MGT Resources, through its 89.48% owned subsidiary MGT Mining, owns a suite of tin and gold projects throughout Queensland, Australia.
MGT has recently began its 2nd drilling program at its leading Pyramid gold project near Charters Tower in Queensland. Drilling by MGT in 2012 confirms that Pyramid has the potential to become a large, low grade gold resource. MGT also holds a number of strong growth gold projects, the Southern Queensland Projects.
The Mt Garnet Tin project is currently on Care and Maintenance given the currently depressed tin price, MGT will resume its production plan once tin price return to favourable level.
The Mount Garnet Project is MGT’s flagship project, includes the following tenements:
The Pyramid project is located within in the Drummond Basin, North Queensland and is located on a major north-northeast trending belt of gold mineralisation developed over a strike length of 20 km.
MGT has three separate gold prospect areas in Southeast Queensland, Yarrol, Mt Steadman and Gooroolba . MGT aims to advance these projects with further drilling and to assess the amenability of heap leaching at Mt Steadman and of trucking higher grade gold from Yarrol.