Avira Resources : PATERSON PROJECT EM SURVEY CONFIRMS SIGNIFICANT CONDUCTORS

7 October 2020

The Manager

Market Announcements Office

Level 40, Central Park

152-158 St Georges Terrace

PERTH WA 6000

PATERSON PROJECT AIRBORNE EM SURVEY CONFIRMS SIGNIFICANT

CONDUCTORS IN PROSPECTIVE STRUCTURAL SETTING

HIGHLIGHTS

• 608 line kilometres of heliborne VTEM completed over Avira's Throssel Range and Mount Macpherson projects
• Thirteen priority EM targets defined from 152 conductive anomalies including;

• 1. "Pipeline" target: ~8km strike length trending south west to Aria Cu prospect o "Gwardar" target: ~9km strike length magnetic and conductive target
• Multiple high priority late time conductive anomalies defined for follow-up
• Follow-upground EM scheduled for the current quarter

Avira Resources Limited (ASX: AVW) (Avira or the Company) is pleased to advise that it has now received the data and results from the high-resolution helicopter borne Xcitetm electromagnetic and magnetic survey flown over its 100% owned Throssell Range and Mount Macpherson project areas in the highly prospective Paterson province, Western Australia.

The survey has defined 152 conductive anomalies and coincident magnetic responses in the subsurface geology of the project areas, with several extensive anomalous responses encountered on multiple flight lines. Eighty six conductive anomalies occur on the Throssel tenement and sixty six on the Mount Macpherson tenement.

Avira Resources Limited

Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia

1. 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au ABN: 38 131 715 645

A number of these anomalies continue for several kilometres along strike within interpreted structures. These anomalies are defined by discrete late-time conductors, modelled at shallow depths which are potentially caused by sulphide mineralisation. Avira considers these are compelling structural and geophysical targets for further exploration.

Commenting on the announcement today, Avira's Executive Director David Deloub said;

"The Paterson Project EM survey has defined multiple conductors that our geophysical consultant has identified as high priority for follow up work. We are encouraged by the presence of these conductors which appear to be hosted in structures and coincide with magnetic anomalies. We are moving swiftly to complete ground geophysical confirmation for drill testing."

Figure 1. Location of Avira's Paterson Projects in relation to major mines and emerging coper-gold prospects showing committed

exploration expenditures by major joint ventures in the region.

Avira EM Survey

Avira engaged NRG Australia Pty Ltd (NRG) to complete a high-resolution helicopter borne Xcitetm electromagnetic and magnetic survey over the project area. Further details of the survey parameters are contained in the JORC Table 1 attached to this announcement.

Data was collected and processed by specialist geophysical consultancy Southern Geoscience Consultants Pty. Ltd. (SGC). Individual line profiles were visually inspected after processing and a series of anomaly picks generated. SGC has identified strong (red), moderate (Yellow) and weak (blue) conductors (figure 2) and defined a series of targets (figure 3). A tabulation of SGC's targets is presented in the appendix, table 1.

Avira Resources Limited

Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia

1. 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au ABN: 38 131 715 645

Figure 2 strong (red), moderate (yellow) and weak (blue) EM Anomalies defined by SGC, on RTP magnetic imagery

Avira Resources Limited

Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia

1. 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au ABN: 38 131 715 645

Figure 3 Priority target zones highlighted by SGC from Paterson EM survey, on channel 25 conductivity image

Airborne electromagnetic (EM) survey results have defined a series of electromagnetic responses in late time channels which are consistent with, and have been interpreted as potential accumulations of sulphides in the subsurface.

Early time channels are usually associated with conductive overburden or conductive regolith and in certain areas of the tenement these early time responses are coincident with late time responses where responses from sulphides may be concealed by regolith effects. Targets have been selected based on late time short amplitude responses less likely to be caused by regolith conductors.

Avira Resources Limited

Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia

1. 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au ABN: 38 131 715 645

Pipeline Target (SGC_5572_1 & 3)

Several subtle mid to late time EM anomalies are present on E45/5572, with a significant and extensive anomaly present along approximately 8 kilometres of strike through the tenement (figure 4) with 3 kilometres of conductor identified as 'high priority' by SGC (refer table 1).

The EM anomaly is coincident with a linear magnetic anomaly. The Pipeline Target has not been tested by Avira's soil geochemistry and is concealed by wind blown sand, alluvium, laterite and sand dunes. A broad early to late time conductive response is present to the immediate south-west of the Pipeline Target and is likely related to the laterite horizon.

Figure4 Channel 20 conductivity response over E45/5572 and Avira Resources interpreted targets

Gwardar Target (including SGC_5572_3)

A sinuous magnetic and conductive response is present within the broad laterite response with several conductive targets identified by the geophysical interpretation. Collectively these anomalies continue for approximately nine kilometres as elevated magnetism coincident with mid-time conductivity features.

The anomaly is potentially related to sulphides within bedrock due to the coincidence of magnetic and conductive responses. The sinuous shape of the anomaly suggests that it is potentially folded and controlled by stratigraphic features in the basement. Geological mapping within this area has shown considerable deformation.

Extensive mid-time EM responses are present in the tenement with a NNW trend (SGC_5572_4), and are up to several hundred metres strike length. These anomalies coincide, broadly, with a set of tight,

Avira Resources Limited

Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia

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sheared out folds within the area. Other discrete late time responses in the south-east of the tenement (SGC_5572_2) occur in lateritised and covered terrain and require follow-up geophysics and in-fill geochemistry.

Throssel Range

The EM survey flown over the Throssel Range tenement has shown several discrete but subtle late- time responses that occur across one to three flight lines. These responses are associated with northeast structural corridors where the interpreted and mapped structures cut the conductive stratigraphy of the Tarcunyah Group (figure 3).

SGC's target picks include SGC_5567_5, a strong conductor associated with possible demagnetisation and SGC_5567_3, a ~700m long mid-time response on 3 flight lines associated with a lithological contact within the prospective structural corridor.

Anomalies have been returned from the Archaean basement (SGC_5567_4) in an area mapped as greenstone (dolerite). Conductivity here is associated with a lithological contact and persists ~700m across 3 flight lines. The area has not been mapped or sampled and requires additional ground truthing.

Interpretation

The Avira EM survey has significantly improved the resolution of magnetic data over the project and has highlighted a significant NE trending structural feature (Pipeline Target) on E45/5772 which has coincident mid to late time conductors and magnetic anomalism (figure 4).

The Pipeline Target is interpreted to be caused by magnetic and conductive minerals within a NE trending fault structure. The conductive mineral is thought to most likely be pyrrhotite a magnetic sulphide that can explain coincident magnetic and EM anomalies. Pyrrhotite is known to be associated with base metal sulphide mineralization at other base metal prospects within the Paterson province and on this basis, Avira considers that the Pipeline and Gwardar targets are prospective for base metal sulphide mineralization.

Within E45/5567 Throssel Range magnetic data has identified a north east structural trend which defines compartments of rock with varying conductivity. Avira Resources interprets this to potentially be caused by alteration of sulphides within the stratigraphy or deeper weathering. Subtle late time conductors exist on the contacts of the major stratigraphic units within the NE structural corridor, and may represent sulphide mineralisation (Figure 3).

Follow Up Exploration

The Company has now compiled the data from the initial exploration program including all available geological, geochemical and geophysical information.

On interpretation of these results the Company is planning to undertake a ground based Moving Loop EM survey on priority areas of interest including; Pipeline, Gwardar and other Priority 1 Conductors.

Avira Resources Limited

Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia

1. 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au ABN: 38 131 715 645

Planning has commenced with the Company's geophysical consultant, with a crew scheduled to mobilise to site within four to six weeks to begin data collection with final results expected by the end of the Quarter.

This focused ground based program is designed to delineate priority RC drill targets within the areas of interest.

The Company has received preliminary and incomplete soil sampling results and is planning on completing coverage over the tenements priority targets identified from the recent EM survey.

Avira intends to mobilise a drill rig and crew as soon as practicable pending receipt and interpretation of the geochemistry and geophysical data generated from this program. The Company has begun preparing a Programme of Works, and (if required) a Heritage Clearance Survey to open up access tracks and base lines to support drilling activities. The timing of drilling will be contingent upon receipt of all land access and heritage clearances and satisfactory weather conditions.

For, and on behalf of, the Board of the Company, and authorised for release.

David Deloub	Investor Relations/Media Contact
Executive Director	Sarah Lenard - Advisir
Avira Resource Limited	Telephone: [phone]
	Email: [e-mail]
	-ENDS-
Forward looking statements

This announcement contains forward-looking statements which are identified by words such as 'may', 'could', 'believes', 'estimates', 'targets', 'expects', or 'intends' and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this announcement, are expected to take place. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, the directors and our management. We cannot and do not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this prospectus will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. We have no intention to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this announcement, except where required by law. These forward looking statements are subject to various risk factors that could cause our actual results to differ materially from the results expressed or anticipated in these statements.

Competent Persons Statement

The information in this announcement that relates to Exploration Results is based on and fairly represents information and supporting documentation prepared by Mr Roland Gotthard. Mr Gotthard is a consultant geologist for AVW and a member of the Australian Institute of Mining and Metallurgy. Mr Gotthard has sufficient experience relevant to the styles of mineralisation and types of deposits which are covered in this announcement and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' ("JORC Code"). Mr Gotthard consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

About Avira Resources Limited

Avira Resources (AVW)is an ASX listed mining exploration company which currently holds two tenement packages within the Paterson Range province which is host to a number of substantial gold, copper and manganese mines and deposits, including the Telfer gold-copper mine. Subsequent significant recent discoveries made by Rio Tinto (Winu project) and the Newcrest- Greatland Gold JV (Havieron project) has reinvigorated interest in the province.The Avira projects are situated in the Yeneena basin sedimentary rock formation that hosts both the Nifty and Maroochydore copper deposits and the Woody Woody Manganese mine.

Avira Resources Limited

Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia

1. 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au ABN: 38 131 715 645

Avira Resources Limited Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia

1. 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au ABN: 38 131 715 645

J O R C C O D E , 2 0 1 2 E D I T I O N - TA B L E 1

• SECTION 1 SAMPLING TECHNIQUES AND DATA (Criteria in this section apply to all succeeding sections.)

Criteria

JORC Code explanation

Commentary

•

Sampling

•

Nature and quality of sampling (e.g. cut

•

XCite airborne

electromagnetic and

techniques

channels, random chips, or specific

magnetic survey

specialised industry standard measurement

• The survey was conducted at a mean

tools appropriate to the minerals under

terrain clearance of 35 metres using a

investigation, such as down hole gamma

helicopter towed array

sondes, or handheld XRF instruments, etc).

transmitter/receiver loop.

These examples should not be taken as

• Magnetic data was captured using a

limiting the broad meaning of sampling.

magnetometer

with a mean

terrain

•

Include

reference to

measures taken to

clearance of

60 metres, and

digital

ensure

sample representivity

and

the

elvation data collected. Line spacing

appropriate

calibration

of

any

was 200 metres.

measurement tools or systems used.

• Both Xcite surveys were flown with 200

• Aspects

of

the

determination

of

metre line spacing on a bearing of 900

mineralisation

that are

Material to

the

- 2700. The Throssel tenement survey

Public Report.

consisted of 148 flight lines for a total of

• In cases where 'industry standard' work has

608 km covering an area of

been done this would be relatively simple

approximately 100 km2. The Mt.

(e.g. 'reverse circulation drilling was used to

Macpherson tenement survey

obtain 1 m samples from which 3 kg was

consisted of 139 lines for a total of 707

pulverised to produce a 30 g charge for fire

km covering an area of approximately

assay'). In other cases, more explanation

130 km2

may be required, such as where there is

• Soil samples were collected as 100-

coarse gold that has inherent sampling

problems.

Unusual

commodities

or

200g of +0.4mm/ -2mm

mineralisation

types

(e.g.

submarine

nodules) may warrant disclosure of

detailed information.

Drilling techniques

• Drill type

(e.g. core,

reverse

circulation,

•

N/A

open-hole hammer, rotary air blast, auger,

Bangka, sonic, etc) and details (e.g. core

diameter, triple or standard tube, depth of

diamond tails, face-sampling bit or other

type, whether core is oriented and if so, by

what method, etc).

Drill

sample

• Method of recording and assessing core

•

N/A

recovery

and chip sample recoveries and results

assessed.

•

Measures taken to maximise sample

recovery and ensure representative nature

of the samples.

•

Whether a relationship exists between

sample recovery and grade and whether

sample bias may have occurred due to

preferential

loss/gain

of

fine/coarse

material.

Logging

• Whether core and chip samples have been

•

N/A

geologically and geotechnically logged to

a level of detail to support appropriate

Mineral Resource estimation, mining studies

and metallurgical studies.

• Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

• The total length and percentage of the relevant intersections logged.

Avira Resources Limited

Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia

1. 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au ABN: 38 131 715 645

Criteria

JORC Code explanation

Commentary

•

Sub-sampling

•

If core, whether cut or sawn and whether

• Soil samples had duplicates performed

techniques

quarter, half or all core taken.

every 20 samples in the field

and

sample

•

If non-core, whether riffled, tube sampled,

• Soil samples appear to be appropriate

preparation

rotary split, etc and whether sampled wet

to the material and regolith in the area

or dry.

• Samples were analysed by AR10/MS 33

• For all sample types, the nature, quality and

elements + Au method at Intertek

appropriateness of the sample preparation

Laboratories, Perth

technique.

• Quality control procedures adopted for all

sub-sampling

stages

to

maximise

representivity of samples.

• Measures taken to ensure that the 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

the grain size of the material being

sampled.

•

Quality

of

•

The nature, quality and appropriateness of

•

Standards, duplicates were inserted into soil

assay data and

the assaying and laboratory procedures

sampling batches

laboratory tests

used

and

whether

the

technique

is

•

Insufficient

QAQC data

points

exist

for

considered partial or total.

Certified Reference Materials submitted to

• For

geophysical

tools,

spectrometers,

the laboratory to ascertain laboratory

handheld XRF instruments, etc, the

performance on soil sampling batches at this

parameters used in determining the

stage

analysis

including

instrument

make and

•

Preliminary

QAQC

analysis

indicates

model, reading times, calibrations factors

acceptable

laboratory

performance and

applied and their derivation, etc.

acceptable field dulicate performance

•

Nature

of

quality

control

procedures

•

Xcite tm instrumentation

adopted

(e.g.

standards,

blanks,

duplicates,

external

laboratory

checks)

and whether acceptable levels of

accuracy (i.e. lack of bias) and precision

have been established.

•

Verification

of

•

The verification of significant intersections

•

Sample data was collected in the field in

sampling and

by either independent or alternative

sampling booklets, with data entry into Excel

assaying

company personnel.

spreadsheets

•

The use of twinned holes.

•

Data was compiled into a MS Access

•

Documentation of primary data, data

relational database

entry procedures, data verification, data

storage

(physical

and

electronic)

protocols.

• Discuss any adjustment to assay data.

•

Location

of

•

Accuracy and quality of surveys used to

•

Soil sampling was located in the field using

data points

locate drill holes (collar and down-hole

hand held GPS units with an accuracy of +/-

surveys), trenches, mine workings and other

3m

locations

used

in

Mineral

Resource

•

Data was

collected in

Map Grid of

of

estimation.

Australia 1994 zone 50 South

• Specification of the grid system used.

• Topographic control was via Sattelite Radar

•

Quality and adequacy of topographic

Tomographic Measurement (SRTM) 20m and

control.

Digital Elevation Model via heli EM survey

collected with RTK GPS +/- 1m accuracy

•

Data

spacing

•

Data spacing for reporting of Exploration

•

Soil sample spacing is at a nominal 800m x

and distribution

Results.

50m and is substantially incomplete at this

• Whether the data spacing and distribution

time

is sufficient to establish the

degree

of

•

This spacing is considered insufficient to

geological

and

grade

continuity

detect potential mineralisation over lengths

appropriate for the Mineral Resource and

less than 800m

Ore Reserve estimation procedure(s) and

classifications applied.

Avira Resources Limited

Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia

1. 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au ABN: 38 131 715 645

Criteria		JORC Code explanation	Commentary
			•	Whether sample compositing has been
				applied.
•	Orientation	of	•	Whether the orientation of sampling	•	N/A
	data in relation		achieves unbiased sampling of possible
	to geological		structures and the extent to which this is
	structure			known, considering the deposit type.
			• If the relationship between the drilling
				orientation and the orientation of key
				mineralised structures is considered to have
				introduced a sampling bias, this should be
				assessed and reported if material.
•	Sample		•	The measures taken to ensure sample	•	Samples were delivered via commercial
	security			security.		courier company
•	Audits	or	• The results of any audits or reviews of	•	Not applicable
	reviews			sampling techniques and data.

Avira Resources Limited

Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia

1. 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au ABN: 38 131 715 645

Section 2 Reporting of Exploration Results

Criteria listed in the preceding section also apply to this section.

Criteria			JORC Code explanation					Commentary
•	Mineral			•	Type, reference name/number, location and		• E45/5567 Throssel Range and E45/5772 Mt
	tenement	and		ownership including agreements or material			Macpherson are owned 100% by Avira
	land	tenure		issues with third parties such as joint ventures,			Resources Limited or its subsidiaries
	status				partnerships, overriding royalties, native	title		• Heritage clearances and agreements are
					interests, historical sites, wilderness or national
							in place with the Western Desert Lands
					park and environmental settings.
								Council and its associated Traditional
				•	The security of the tenure held at the time of			Owner contituents
					reporting along with any known impediments
					to obtaining a licence to operate in the area.
•	Exploration		•	Acknowledgment	and	appraisal	of		• E45/5567 was explored in the 1970's by
	done by other		exploration by other parties.					Western Mining Corporation Limited with
	parties										limited mapping traverses conducted
										•	E45/5572 has not been substantively
											explored by any previous explorers, but
											has been covered under previous tenure
											resulting in no prior soil, rock or drill
											sampling to the knowledge of Avira
											Resources Ltd
•	Geology			•	Deposit type, geological setting and style of		• E45/5567 covers the Tarcunyah Group, a
					mineralisation.						Proterozoic sedimentary basin within the
											Paterson Province
										• E45/5572 covers elements of the Coolbro
											Snadstone, within the Yeneena Group of
											the Paterson province
										• The tenements are covered by aeolian
											sand and laterites in part
•	Drill		hole	•	A summary of all information material to the		•	N/A
	Information		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.

Avira Resources Limited

Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia

1. 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au ABN: 38 131 715 645

Criteria

JORC Code explanation

Commentary

•

Data

•

In

reporting

Exploration

Results,

weighting

•

N/A

aggregation

averaging

techniques,

maximum

and/or

methods

minimum grade truncations (e.g. cutting of

high grades) and cut-off grades are usually

Material and should be stated.

• Where aggregate intercepts incorporate short

lengths of high grade results and longer lengths

of low grade results, the procedure used for

such aggregation should be stated and some

typical examples of such aggregations should

be shown in detail.

• The assumptions used for any reporting of

metal equivalent values should be clearly

stated.

•

Relationship

• These relationships are particularly important in

•

N/A

between

the reporting of Exploration Results.

mineralisation

•

If

the geometry

of

the

mineralisation with

widths

and

respect to

the drill

hole

angle

is

known,

its

intercept

nature should be reported.

lengths

• 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 scales)

• A map showing the excised tenements is

and tabulations of intercepts should be

provided

included

for any

significant

discovery being

•

Maps of selected geophysical survey

reported

These should

include, but

not

be

images are provided

limited to a plan view of drill hole collar

locations and appropriate sectional views.

•

Balanced

• Where comprehensive reporting of all

• Avira has reported its own interpretations

reporting

Exploration Results is not practicable,

of the geophysical results separate from

representative reporting of both low and high

and in addition to intepretations and

grades and/or widths should be practiced to

targets defined by Southern Geoscience

avoid misleading reporting of Exploration

Consultants

Results.

•

Other

• Other exploration data, if meaningful and

•

Not applicable

substantive

material, should be reported including (but not

exploration

limited

to):

geological

observations;

data

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 work

•

Completion of soil sampling over the

(e.g. tests for lateral extensions or depth

geophysical targets

extensions or large-scalestep-out drilling).

• Ground based electrical geophysics

•

Diagrams

clearly

highlighting

the areas

of

• Heritage clearances for ground disturbing

possible

extensions,

including

the

main

activities

geological

interpretations

and

future

drilling

• Compilation and interpretation of results

areas, provided this information is not

•

Drilling

commercially sensitive.

Avira Resources Limited

Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia

1. 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au ABN: 38 131 715 645