Ronin Holds $3.39M Cash, Expands La Punilla Tenure Over 23,637 Hectares

Progress at La Punilla Gold-Silver Project

Ronin Resources Ltd (ASX: RON) has reported notable progress in its La Punilla gold-silver project located in the mineral-rich San Juan Province of Argentina. During the March 2025 quarter, the company submitted mineral exploration applications covering a substantial 23,637 hectares. This area is strategically positioned near established mining operations such as BHP and Lundin Mining’s Filo del Sol and Josemaría projects, underscoring its prospective potential for gold and silver mineralisation.

The La Punilla project benefits from its location within a region renowned for significant mineral deposits, including porphyry copper-gold-molybdenum and epithermal gold-silver systems. Ronin’s exploration focus is supported by a geological model highlighting Miocene intrusives with associated hydrothermal alteration, magnetic anomalies, and favourable lithologies, all promising vectors for mineralisation.

Challenges at the Vetas Project in Colombia

Meanwhile, Ronin’s Vetas Project in Colombia remains in a holding pattern due to ongoing socio-political instability that has delayed the commencement of a planned drilling campaign. Despite maintaining a local presence and ongoing engagement with the Colombian National Mining Agency (ANM), the company has been unable to initiate fieldwork. The ANM has granted a retrospective suspension of certain contractual obligations, including land tax and reporting requirements, reflecting the challenging operating environment.

Ronin has indicated that it will prioritize advancing its other projects, notably the Hornby Lake Lithium Project in Canada, while continuing to seek clarity on the timing for drilling at Vetas.

Hornby Lake Lithium Project Update

At the Hornby Lake Lithium Project in Ontario, Canada, Ronin completed its maiden field exploration program. Assay results confirmed the presence of fractionated LCT-type pegmatites and fertile granites, which are encouraging geological indicators. However, no lithium mineralisation was detected in the sampled pegmatites. The company is considering a follow-up field program targeting additional areas within the project, with plans to continue reconnaissance, rock chip sampling, and potentially channel sampling.

Ronin has also relinquished interest in the northern section of the project after assay data suggested it was unlikely to host an LCT pegmatite system, demonstrating a disciplined approach to portfolio management.

Financial Position and Business Development

Financially, Ronin Resources reported cash reserves of $3.39 million as at 31 March 2025, supported by a net cash outflow from operating activities of $71,000 for the quarter. The company remains well-funded to continue its exploration and evaluation activities. Related party payments disclosed relate primarily to director remuneration.

Importantly, Ronin continues to actively evaluate new business development opportunities, particularly in gold and copper sectors, aiming to enhance its portfolio and deliver shareholder value. This strategic flexibility may prove critical as the company navigates the complexities of multiple jurisdictions and commodity markets.

Outlook

Ronin Resources’ multi-asset approach across Argentina, Colombia, and Canada positions it to capitalize on diverse mineral opportunities. The advancement of La Punilla’s exploration tenure applications marks a key milestone, while the company’s cautious but proactive stance on the Vetas and Hornby Lake projects reflects prudent risk management amid external challenges.

Investors will be watching closely for regulatory approvals in Argentina, socio-political developments in Colombia, and further assay results from Canada, all of which will shape Ronin’s near-term trajectory.