Not a particularly good Announcement: Geochemical...

Not a particularly good Announcement:

Geochemical Sampling

Following the end of the December quarter, Avira is pleased to confirm that the assay results from
recently completed geochemical have now been received and analysed.

The Company took a total of 947 geochemical samples, comprised of 208 stream sediment samples
and 739 soil samples, inclusive of QAQC samples. Stream sediment samples were taken from stream
beds, sieved to 0.1-04mm. Soil samples were taken as +0.4mm -2mm fraction sieved to ~100g.
All samples were assayed via Aqua-Regia digest and analysed by Inductively Coupled Plasma Mass
Spectrometry for 33 elements plus gold. Industry standard QAQC procedures were undertaken, with
1:20 duplicate field samples and 2”100 certified reference material samples submitted. Full details
are presented in the JORC Table 1.

QAQC analysis indicates that the soil sampling procedure and methodology undertaken was
accurate, precise and was done to industry best practise.

Analysis of the sample dataset indicates a strong component of aeolian sand, which is interpreted
to dilute the geochemical response of the bedrock across the majority of the tenements. This is
typical of the regolith in the Paterson Province, and has influenced this sampling dataset despite the
shallow cover and sub-outcrop in the tenements.

Despite the shallow cover, significant portions of the tenement have only tested the aeolian sands
and the bedrock is insufficiently tested.

Avira acknowledges certain delays due to COVID-19 in conducting work programs and securing
technical contractors. A robust and active exploration sector has also presented availability and
resourcing capacity challenges for independent contractors engaged by the Company.
Mount Macpherson

Soil sampling was conducted over the Mount Macpherson tenement in two phases, with sample
locations planned in the swales between sand dunes to minimise the influence of wind blown sand.
A series of stream sediment samples were taken in the mountainous area surrounding Mount
Macpherson. Infill lines were conducted to target the Pipeline Conductor target which had been
identified from the Airborne EM survey.

Results here show that some large areas of the tenement appear to be dominated by sand which
has almost no bedrock geochemical response; these areas exhibit geochemistry below detection
limit for Na, Ca, Sc, Tl, etc. These areas typically show very low aluminium contents (clays) and
therefore sampling has likely only encountered aeolian sands and is largely ineffective.

Nevertheless, a large portion of the conductive anomalies identified from the EM survey lie in areas
where is can be presumed the soil sampling has been at least partially effective given the elements
here are consistently above detection limit, especially Na, Ca, with higher Al, Fe, Mg.

Three of the above-background Au results (>1ppb) lie directly above the Pipeline Conductor, which
indicates that weak Au bearing fluids may have preferentially travelled along this structure. No
coherent trace element anomalism (As, Ag, Cu, Co, As, Bi, W) or definitive base metal anomalism
correlate strongly with this structure.

Figure 2. Geo-chemical soil sample lines taken on the Mount Macpherson tenement.
Throssel Range




Soil sampling was conducted over the Throssel Range tenement in two phases, with sample locations
planned in the swales between sand dunes to minimise the influence of wind blown sand. Infill lines
were conducted to target conductors associated with dolerites hosted within the Archaean
basement, which had been identified from the Airborne EM survey.

The sampling appears to be relatively effective at testing the bedrock, especially in the infill lines. A
consistent, coherent low-level response of Cu, Pb and other elements indicate the soils have tested
the regolith adequately.

Geochemical assay results were generally low level throughout the area. No high-level anomalism
appears to be present within Cu, Au or base metals. No clear anomalism lies over any of the
conductive trends in the EM survey.

The gold results are generally below detection limit, with a few +1ppb results. No clear trends are
evident, and it can be concluded that no significant Au mineralising event has been detected by
the sampling.

Commenting on these results, AVW’s Executive Director David Deloub said.
“Geochemical surveys form an important layer of information within the exploration process.

Exploring in areas covered by wind blown sand presents significant challenges and can conceal
mineralisation even in shallowly covered areas. Whilst these soils results are not definitive, they do
form an important part of the exploration process. The existing EM targets form a basis for a ground
based fixed loop EM program to be conducted in the first quarter of 2021 which is expected to result
in the determination of any priority RC drill targets.”

Follow up exploration

The Company will continue exploration of the Throssell Range and Mount Macpherson projects in the
coming year. The Company will consider the use of Ultra Fine Fraction sample assaying to ‘see
through’ the aeolian cover. This is a cutting edge assaying and sample treatment process developed
by CSIRO to specifically deal with difficult, deeply covered areas of regolith and is being widely used
in the Paterson to generate geochemical anomalies.

The focus of exploration efforts will be to design and complete a ground based electromagnetic
survey of priority conductors identified from the airborne EM survey. This focused ground-based
program is designed to delineate deeper bedrock conductors, which will form priority RC drill targets.

The company intends to mobilise a drill rig and crew as soon as practicable pending receipt and
interpretation of the geophysical data generated from this program. The timing of drilling will be
contingent upon receipt of all land access and heritage clearances and satisfactory weather
conditions.

The Company has prepared a Programme of Works, and (if required) a Heritage
Clearance Survey to open up access tracks and base lines to support drilling activities.
Corporate Activities

On the 17 November 2020 Avira announced that the Sale and Purchase Agreement with Minotaur
for the sale of Pyramid Project had been executed. Completion of the transaction is contingent on
satisfaction of the condition precedent being receipt of approval from the QLD department of mines
to transfer the tenements from Avira to Minotaur Exploration Limited (ASX: MEP).

The Company engages Cicero Group Pty Ltd for accounting, administrative and company
directorship & secretarial services at $10,000 per month (exclusive of GST). Mr Sonu Cheema is a
shareholder in Cicero Group Pty Ltd.

Payments of monthly and accrued Director fees,
superannuation and provision of administration/consulting services totalled $57,858 during the
December quarter. This is also detailed in Section 6 of the Appendix 5B.
The $296,550 of outflows from operating activities during the September quarter (refer Item 1.2 (a) (d)
and (e) of the Appendix 5B) predominantly comprised of:

• Exploration field activities including;
o Logistics planning, reconnaissance and geological mapping
o Geochemical sample collection (rock chip and soils).
o Sample transport and assay
o Analysis and reporting
• Technical consulting fees including; consulting geologists and geo physicists.
• Tenement administration, management and reporting.