Regulatory Hurdles and Economic Assessment Loom as Maronan Metals Boosts Resources

Resource Upgrade Signals Growing Confidence

Maronan Metals Limited (ASX, MMA) has delivered a substantial boost to its Maronan deposit in Northwest Queensland with an updated Mineral Resource Estimate (MRE) that more than doubles the indicated silver-lead resource in the shallow Starter Zone. The new figures reveal 5.3 million tonnes at 5.2% lead and 116 grams per tonne silver, up from previous estimates, alongside a newly identified near-surface copper-gold resource of 1.6 million tonnes grading 0.77% copper and 0.67 grams per tonne gold.

This upgrade reflects the results of extensive infill drilling completed in 2024, which has significantly increased the confidence in the deposit’s continuity and grade consistency. Notably, the resource conversion from inferred to indicated categories is nearly 100%, a rare achievement that underscores the geological predictability and potential mineability of the deposit.

Strategic Development Steps Underway

Alongside the resource upgrade, Maronan Metals has advanced critical regulatory milestones by lodging an Environmental Authority application as part of its Mineral Development Licence for a proposed underground exploration decline. This step is essential for gaining underground access and progressing towards early mine development. The company is actively engaging with local pastoral landowners and Traditional Owners to facilitate this process.

Meanwhile, the company is finalising a Preliminary Economic Assessment (PEA) for the Starter Zone, which will evaluate mining schedules and cost scenarios, including stand-alone and toll treatment options. The PEA results, expected in the September quarter, will provide crucial insights into the project’s economic viability and guide next steps.

Operational and Leadership Enhancements

Metallurgical test work continues on copper-gold ore samples to refine processing strategies, an important factor in unlocking the full value of the polymetallic deposit. Additionally, Maronan Metals has strengthened its board with the appointment of Matthew Hine, an experienced mining engineer with a track record of advancing polymetallic projects from feasibility to production. His expertise is expected to bolster the company’s operational capabilities as it moves towards development.

Financially, the company reported exploration expenditure of $780,000 for the quarter, with no mining production activities yet undertaken. Cash reserves stood at $3.03 million at quarter-end, providing a runway for ongoing exploration and development activities.

Regional Significance and Future Outlook

The Maronan deposit sits in the prolific Carpentaria Minerals Province, close to established mining hubs such as Cloncurry and the world-class Cannington silver-lead-zinc mine. With a global resource base containing over 122 million ounces of silver, 2 million tonnes of lead, 271,000 tonnes of copper, and 760,000 ounces of gold, Maronan Metals is positioning itself as a significant player in Australia’s base metals sector.

The combination of a growing, high-confidence resource, advancing regulatory approvals, and upcoming economic assessments places Maronan Metals on a promising trajectory. Investors and industry watchers will be keenly awaiting the PEA results to better understand the project’s commercial potential and timeline.