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AVIRA RESOURCES LTD — Capital/Financing Update 2013
Jan 14, 2013
64473_rns_2013-01-14_dd55cbac-b41f-489f-b32d-ad6b3f08eff2.pdf
Capital/Financing Update
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ASX RELEASE
Mt Garnet Project Update
DATE: 15 January, 2013 ASX Code: MGS
MGT Resources (ASX:MGS) wishes to advise on progress at its Mt Garnet Project in Queensland’s Atherton Tablelands.
On 28[th] of September 2012, MGT was advised that the Land Court of Queensland had recommended the Queensland Mines Department to approve the company’s application for the MLA 20547, covering prospects at the Summer Hills tin project.
Registry: Computershare
MGT understands this application is now in the hands of the Queensland Mines Department. On approval of this application MGT will be able to complete the mining plan for the Dalcouth Prospect, currently estimated to hold 348 tonnes of tin (JORC inferred) at shallow depth and located less than 500 metres from the Mt Veteran Tin Processing Plant. Dalcouth’s proximity to the processing plant makes it an attractive first target for mining and production, and will allow the company to move Mt Garnet tin projects to production in the near future.
Off-take
The company has previously secured an off-take agreement with Taimetco International Trade Co., Ltd, a Taiwanese metals buyer, who will take the first shipment of the tin.
MGT Resources Limited
2.05/68 York Street Sydney, NSW 2000 Australia
T: 61 2 9262 1122 F: 61 2 9299 5175 www.mgt.net.au [email protected] ABN: 38 131 715 645
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Figure 1: The Mount Veteran Tin Mill
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Figure 2: Aerial photo of Summer Hills (MLA 20547) prospects, Dams
and the Mt Veteran Mill, showing the close proximity of the Dalcouth target to the mill.
www.mgt.net.au [email protected]
ASX RELEASE
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The Dalcouth resource estimate was prepared in accordance with the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (“JORC Code”) by Tim Callaghan, who is a Member of The Australian Institute of Mining and Metallurgy (“AusIMM”), has a minimum of five years experience in the estimation and assessment and evaluation of Mineral Resources of this style and is the competent Person as defined in the JORC Code. This announcement accurately summarises and fairly reports his estimations and he has consented to the resource report in the form and context it appears.
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For more information:
| Investor enquiries:Alexander MoodyCompany Secretary+61 2 9262 1122[email protected] | Media enquiries:Peter BrookesMitchell HumeCitadel Communications+61 2 9209 3033 |
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www.mgt.net.au [email protected]
ASX RELEASE