The Maronan Project is located in the prolific, world-class North-West Minerals Province, Queensland and is one of Australia’s largest and highest grade undeveloped silver resources. The principal goal of the Maronan Metals team, which is comprised of a highly credentialed Board and experienced mine startup professionals, is to turn this discovery into a mine in Queensland’s prolific North West mineral province.
In October 2023, Maronan Metals successfully completed the 18-month drilling phase of its exploration program, within budget. The total exploration drilling since inception of the current program in August 2022 is 16,783.9 metres. Drilling continued to build confidence in the near surface Starter Zone with several wide intercepts of high tenor silver and lead mineralisation reported on each of the Western and Eastern Horizons. Drilling further demonstrated the strong geological and grade continuity of the separate Western and Eastern Horizons re-enforcing its resource and near-term development potential.
Ongoing assay results from the 2023 drilling program have returned additional wide, shallow intercepts of high-grade silver with lead mineralisation within the Starter Zone.
Compilation of the new results is showing excellent continuity of both the geology and mineralisation throughout the Eastern Horizon, again supporting its near-term development potential.
Maronan also has a substantial copper-gold resource. The 2023 drilling programme demonstrated improved continuity of copper mineralisation which remains open at depth and provided samples for conducting preliminary metallurgical testwork.
Work has commenced on a Resource and Scoping Study review with an update to be provided in the first half of CY2024.
Managing director - Richard Carlton
Richard Carlton is a senior executive with over 30 years of extensive mining operations management experience in Australia and internationally across a range of commodities. He has held the position of General Manager at Edna May in Western Australia (Evolution Mining), Stawell Gold Mines in Victoria (Mining Project Investors Pty Ltd), Waihi Gold Mine in New Zealand (Normandy Limited) and the Westonia and the Golden Crown Gold Mines in Western Australia (Australian Consolidated Minerals Ltd).
Mr Carlton’s extensive base metals experience includes North Limited’s mines, the Rosebery underground zinc/copper/lead mine in Tasmania and Elura zinc/lead/silver mine in Cobar NSW. Mr Carlton was also a key member of a focused team securing funding and developing a new metallurgical process.
Mr Carlton as Managing Director will not be considered to be an independent Director by the Board.
Non-executive chairman - Simon Bird
Mr Bird has over 30 years of international corporate experience, including holding the positions of General Manager Finance at Stockland Limited, Chief Financial Officer of GrainCorp Limited, and Chief Financial Officer of Wizard Mortgage Corporation and former Director of CPA Australia Limited. He was also Chief Executive Officer of ASX-listed tungsten deposit developer King Island Scheelite Limited and Managing Director of ASX listed gold explorer Sovereign Gold Limited.
A former Non-Executive Director of ASX-listed oil and gas company Rawson Resources Limited and resources company Pacific American Holdings Limited, Mr Bird is currently Lead Independent Non-Executive Director of Mount Gibson Iron Limited (ASX:MGX).
Exploration manager - Andrew Barker
Mr Barker is a geology professional with 15 years’ experience in safely leading and delivering exploration programs in the exploration, resource definition and in-mine settings.
Member of team that discovered the GRE46 deposit at Cowal, and the Pegasus, Millennium, Paradigm North and Velvet deposits in the Kalgoorlie district
Held senior exploration roles with Northern Star and most recently Evolution Mining. Based in Cloncurry.
Non-executive technical director - Robert Rutherford
Mr Rutherford is a geologist with over 30 years’ Australian and international exploration experience and has been involved in generative, feasibility and management roles in the copper, gold and base metal exploration industry.
Mr Rutherford was formerly employed by Phelps Dodge Australasia Inc. for over 9 years where he was promoted to Australian Exploration Manager and internal expert on Iron-Oxide Copper-Gold hydrothermal systems and Sediment-Hosted copper deposits. Mr Rutherford founded Red Metal Limited in 2003, and has been Managing Director of Red Metal Limited (ASX:RDM) since its IPO in October 2003.
As Mr Rutherford is a director of Red Metal, the Board does not consider him to be an independent Director.