Mount Peake Project Group Annual Report GR226/12 EL 27069, EL 27070, EL 27941, EL 29578, EL 31389, EL 31850, 18 February 2018 to 17 February 2019

Abstract

The Mount Peake Project is operated by Enigma Mining Ltd, a wholly owned subsidiary of TNG Ltd. The project currently comprises six exploration licences (EL 27069, EL 27070, EL 27941, EL 25978, EL 31389 and EL 31850) 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 in recent times has been evaluation of the potentially world class Fe-V-Ti deposit. The Definitive Feasibility Study was completed in mid-2015 with an update produced in November 2017. An addendum to the EIS was submitted in November 2017 and approval was granted by the NTEPA in January 2018 with Commonwealth approval granted in May 2018. Applications for two year renewals were submitted for Exploration licences 29578 and 27941. Waterbore logging devices are installed on six waterbores within EL 31389 and two drillholes within the Mount Peake resource area. Water sampling is completed periodically TNG drilled bores along with existing station bores within the Mount Peake tenure. A surface water logging device has also been installed in Murray Creek, adjacent to the proposed Mount Peake minesite. AMD leach sampling is being undertaken on barrels of sample kept onsite in Alice Springs. This testing is ongoing. Continued environmental monitoring is being undertaken by consultants Animal Plant Mineral Pty Ltd in order to finalise the Mount Peake Mining Operations Mining Management Plan.