Mount Peake Project Fifth Annual Report for ELR 29627 17 December 2016 to 16 December 2017

Abstract

ELR 29627 is part of the Mount Peake Project operated by Enigma Mining Ltd, a wholly owned subsidiary of TNG Ltd. 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 project comprises five granted exploration licences; EL 27069, EL 27070, EL 27941, EL 29578 and EL 31389 and an exploration licence in retention, ELR 29627. In addition three Mining Lease applications; ML 28341, ML 29855 and ML 29856 have been taken out within the project area. The main focus of the Mount Peake project has been evaluation of the V-Ti-Fe deposit which lies within ELR 29627. Work has continued throughout the year on metallurgical testwork, environmental studies and logistical matters which have contributed to progression towards construction and mining. The draft EIS for the Minesite, Transport Corridor and Borefield was submitted to the NT EPA in December 2015 and released for public comment from 13 February 2016 - 25 March 2016. The NT EPA received written submissions from a number of entities and these submissions along with EPA comments were addressed in a Supplement to the EIS submitted in April 2017. A review by the NT EPA advised TNG that further information is required to address a small number of outstanding issues. An addendum to the EIS and Supplement was prepared by Perth-based Animal Plant Mineral Pty Ltd and submitted in November 2017.