Mount Peake - Overview
The Mount Peake project area is located approximately 230km north of Alice Springs in the highly prospective Arunta Province of the Northern Territory.
The project comprises five granted exploration licences; EL 27069, EL 27070, EL 27941, EL 29578 and EL 30483 an exploration licence in retention, ELR 29627 and four Mining Lease applications; ML 28341, ML 29855, ML 29856 and EL 30386.
The deposit was discovered in 2008 when TNG outlined a magnetite-bearing gabbro containing high-grade vanadium, titanium and iron. The mineralisation commences at shallow depths making the deposit readily amenable to open pit mining.
Mount Peake currently has a total JORC Resource estimate of 160Mt @ 0.28% vanadium (V205), 5% titanium (TiO2) and 23% iron (Fe), 118Mt of which is a Measured Resource status. A Feasibility Study was completed in July 2015 with forecast 20 year life of mine operation, cash flow of A$11.6 billion, a NPV of A$4.9 billion and a pre-tax IRR of 41%.
The Project is strategically located close to existing power and transport infrastructure, including the Alice Springs-Darwin Railway, the Stuart Highway and the LPG pipeline, 20km tio the east.
Mount Peake Tenement Location Map