History
Tally Ho is located 45 kms south-west of Mackay in central coastal Queensland, and consists of two (2) Mining Leases (ML's 4770 and 4727), a surrounding Mineral Development Licence Application (MDL272) and a twenty-four (24) sub-block (76km²) Exploration Permit for Minerals EPM 15168 (Connors Range). Adjacent EPM 15775 (Dennison Creek) covers 78km² (23 sub-blocks).

In addition, a further exploration area (Mt Scott) for silver has been granted in the Mackay region. The historic Tally Ho workings consist of two short adits, a shaft and further afield, numerous shallow pits and trenches. The mine area was discovered around the turn of the century and selectively mined in a very small way from then until about 1915. The current mining leases have been privately held since 1974 and there has been no systematic surface exploration activity for silver, and no drilling has been carried out prior to that by Macmin.

The most comprehensive report on the property is that of Blanchard (Chief Geologist MIM, 1937), who examined and mapped some of the 'greisen' ('dogstooth' quartz vein) outcrops (Photo 1 & 2) in the area and carried out detailed channel sampling of the mineralisation along the 6 ft level (i.e. Adit No. 1), the 47 ft level (i.e. Adit No. 2) and the 64 ft level. Blanchard's best results came from Adit No. 2 where he recorded 13.1m at 273g/t silver, 2.69% zinc, 2.6% lead and 0.68% copper. He also recorded significant gold values but these could not be substantiated from re-sampling by the previous tenement holders.

Geology
The Tally Ho breccia lode crops out as a discontinuous lenses over a 400m along an 030º trend on the southern slope of a granite hill. Drilling by Macmin has revealed significant silver, zinc, copper, lead and gold mineralisation in the breccia. The granite forms part of the late Carboniferous to early Permian Tally Ho Igneous Complex, on the eastern flank of the Connors Range. The unit comprises light grey, fine to medium grey equi-granular hornblende, biotite granite (strongly greisenised in places) and locally contains tourmaline quartz pegmatite.

At Tally Ho, the near surface mineralisation is composed of brecciated granite that has been sericite altered and cemented by comb quartz and sulphides. The two adits provide ideal exposure of the breccia texture and nature of the mineralisation. In Adit No. 1, the mineralisation is 10m wide (true) and dips 70º to the east with well developed ‘shear planes' marking the foot wall and hanging wall contacts of the mineralisation with the host granite. The adit sampling by Blanchard and later confirmed by the current tenement holders reveals that areas of higher grade mineralisation occur within a couple of metres of the hanging wall and foot wall contacts.

A ground magnetic geophysical survey has revealed the presence of an annular magnetic anomaly covering 2-3 sq. km. The Tally Ho breccia is associated with part of the magnetic anomaly. Drilling by Macmin has located disseminated and veinlet magnetite in intrusive units beneath the magnetic anomaly.

Macmin considers that the breccia hosted silver lead zinc and magnetite alteration are indicative of hydro-thermal alteration and mineralizing systems associated with the top of a buried younger near surface intrusive, thereby making this area highly prospective for intrusion related mineralizing systems (silver gold zinc lead and copper).

Drilling
Drilling completed by Macmin to August 2007 has seen 50 RC (reverse circulation) and 17 diamond drill holes completed for a total of 11,197 metres. Significant intersections of silver gold zinc lead and copper mineralisation of potentially economic grades have been encountered. A resource study will be prepared for early 2008. Cross Sections are found in Maps & Photos.

The drilling highlights table features some of the better intersections.

Exploration permits Connors Range (EPM 15168) and Denison Creek (EPM 15775) cover the major part of the Tally Ho Intrusive Complex and so will be evaluated for silver and base metal mineralisation similar to that hosted by the geology at Tally Ho.