Mount Peake Mining Project Group Annual Report GR512 20 November 2019 to 19 November 2020

Abstract

The Mount Peake Project is operated by Enigma Mining Ltd (Enigma), a wholly owned subsidiary of TNG Ltd. The project currently comprises seven granted exploration licences (EL 27069, EL 27070, EL 27941, EL 29578, EL 30483, EL 31389 and EL 31850), four granted mineral leases (ML 28341, ML 29855, ML 29856, ML 30686) and two access authorities (AA31105 and AA32037) in the north-central portion of the Paleoproterozoic Arunta Province. The project area is located approximately 235km NNW of Alice Springs in the Northern Territory and covers portions of the Mount Peake (SF53-05) 1:250,000 map sheet. This group report focusses on the Mineral Leases surrounding the Mount Peake resource, ML 28341 (main resource/mining pit), ML 29855 (ancillary licence - minesite infrastructure) and ML 29856 (ancillary licence - mining camp site). ML 28341 was granted on 20 November 2018 and ML's 29855 and 29856 on 21 November 2018 for a period of 24 years, expiring on 19 November 2042. Work at Mount Peake is still currently being undertaken under the Exploration Activities Mining Management Plan and as such minimal expenditure (and work completed) has been assigned to the ML's. A draft of the Mining Operations Mining Management Plan was submitted in October 2019 and requests for additional information are currently being addressed.