AVIRA RESOURCES LTD — Interim / Quarterly Report 2014

Jul 20, 2014

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ASX Release

21 July 2014

Interim Results from Phase One of the 2014 Summer Hills Drilling Programme

ASX CODE

MGS

HIGHLIGHTS

MGT is pleased to announce assay results from the first batch of samples submitted for analysis from the 2014 Phase One drilling programme at the Summer Hills project.

REGISTRY

Computershare

These initial results are encouraging and MGT are currently awaiting the remaining assays. Results at the Summer Hill prospect are particularly promising, with a broad mineralised zone of moderate grade intersected in SH09 (20m @ 0.6% Sn from 12m including 1m @ 5.95% Sn).

SHARES ON ISSUE

288,157,040

Better intervals from the assay results received to date are:

• 20m @ 0.6% Sn from 12m (including 1m @ 5.95% Sn) (SH09; Summer Hill prospect)

• 10m @ 0.34% Sn from 45m (including 1m @ 1.03% Sn) (SH21; Summer Hill prospect)

Tin Price: US$22,072/t

• 1m @ 1.9% Sn from 16m (MAY12; Mayday prospect)

• 7m @ 1.88% Sn from 12m including 2m @ 3.6% Sn (VK17; Viking prospect)*

• 4m @ 0.45% Sn from 17m (PS06; Padstow prospect)

*The geometry of mineralisation is uncertain for these two holes. It is probable that true widths are less than the reported down-hole intercepts.

Executive Chairman and Managing Director Jonathan Back said:

“This is a promising start to our 2014 exploration campaign. The dual focus of the campaign is to first discover higher grade deposits to blend with our lower grade ore, and second, to increase our JORC tonnage. The results so far indicate long intercepts at a shallow depth. This is positive as shallow mining typically keeps extraction costs down.”

“We are eagerly anticipating the results from the remainder of the Phase One drilling programme and are pleased to inform the market that planning for a second phase of drilling has already begun.”

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 info@mgt.net.au

ABN: 38 131 715 645

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OVERVIEW

MGT Resources Limited (MGT or The Company; ASX:MGS), through its 89.48% owned subsidiary MGT Mining Limited, has completed a reverse circulation percussion drilling programme on its Summer Hills mining lease (ML20547). Drilling was conducted at a number of prospects, including the historical prospects: Mayday, Summer Hill, Viking, Dalcouth and Veteran, as well as a new prospect, Padstow. The drilling programme comprised a total of 63 holes (2835m) and one extension of a preexisting hole (21m).

Results from the first batch of assays received from the ALS laboratory at Bohle are presented here (see Appendix 1). To date, results for 26 holes have been received. Figure 1 shows a plan of the drilling targets and gives some indication of the number of holes with results still pending. The results from holes for which assays have been received are promising; particularly for the Summer Hill prospect, with broad intersections of moderate grade in a number of holes (SH21: 10m @ 0.34% Sn (including 1 m @ 1.03% Sn) and SH09: 20m @ 0.6% Sn (including 1m @ 5.95% Sn) (see Figure 2).

Planning for a second phase of drilling to follow up on positive results as well as testing other prospects has already begun. Rock chip sampling programmes are being conducted on a number of historical prospects including Veteran and Tom Hood, and new areas of interest are being examined.

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Figure One : Locations of drill collars from 2014 Summer Hills Phase One drilling programme and significant results to date.

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Figure Two: Section of new drill holes at Summer Hill Prospect showing best intersections. NB: Previously-drilled hole SH03 (2010) was sampled only every second metre; assaying of infill samples from this hole is currently in progress.

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ABOUT THE MT GARNET TIN PROJECT

MGT’s flagship Mt Garnet Tin Project is located approximately 100km (3 hours’ drive on largelysealed road) south west of Cairns in far North Queensland.

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Map 1 - Location of MGT’s Mt Garnet Project tenements within the historic Herberton Tin fields.

MGT’s Mining Lease ML 20547 (Summer Hills ML) was granted for a period of 21 years from 1[st] February 2013. The Summer Hills ML, the main tenement within MGT's flagship Mt Garnet Tin Project, is 1170 Ha in area making it one of the largest mining leases in the region. MGT’s strategy is to generate near-term cash-flow through campaign production of tin concentrates from its existing tenements. MGT sold its first shipment of tin in early 2013.

ML 20547 Contains Tin Processing Plant plus Mining and Exploration Targets

The Mt Veteran Tin processing plant is located on ML4349; wholly surrounded by the Summer Hills ML 20547. A number of tin mining and exploration targets are located within the Summer Hills ML.

Grades of up to 15.75% tin have been previously intersected in drilling on the Summer Hills mining lease. For investors unfamiliar with tin, 1% tin is approximately equivalent in value terms to 4 grams per tonne of gold or 3% copper.

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Map 2 - The Summer Hills Mining Lease contains the Mt Veteran Tin Processing Plant, dams, power, roads and a nearby skilled workforce.

Competent Person’s Statement

Information in this report related to exploration results are based on data compiled by MGT technical staff and checked by Max Rangott of Rangott Mineral Exploration Pty Ltd. Mr Rangott is a member of both the AIG and the AusIMM. Mr Rangott has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Rangott consents to the inclusion in the report of the statements based on the information in the form and context in which it appears.

Forward Looking Statements

This announcement contains forward-looking statements which involve a number of risks and uncertainties. These forward looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.

ENDS

Investor and media enquiries:

Alexander Moody Company Secretary T: +61 2 9262 1122 alex.moody@mgt.net.au

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APPENDIX 1

SIGNIFICANT TIN INTERSECTIONS

Hole ID	Easting	Northing	RL	Azimuth (Mag)	Dip	Depth	From	To	Interval	Sn(%)	Intersection (Sn) (0.1% Sn cut-off)
										XRF15b
MAY11	305690	8055735	818	20	45	30
MAY12	305697	8055732	819	20	45	39	16	17	1	1.9	1m@1.9%
MAY13	305700	8055730	819	18	45	40	11	12	1	0.132	2m @ 0.17%
							12	13	1	0.206
MAY14	305681	8055744	817	20	50	30
MAY15	305670	8055749	815	20	50	33
MAY16	305691	8055755	817	200	45	36	32	33	1	0.153	4m @ 0.18%
							33	34	1	0.328
							34	35	1	0.068
							35	36	1	0.168
PS01	307113	8055674	758	57	47	30
PS02	307115	8055661	758	56	45	39
PS03	307124	8055654	757	57	50.5	33	2	3	1	0.116	4m @ 0.22%
							3	4	1	0.424
							4	5	1	0.129
							5	6	1	0.213
PS04	307131	8055644	756	58	50	30
PS05	307144	8055644	756	224	48	39	29	30	1	0.182	3m @ 0.28%^
							30	31	1	0.555
							31	32	1	0.114
PS06	307146	8055640	755	182	51	30	17	18	1	0.5	4m @ 0.45%^
							18	19	1	0.312
							19	20	1	0.488
							20	21	1	0.495
VK01	306173	8056812	789	235	50	60	42	43	1	0.344	1m@0.34%
VK02	306164	8056830	783	250	50	60
VK03	306151	8056860	784	235	50	72
VK04	306139	8056873	790	233	55	69	37	38	1	0.288	1m@0.29%
VK05	306128	8056891	798	235	55	75	31	32	1	0.541	1m@0.54%
VK06	306105	8056904	807	220	70	60	42	43	1	0.249	2m @ 0.41%
							43	44	1	0.572
VK17	306237	8056431	800	195	50	72	7	8	1	0.413	3m @ 0.3%^
							8	9	1	0.114
							9	10	1	0.377
							12	13	1	1.31	7m@1.88%^
							13	14	1	0.588
							14	15	1	1.835
							15	16	1	3.93
							16	17	1	3.27

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							17	18	1	1.27
							18	19	1	0.961
SH08	305405	8055641	819	31	45	36
SH09	305405	8055641	819	31	75	36	3	4	1	0.156	1m@0.16%
							8	9	1	0.156	2m@0.31%
							9	10	1	0.473
							12	13	1	0.13	20m @ 0.6%
							13	14	1	0.882
							14	15	1	0.365
							15	16	1	0.198
							16	17	1	0.481
							17	18	1	0.138
							18	19	1	0.273
							19	20	1	0.061
							20	21	1	0.229
							21	22	1	0.335
							22	23	1	0.102
							23	24	1	0.107
							24	25	1	0.122
							25	26	1	0.18
							26	27	1	5.95
							27	28	1	0.56
							28	29	1	0.482
							29	30	1	0.319
							30	31	1	0.706
							31	32	1	0.362
SH10	305396	8055531	836	44	45	30
SH11	305387	8055548	840	44	60	33	1	2	1	0.354	1m @ 0.35%
SH12	305366	8055552	837	52	45	40	6	7	1	0.237	4m@0.19%
							7	8	1	0.138
							8	9	1	0.172
							9	10	1	0.205
							20	21	1	0.144	1m@0.14%
							22	23	1	0.106	2m @ 0.22%
							23	24	1	0.331
SH13	305374	8055568	838	44	50	39	6	7	1	0.957	2m @ 0.57%
							7	8	1	0.179
							17	18	1	0.482	1m @ 0.48%
SH21	305424	8055678	803	211	45	93	36	37	1	0.137	4m @ 0.2%
							37	38	1	0.142
							38	39	1	0.272
							39	40	1	0.25
							42	43	1	0.102	1m @ 0.1%
							44	45	1	0.232	10m @ 0.34% (Assays for 54-
							45	46	1	0.176

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							46	47	1	0.295	90m awaited)
							47	48	1	0.136
							48	49	1	0.193
							49	50	1	1.03
							50	51	1	0.176
							51	52	1	0.193
							52	53	1	0.093
							53	54	1	0.914

*A 0.1% cut-off was used to calculate intercepts

Several of the reported intercepts include 1m intervals of internal dilution (i.e. 1m grading <0.1% Sn) provided the average grade of any 2m intercept that includes the 1m internal dilution is greater than 0.1% Sn.

^Intersections reported are downhole widths. Due to the uncertainty of the geometry of mineralisation and the orientation of some drillholes as a result of topographic constraints, true widths may be substantially less than the reported downhole intercepts; in particular VK17 (Viking Prospect) and PS05/PS06 (Padstow Prospect)

+For details on samplings and analysis methods refer to Appendix 2

APPENDIX 2

JORC CODE TABLE 1

Section 1: Sampling Techniques and Data

Criteria	Explanation		Commentary
Sampling techniques	Nature and quality of sampling (e.g.	cut	Phase one of the 2014 Summer Hills
	channels, random chips, or specific		drilling program was entirely conducted
	specialised industry standard		by reverse circulation percussion drilling
	measurement tools appropriate to	the	using a 125-130mm diameter hammer bit
	minerals under investigation, such	as	to produce chip samples.
	down hole gamma sondes, or handheld
	XRF instruments, etc.) These examples
	should not be taken as limiting the broad
	meaning of sampling.
	Include reference to measures taken to		Sample representivity was ensured by the
	ensure sampling representivity and	the	following measures:
	appropriate calibration of	any	- reverse circulation percussion drilling
	measurement tools or systems used.		was used to obtain bulk samples over 1m
			intervals, from which 3-6kg were riffle-split
			off for analysis.
			- all sample was collected through a
			cyclone with the 1/8thassay sample being
			collected via a 1/8th– 7/8thriffle splitter
			mounted beneath the cyclone
			- RC chips were logged for lithology,
			weathering, alteration and mineralisation
	Aspects of the determination	of	Reverse circulation drilling was used to
	mineralisation that are Material to the Public Report. In cases where ‘industry		obtain bulk samples over 1m intervals, from which 3-6kgwere split off for

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Criteria	Explanation	Commentary
	standard’ work has been done this would	analysis.
	be relatively simple (e.g. ‘reverse
	circulation drilling was used to obtain 1m	Each 1m sample was analysed at the Mt
	samples from which 3kg was pulverised	Veteran office using a FXL laboratory
	to produce a 30g charge for fire assay’).	portable X-Ray Fluorescence (XRF)
	In other cases more explanation may be	machine. Anomalous samples were sent
	required, such as where there is coarse	to Australian Laboratory Services (ALS)
	gold that has inherent sampling problems.	for further analysis.
	Unusual commodities or mineralisation
	types (e.g. submarine nodules) may	Samples sent to ALS were riffle split at
	warrant disclosure of detailed information.	the laboratory to obtain a sample between
		2.5 and 3.2kg in weight and then
		pulverised. Each sample was analysed
		for Sn using an ore-grade fused disc XRF
		technique (XRF15b).
Drilling techniques	Drill type (e.g. core, reverse circulation,	All drilling in 2014 Phase One was
	open-hole hammer, rotary air blast,	conducted using a reverse circulation
	auger, Bangka, sonic, etc.) and details	percussion rig with face-sampling bits
	(e.g. core diameter, triple or standard	producing 125-130mm diameter holes.
	tube, depth of diamond tails, face-	Shallower holes (<75m) were drilled with
	sampling bit or other type, whether core is	a rig with 600cfm/300psi air capacity
	oriented and if so, by what method, etc.)	while deeper holes were drilled using a rig
		with 750cfm/350psi air capacity. An
		auxiliary compressor of 900cfm/350psi
		and booster of 1000psi capacity was used
		for most deep holes and some of the
		shallower holes.
Drill sample recovery	Method of recording and assessing core	Weights of all samples collected from the
	and chip sample recoveries and results	cyclone are recorded over 1m intervals.
	assessed.	Final recoveries remain to be calculated
		and assessed.
	Measures taken to maximise sample	All sample obtained by the face-sampling
	recovery and ensure representative	drilling was collected via a cyclone
	nature of the samples.	attached to the drill rig with the laboratory
		assay sample being collected directly
		beneath the cyclone using a 1/8th-7/8th
		riffle splitter.
	Whether a relationship exists between	Sample recoveries have yet to be
	sample recovery and grade and whether	calculated in order to assess whether or
	sample bias may have occurred due to	not any sampling bias has occurred.
	preferential loss/gain of fine/coarse
	material.
Logging	Whether core and chip samples have	Geological logging has been carried out
	been geologically and geotechnically	on all holes. The holes have been logged
	logged to a level of detail to support	for lithology, weathering, alteration and
	appropriate Mineral Resource estimation,	mineralisation, to allow correlation
	mining studies and metallurgical studies	between holes where possible.
	Whether logging is qualitative or	The logging of RC chips is both
	quantitative in nature. Core (or costean,	qualitative and quantitative. Alteration,
	channel etc.) photography.	weathering and mineralisation data
		contain both qualitative and quantitative
		fields. Photographs of reference chip
		trays have yet to be taken.
	The total length and percentage of the	The entire length of all drill holes has
Sub-sampling	relevant intersections logged. If core, whether cut or sawn and whether	been geologically logged. OnlyRC chipsamples were taken.

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Criteria	Explanation			Commentary
techniques and	quarter, half or all core taken.
sample preparation
	If non-core, whether riffled, tube		sampled,	Samples were riffle split to obtain weights
	rotary split, etc. and whether sampled wet			suitable for analysis at ALS. All holes
	or dry.			were dry above an approximate vertical
				depth of 25m. Below 25m vertical, minor
				to occasionally strong water flows were
				encountered in some prospects; however
				the drilling contractor was largely able to
				ensure a dry sample for sampling
				purposes. Less than 1% of all samples
				were affected by water.
	For all sample types, the nature, quality			The sample preparation was conducted
	and appropriateness of the		sample	according to industry best practice.
	preparation technique.
	Quality control procedures adopted for all			Quality control procedures involved use of
	sub-sampling stages to		maximise	certified reference materials and
	representativity of samples.			limestone blanks inserted at regular
				intervals into the assay sample sequence.
				Quality control samples are included at a
				nominal 1 sample per 15-20 assay
				samples.
	Measures taken to ensure		that the	Duplicate samples are yet to be collected.
	sampling is representative of	the in situ
	material collected, including for		instance
	results for field duplicate/second-half
	sampling.
	Whether sample sizes are appropriate to			Assay sample weights between 2.5 and
	the grain size of the material being			3.2 kg are considered to be appropriate
	sampled.			with respect to any coarse tin that may be
				present.
Quality of assay data	The nature, quality and appropriateness			Assays were conducted at ALS
and laboratory tests	of the assaying and	laboratory		Laboratories using a fused disc XRF
	procedures used and whether the			technique (method XR-15b), which is the
	technique is considered partial	or total.		current industry standard for ore-grade
				tin. Fused disc XRF is considered a total
				technique, as it extracts and measures
				the whole of the element contained within
				the sample.
	For geophysical tools, spectrometers,			No geophysical tools were used.
	handheld XRF instruments,		etc. the
	parameters used in determining the			An FXL laboratory XRF machine was
	analysis including instrument	make and		used on site to identify anomalous
	model, reading times, calibration factors			intervals, which were then sent for more
	applied and their derivation, etc.			precise analysis at ALS.
	Nature of quality control procedures			Certified geochemical standards and
	adopted (e.g. standards,		blanks,	blank samples were inserted into the
	duplicates, external laboratory		checks)	assay sample sequence at a nominal rate
	and whether acceptable	levels of		of one QC sample per 15-20 assay
	accuracy (i.e. lack of bias) and		precision	samples. Laboratory assay results for
	have been established.			these quality control samples are within
				5% of accepted values.
Verification of	The verification of significant intersections			Check assaying by a second laboratory
sampling and	by either independent or	alternative		has yet to be undertaken.
assaying	company personnel. The use of twinned holes.			No twinned holes were drilled.

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Criteria	Explanation	Explanation				Commentary
	Documentation of primary data, data					Data is collected by qualified geologists
	entry procedures, data verifications, data					and experienced field assistants and
	storage	(physical		and	electronic)	entered into excel spreadsheets.
	protocols.					Spreadsheets are then checked by on-
						site and head office geologists for
						potential errors.
						Data is imported into Microsoft Access
						tables from the Excel spreadsheets with
						validation checks set on different fields.
						Data is then checked thoroughly by the
						Operations Geologist for errors. Accuracy
						of drilling data is then validated when
						imported into MapInfo.
						Data is stored on a server in the
						Company’s head office, with regular
						backups and archival copies of the
						database made.
	Discuss any adjustment to assay data.					No adjustments are made to the data.
						Data is imported into the database in its
						original raw format.
Location of data	Accuracy and quality			of surveys used to		Drill hole collar co-ordinates were
points	locate drill	holes (collar and			down-hole	recorded using a handheld GPS meter (+
	surveys), trenches, mine workings and					4m accuracy). Drill collar coordinates will
	other locations used in Mineral Resource					ultimately be determined using DGPS
	estimation.					survey equipment.
						Down hole surveys were conducted on all
						holes using a GlobalTech Pathfinder
						downhole camera with surveys taken
						inside a non-magnetic stainless steel drill
						rod.
	Specification		of the grid system used.			Coordinate system is UTM Zone 55 and
						datum is GDA94
	Quality and		adequacy of topographic			The Digital Terrain Model of the Summer
	control.					Hills mining lease was derived by
						photogrammetry obtained by consultant
						surveyors with contours provided at 2m
						intervals.
Data spacing and	Data spacing for reporting of Exploration					Drill holes were drilled at nominal 10 - 20
distribution	Results.					metre intervals dependant on the
						prospect. Where more than one hole has
						been drilled on a section, spacing
						between holes along the section varies
						between 5 and 25m depending on
						topography.
	Whether the		data spacing and		distribution	Current hole spacing and distribution is
	is sufficient		to establish the		degree of	insufficient to provide confidence in
	geological		and	grade	continuity	geological and grade continuity for
	appropriate for the Mineral Resource and					resource estimation purposes.
	Ore Reserve		estimation procedure(s) and
	classifications applied.					Further close spaced drilling will be
	Whether sample compositing				has been	necessary prior to calculation of a mineral resource. No sample compositinghas been applied.

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Criteria	Explanation	Explanation		Commentary
	applied.
Orientation of data in	Whether	the orientation of sampling		With the exception of VK17 and PS06, all
relation to geological	achieves	unbiased sampling of	possible	holes have been designed to drill normal
structure	structures and the extent to which this is			to interpreted mineralisation trends.
	known, considering the deposit type.			However, there has been insufficient
				drilling and geological interpretation to
				determine if there is a bias to sampling as
				a result of drilling oblique to or downdip
				on mineralised structures.
	If the	relationship between	drilling	With the exception of VK17, PS05 and
	orientation and the orientation		of key	PS06, no sampling bias due to orientation
	mineralised structures is considered to			has been revealed from Phase One
	have introduced a sampling bias, this			drilling results.
	should be assessed and reported if
	material.			Hole VK17 may have been drilled parallel
				to and down-dip of a mineralised structure
				although the precise geometry of
				mineralisation in the vicinity of VK17 is
				poorly understood at this time. PS05 may
				have been drilled down-dip on the
				mineralised structure. PS06 was drilled
				oblique to and possibly down-dip of the
				mineralised structure. Further drilling is
				required to establish the geometry of the
				mineralisation.
Sample security	The measures taken to endure sample			Chain of custody is managed by MGT
	security.			from the drill site to Atherton. Samples
				are then handed to Followmont, a local
				transport company, who transport them to
				the ALS laboratory in Townsville where
				sample preparation takes place.
Audits or reviews	The results of any audits or reviews of			To date there has not been an audit of
	_sampling _	techniques and data.		samplingtechniques and data.

Appendix 3 – JORC CODE TABLE 2

Section 2: Reporting of Exploration Results

Mineral tenement and	Type, reference name/number, location	The Mining Leases: ML20547 and
land tenure status	and ownership including agreements or	ML4349 are located approximately 100
	material issues with third parties such as	kms SW of Cairns in Northern
	joint ventures, partnerships, overriding	Queensland near to the township of Mt
	royalties, native title interests, historical	Garnet. The MLs are 100% owned by
	sites, wilderness or national and	MGT Mining, which is a subsidiary of
	environmental settings.	MGT Resources Ltd with 89.48%
		ownership. MGT has an ILUA Agreement
		with the Native Title claimants in the area,
		the Bar Barrum People. There are no
		sites of cultural heritage significance
		listed within the MLs.
	The security of the tenure held at the time	ML20547 and ML4349 are held for
	of reporting along with any known	periods of, respectively, 21 years and 14
	impediments to obtaining a license to	years, and both are in good standing.
Exploration done by	operate in the area. Acknowledgement and appraisal of	The Mt Garnet-Irvinebank area is one of

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other parties	exploration by other parties.	exploration by other parties.	exploration by other parties.				the major tin-producing districts in
							Australia. Hard rock tin ore was obtained
							from open cuts and tunnels within
							ML20547, starting in the 1880s. In
							addition alluvial tin was also mined on a
							large scale; the valleys in and around
							ML20547 have been extensively mined
							by using mechanised equipment, but this
							mining stopped in 1989. Throughout the
							1960s Noranda completed underground
							exploration at Summer Hill, including
							drilling six diamond holes. Tin Australia
							NL conducted surface exploration,
							including rock chip sampling in the
							1990s.This data has not been used in
							current calculations of grade and width.
Geology	Deposit type, geological setting and style						Tin mineralisation within the Summer Hills
	of mineralisation.						Mining Lease is hosted in metasediments
							of the Hodgkinson Formation.
							Mineralisation is hosted in fracture
							networks, quartz veins and zones of
							chlorite alteration that, in some locations,
							occurs in proximity to rhyolite porphyry
							dykes. Tin mineralisation, which occurs
							as cassiterite (SnO2), also occurs
							disseminated through chlorite rich zones.
							The ML is located in an area of North
							Queensland which, historically, has been
							mined for hardrock and alluvial tin
							deposits.
Drill hole information	A summary of all		information	material to			See Appendix 1
	the	understanding of the		exploration
	results including		a tabulation		of the
	following information for all Material drill
	holes:
		Easting and	northing of the		drill hole
		collar
		Elevation or	RL (Reduced		Level –
		elevation above sea level in metres)
		of the drill hole collar
		Dip and azimuth of the hole
		Down hole length and		interception
		depth
		Hole length
	If the exclusion		of this information is
	justified on the basis that the			information
	is not Material and this exclusion does not
	detract from the		understanding			of the
	report, the Competent Person					should
	clearly explain why this is the case.
Data aggregation	In	reporting	Exploration		Results,		No top-cuts have been applied. A lower
methods	weighting averaging			techniques,			cut-off grade of 0.1% Sn has been
	maximum and/or minimum					grade	applied in the figures and tables. Several
	truncations (e.g. cutting of high				grades)		of the reported intercepts include 1m
	and and	cut-off grades are usually should be stated.			Material		intervals of internal dilution (i.e. 1m grading <0.1% Sn) provided that the averagegrade of any2m intercept that

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		includes the 1m internal dilution is greater	includes the 1m internal dilution is greater
		than 0.1% Sn.
	Where aggregate intercepts incorporate	A list of Sn values for	each metre
	short lengths of high grade results and	included in aggregate intercepts is shown
	longer lengths of low grade results, the	in Appendix 1. In addition,	in the list of
	procedure used for such aggregation	best intersections, high grade intercepts
	should be stated and some typical	are stated with the aggregate intercept.
	examples of such aggregations be shown
	in detail
	The assumptions used for any reporting	No metal equivalents have been used in
	of metal equivalent values should be	reporting.
	clearly stated.
Relationship between	The relationships are particularly	Due to uncertainty on the exact geometry
mineralisation widths	important in the reporting of Exploration	of mineralisation, the	relationship
and intercept lengths	Results.	between true width of mineralisation and
	If the geometry of the mineralisation with	the length of downhole	intercepts is
	respect to the drill hole angle is known, its	unclear.
	nature should be reported
	If it is not known and only the down hole
	lengths are reported, there should be a
	clear statement to this effect (e.g. down
	hole length, true width not known).
Diagrams	Appropriate maps and sections (with	See Fig. 1-2 and Appendix 1
	scale) and tabulations of intercepts
	should be included for any significant
	discovery being reported. These should
	include, but not be limited to a plan view
	of drill hole collar locations and
	appropriate sectional views.
Balanced reporting	Where comprehensive reporting of all	All exploration results have been reported
	Exploration Results is not practicable,	in Appendix 1; A representative section
	representative reporting of both low and	has been shown in Fig. 2.
	high grades and/or widths should be
	practised to avoid misleading reporting of
	Exploration Results.
Other substantive	Other exploration data, if meaningful and	No other data is appropriate	at this stage.
exploration data	material, should be reported including
	(but not limited to): geological
	observations; geophysical survey results;
	geochemical survey results; bulk samples
	– size and method of treatment;
	metallurgical test results; bulk density,
	groundwater, geotechnical and rock
	characteristics; potential deleterious or
	contaminating substances.
Further work	The nature and scale of planned further	MGT is currently planning	Phase 2 of
	work (e.g. test for lateral extensions or	2014 drilling to test for extensions to
	depth extensions or large-scale step-out	mineralisation both along	strike and
	drilling).	down-dip. This drilling will	also provide
		further information on the	geometry of
		mineralisation intersected to	date.
	Diagrams clearly highlighting the areas of	See Fig. 1
	possible extensions, including the main
	geological interpretations and future
	drilling areas, provided this information is not commercially sensitive.

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