TNG has discovered a new copper mineralisation at Mount Peake following the identification of a large copper gossan within the ultramafic package.
Assays results have confirmed copper grades up to 6.07% Cu from surface sampling of this gossan. Further exploration is currently in preparation. To view the Copper results announcement, please click here.
New Copper mineralisation discovered at Mount Peake.
As part of the companys Nickel/Copper exploration strategy a complete review of both airborne magnetic and electromagnetic data over the Mount Peake licence area has been completed resulting in a new magnetic model for the project area.
Re-assessment of AEM’s identified a number of late-time, intermediate to strong conductive features for further work. Northwest trending linear features coinciding at AEM 5 are interpreted to be potential magnetic feeder zones to the Mount Peake gabbro. AEM 5 is a broad moderate late-time conductive zone which can be divided into two conductive zones as potential Bi/Cu targets.
TNG has engaged Geochemical Services Pty Ltd to review and asses TNG’s geochemical assay data of the area with a view to selecting prospective areas for Nickel/ Copper and Platinum Group mineralisation.
GEOTEM Digital Interpretation Map
In addition to ongoing exploration and Pre-Feasibility work at the Mount Peake Vanadium Project, TNG has also completed diamond drilling targeting Nickel-Copper and PGE’s in potential mafic layered intrusions at Mount Peake.
This work was partly funded by a grant from the Northern Territory Government under its collaborative funding programme. Two diamond holes were drilled during 2010 for 698m and, while only minor sulphides were noted, work is ongoing.
A heliborne magnetic and gravity survey completed over EL 23074 in late 2009 resulted in the identification of previously unknown uranium anomalies which are up to 500m long and adjacent to the Mount Peake Vanadium Deposit. Uranium has not been routinely assayed in any of the previous exploration at Mount Peake. Field checking of anomalies is planned and re-assaying of sample pulps and residues is scheduled.
Towards the end of 2009 TNG increased its landholding in the Mount Peake area by three licences to take the project to seven tenements covering 1980km2.