Maritana uncovers deeper Boorara gold ahead of resource upgrade

Boorara drilling confirms gold below planned pit

Maritana Minerals Limited (ASX:MRT) has finished the drilling campaign that will help define its next Boorara mine plan, with the final 52 reverse-circulation holes delivering both stronger resource definition and evidence of gold below the planned southern open pit. The most notable result was 36 metres at 3.53 g/t gold from 142 metres in hole BOORD260149, including one metre at 62.44 g/t, drilled down plunge from the bottom of Pit 4.

“Cross Section 3 (Pit 4), showing intercepts in BOORD260052 ( previously reported5), BOORD260053, BOORD260054 within the designed pit shell and BOORD260149 approximately 80m…”

That hole also returned several shallower and intermediate mineralised zones, including 20 metres at 1.75 g/t from 34 metres. A second down-dip hole, BOORD260148, returned 12 metres at 1.28 g/t from 12 metres. Maritana cautions that these holes were designed to test the orebody’s geometry and depth extension, so the reported intervals are downhole lengths rather than representative true widths.

Infill results sharpen the resource model

The broader infill program produced a series of results between the recently mined Pits 2 and 4. Highlights included 20 metres at 7.77 g/t gold from 100 metres in BOORD260054, including two metres at 54.03 g/t, alongside 19 metres at 1.63 g/t in BOORD260056 and 19 metres at 1.32 g/t in BOORD260100.

“Cross Section 1 (Pit 2-3), looking north-east, showing 2026 drill traces and significant intercepts between Pit 2 and Pit 3.”

“Cross Section 2 (Pit 3-4), looking north-east, showing 2026 drill traces and significant intercepts between Pit 3 and Pit 4.”

Caption and image © Maritana Minerals Limited. From “Boorara Drill Results Support Higher Resource Confidence”, 5 Nov 2026.

The company said the drilling better defined the main contact lodes, constrained mineralised widths and indicated that gold zones may be wider in places than previously interpreted. The campaign also extended the mineralisation envelope along strike and down dip, with the system remaining open to the north and at depth. This builds on the September Pit 4 drilling, which had already identified mineralisation beneath the planned pit floor while leaving the deeper system unresolved.

Resource update comes before mine restart decisions

The results cover the final 52 holes of a 119-hole Boorara program forming part of Maritana’s roughly 60,000-metre resource conversion campaign across multiple deposits. The company plans to re-interpret the mineralisation wireframes before incorporating the data into an updated Mineral Resource Estimate scheduled for the March 2027 quarter, followed by further pit optimisation.

“Boorara Gold Project drill collar plan showing final 2026 reverse circulation drilling coloured by maximum downhole gold grade, Maritana tenements and the locations of Cross…”

“Maritana Minerals Production Hub and project locations, regional geology and surrounding infrastructure.”

Caption and image © Maritana Minerals Limited. From “Boorara Drill Results Support Higher Resource Confidence”, 5 Nov 2026.

Boorara is intended to be one of the key ore sources for the Black Swan Processing Hub, with mining restart targeted for mid-2027. That schedule sits alongside the hub’s construction program, which Maritana recently moved into active construction after securing its process-plant approvals in the Black Swan construction program. Diamond drilling for mining assumptions and quality assurance, followed by grade-control drilling, is planned before production resumes.

High grades come with modelling still to be done

The results are encouraging for the geological model, but they do not yet establish how many additional ounces will enter the Mineral Resource, Ore Reserve or mine plan. All reported intersections are downhole, some holes intersect the steeply oriented mineralisation obliquely, and two holes stopped early because of deteriorating ground conditions and excessive deviation. Maritana said those holes are not expected to materially affect the coming resource update, although re-drilling remains under review.