Resource Upgrade Boosts Maronan’s Development Potential Amid Pending License Approval

Resource Growth and Confidence

Maronan Metals Limited (ASX:MMA) has announced a substantial update to its Mineral Resource Estimate (MRE) for the Maronan project in northwest Queensland, marking a significant milestone in the company’s journey to develop this large silver-lead and copper-gold deposit. The standout result is a 2.5-fold increase in the indicated silver-lead resource within the shallow Starter Zone, now estimated at 5.3 million tonnes grading 5.2% lead and 116 grams per tonne silver. This upgrade reflects the success of an extensive infill drilling campaign aimed at converting inferred resources into the higher-confidence indicated category.

Alongside this, Maronan Metals has reported a maiden indicated copper-gold resource within the Starter Zone of 1.6 million tonnes at 0.77% copper and 0.67 grams per tonne gold, highlighting the deposit’s polymetallic potential. The total inferred plus indicated silver-lead resource in the Starter Zone stands at 12.2 million tonnes at 5.0% lead and 112 grams per tonne silver, while the global silver-lead resource across the entire deposit is 33.1 million tonnes at 6.0% lead and 108 grams per tonne silver. The global copper-gold resource is similarly robust at 32.0 million tonnes grading 0.85% copper and 0.63 grams per tonne gold.

Geological and Technical Foundations

The resource update is underpinned by more than 27,000 metres of drilling completed over three years, combined with rigorous geological modelling and quality assurance/quality control (QAQC) protocols. The company’s technical team has re-logged historic drill core, implemented advanced 3D geological models, and applied ordinary kriging estimation techniques to ensure robust and reliable resource classification. Notably, the silver-lead mineralisation exhibits near-perfect geological and grade continuity, enabling almost 100% conversion from inferred to indicated resources without significant changes in tonnage or grade.

Maronan’s polymetallic mineralisation includes bedded silver-lead ores akin to Broken Hill-type deposits, structurally controlled copper-gold mineralisation similar to nearby Iron-Sulphide Copper-Gold systems, and a separate gold-only zone. Metallurgical testwork has demonstrated excellent recoveries and concentrate quality for both silver-lead and copper-gold ores, supporting the economic viability of potential mining operations.

Development Outlook and Next Steps

With this resource upgrade, Maronan Metals is advancing its preliminary scoping study and progressing a Mineral Development License application, expected to conclude by the end of 2025. The company plans to construct an exploration decline to facilitate underground drilling and bulk sampling, critical steps toward detailed mine planning and feasibility studies. Geotechnical assessments and ongoing metallurgical optimisation further strengthen the project’s development case.

Managing Director Richard Carlton emphasised the significance of these milestones, noting that the increased indicated resource base and maiden copper-gold resource provide a solid platform for unlocking the deposit’s value and moving closer to production. The company’s disciplined approach to geological understanding and resource modelling positions Maronan Metals well for the next phase of project advancement.