Consistent results raise confidence in the Maronan model

Maronan Metals intersects more ore-grade silver and lead within the Starter Zone at its Maronan project
Consistent results received to date have increased confidence in the Maronan resource model
Assays for a further 11 holes are pending while additional work is ongoing

Special Report: Drilling at Maronan Metals’ namesake project in Queensland continues to return more wide intersections of ore-grade silver with lead within the Starter Zone.

Notable assays are 18.41m grading 5.3% lead and 146g/t silver in hole MRN24005 and 11.94m at 7.8% lead and 158g/t silver in MRN24006.

Maronan Metals (ASX:MMA) adds that the wide intervals intersected in these two and surrounding holes occur within the Eastern Horizons mainly as the soft, bedded carbonate-lead sulphide ore type.

These continuous thick intervals of soft ore, together with their steep geometry, offer significant comminution, processing and potentially bulk mining cost advantages.

Adding interest, the results increase confidence in the resource model at Maronan, which is located just 90km north of the giant Cannington silver-lead-zinc mine and is already one of Australia’s largest and highest-grade undeveloped silver resources at 32.1Mt grading at 6.1% lead and 107g/t silver for 300Moz silver equivalent metal.

“These consistent results continue to build our confidence in the Maronan resource model. This predictability is a key characteristic of the bedded Maronan silver-lead ore and an essential characteristic for any successful mine development,” managing director Richard Carlton said.

“Drilling on the down plunge potential of the thickened high-grade zones is ongoing and a resource review will be undertaken early in 2025 once all assay results are at hand.”

Maronan drilling

Close-spaced drilling at Maronan is aimed at understanding the shorter-range grade and thickness variability of the bedded sulphide mineralisation.

Understanding this variability will assist in optimising ongoing drill spacing and feed into resource estimation search distance parameters.

Hole MRN24005 is ~30m south of MRN24004, which intersected 15.85m at 4.1% lead and 111g/t silver, ~60m updip of MRN23007.

It intersected potentially mineable widths of silver-lead sulphide intercepts from both the Western and Eastern Horizons.

Meanwhile, hole MRN24006 – the fourth and final hole in the group of holes testing short range variability of the mineralisation ~40m downdip of MRN24004 – also intersected significant silver-lead mineralisation in the Western and Eastern Horizons.

MMA notes that the consistency in width and grade of mineralisation between MRN24003, MRN24003W1, MRN24004, MRN24005 and MRN24006 shows good short-range repeatability which is essential for successful mine development.

Ongoing drilling and other work

The company has completed more than 7000m of drilling in its 2024 drill program with assays pending for a further 11 holes over the next few months.

MMA will drill geotechnical test holes along a potential alignment of an access decline to assess likely ground conditions for excavation of a boxcut.

Additional metallurgical test work, geotechnical studies and key permitting activities are ongoing.

This article was developed in collaboration with Maronan Metals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.