Mount Peake Project Fourth Group Annual Report GR226/12 EL 27069 18 February 2015 to 17 February 2016, EL 27070 18 February 2015 to 17 February 2016, EL 27941 18 February 2015 to 17 February 2016, EL 28491 18 February 2015 to 28 July 2015, EL 29578 18 February 2015 to 17 February 2016

Abstract

The Mount Peake Project is operated by Enigma Mining Ltd, a wholly owned subsidiary of TNG Ltd. The project currently comprises five exploration licences (EL 27069, EL 27070, EL 27941, EL 28491 and EL 25978) in the north-central portion of the Paleoproterozoic Arunta Province. The project area is located approximately 220km NNW of Alice Springs in the Northern Territory and covers portions of the Mount Peake (SF53-05) 1:250,000 map sheet. It lies within the Stirling and Anningie Pastoral Leases and is subject to Native Title. The main focus of the Mount Peake project has been evaluation of the potenitally world class Fe-V-Ti deposit which lies within ELR 29627. The Definitive Feasibility Study was completed in mid-2015 and the EIS lodged with relevant authorities in December 2015. Minimal exploration was conducted during the reporting year. Reconnaissance trips were undertaken along the proposed route of the transport corridor (access and haul road) and the minesite and campsite areas. A Field Inspection was carried out by DME officers in June 2015 and resulted in a number of rehabilitation recommendations. Additional rehabilitation was undertaken in November 2015.