Mount Peake Project Sixth Group Annual Report GR226/12 EL 27069, EL 27070, EL 27941, EL 28491, EL 29578 for the period 18 February 2016 to 17 February 2017

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 220 km 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 a supplement to the EIS was lodged with the NT EPA in March 2017. Minimal exploration was conducted during the reporting year. Rehabilitation monitoring work was completed on EL 27069, EL 27941 and EL 29578. A reduction and renewal application was lodged for EL 27941 and the licence was renewed for a two year period to expire in October 2018. A review was completed on all the exploration undertaken on areas outside of the Mount Peake V-Ti-Fe deposit. Based on this review there are a number of targets within the Mount Peake project area which require follow up exploration.