GR016 MLC 3, MLC 6 to 14 (inclusive), MLC 19, MLC 43-44, MLC 125-126, MLC 128, MLC 156-157, MLC 507, MLC 509-510, MLC 519, and MLC 664-667 (inclusive) Peko Tailings Project Group Annual Report for the period 1 January 2010 to 31 December 2015

Abstract

The Peko Tailings Project is centred at the historic Peko mine east of Tennant Creek. The project titles are now held 100% by Sitzler Savage Pty Ltd after protracted legal issues between 2009 and 2015. The registered operator is Peko Rehabilitation Project Pty Ltd, while Peko Bull Pty Ltd became manager of activity from September 2015. Activity at site was in abeyance during the reporting period 1st January 2010 to 31st December 2015. Small scale production of magnetite suitable for coal washeries had been attempted in the years prior to 2009, with the last operation ceasing in early 2009 due to flooding and financial and ownership issues. Another mine plan was conceived in 2011 but legal disputes between the owners since that time prevented any further testing or development. Peko Bull aims to develop a suitable processing flowsheet for the economic extraction of Au, Cu, Co and washery grade magnetite with the additional benefit of neutralising the acid forming capacity of the historic tailings, removing the sulphides and separating the magnetite from the silicate minerals. Peko Bull began preparations late in 2015 for its 2016 program which will include drilling and metallurgical testing.