Maronan Metals reports robust assay results confirming extensive high-grade silver-lead mineralisation and promising copper-gold intercepts, alongside progress in mine development with a Mineral Development Licence application.
- Strong continuity of high-grade silver-lead mineralisation beyond 300 metres down-dip
- Significant copper-gold intercepts identified at northern Starter Zone
- Metallurgical test work yields high-grade silver-lead concentrates with excellent recoveries
- Mineral Development Licence application lodged to enable underground exploration decline
- Updated Mineral Resource estimate expected in June 2025 quarter
Robust Drilling Results Reinforce Resource Confidence
Maronan Metals Limited (ASX: MMA) has delivered a strong set of assay results from its 2024 drilling campaign focused on the Starter Zone of its flagship Maronan Project in northwest Queensland. The campaign, which concluded in December 2024, returned consistent high-grade silver-lead mineralisation extending over 300 metres down-dip and remains open for further expansion. These results underpin the geological and grade continuity essential for advancing the project towards mining feasibility.
Notably, the drilling identified wide zones of silver-lead mineralisation across both the Eastern and Western Horizons, with standout intercepts such as 31 metres at 5.1% lead and 70 g/t silver, including higher-grade intervals exceeding 13% lead. This continuity enhances confidence in the existing resource model and supports the upcoming Mineral Resource update scheduled for the June 2025 quarter.
Copper-Gold Intercepts Open Early Mining Options
In addition to silver-lead, the northern end of the Starter Zone revealed significant copper-gold mineralisation associated with a silica alteration zone. Intercepts include 15.35 metres at 0.78% copper and 0.53 g/t gold, with higher-grade veins reaching up to 3.69% copper and 12.2 g/t gold. These findings suggest potential early mineable targets that could diversify the project’s metal portfolio and improve economic flexibility.
Metallurgical Optimisation Confirms High Economic Value
Complementing the drilling success, metallurgical test work on the carbonate-hosted silver-lead ore has produced very high-grade sulphide concentrates grading over 74% lead and 2900 g/t silver. Recoveries were excellent, with up to 95% for lead and 91% for silver, achieved using industry-standard flotation reagents. Importantly, deleterious elements are below penalty thresholds after leach treatments, reinforcing the ore’s processing viability and economic attractiveness.
Early ore sorting trials also indicate potential for upgrading material prior to trucking, which could significantly reduce transport volumes and costs in an off-site processing scenario.
Progress on Permitting and Mine Development
Maronan Metals has taken a critical step forward by lodging a Mineral Development Licence (MDL) application with Queensland authorities. The MDL would enable the construction of an exploration decline, facilitating underground access for advanced drilling and bulk sampling. This move is pivotal for transitioning the project from exploration to development phases.
Concurrent environmental and geotechnical studies are advancing, addressing surface water, groundwater, flora and fauna, air quality, and noise impacts. Stakeholder engagement with government and local communities continues to ensure alignment and support for the project’s progression.
Financial Position and Outlook
During the March 2025 quarter, Maronan Metals reported exploration and evaluation expenditure of $1.34 million, with no mining production activities undertaken. The company ended the quarter with a healthy cash balance of $4.05 million, providing a runway of approximately three quarters at current expenditure levels.
Looking ahead, the market eagerly anticipates the updated Mineral Resource estimate in June 2025, which will inform scoping studies and mine scheduling. The combination of strong drilling results, metallurgical validation, and regulatory progress positions Maronan Metals well to unlock the value of its Cloncurry assets.
Bottom Line?
Maronan Metals’ solid drilling and metallurgical progress, coupled with regulatory advances, set the stage for a pivotal resource update and mine development phase.
Questions in the middle?
- When will the Mineral Development Licence be granted, and what conditions might affect its timing?
- How will the upcoming Mineral Resource update impact the project’s valuation and mine planning?
- What scale and timeline are anticipated for advancing from exploration decline to production?