Maronan Metals drilling points to early mining potential

• Maronan Metals drilling returns high-grade copper-gold in shallow Starter Zone
• Discovery of several high-grade zones may present early mining options
• Work underway to update resource estimates at Starter Zone and Eastern Horizon

Special report: Final assays from Maronan Metals’ drilling at its namesake project in Queensland’s Northwest mineral province have returned high-grade copper-gold intersections.

Results from several high-grade copper-gold zones – such as 15.35m at 0.78% copper and 0.53g/t gold from 365m, including 1.47m at 3.55% copper and 1.85g/t gold from 374.25m – in the shallow Starter Zone may present early mining options.

Meanwhile, results such as 5.21m at 4.5% lead and 335g/t silver from 475m and 5.65m at 5.2% lead and 131g/t silver from 484m in the same hole demonstrate strong continuity of silver-lead mineralisation along the Eastern Horizon.

Adding further interest for Maronan Metals (ASX:MMA), drilling targeting the northern end of the Starter Zone shows the Eastern Horizon shoot remains open while copper mineralisation strengthens towards the northern end of the Starter Zone.

“These results finalise the 2024 drilling program which has been very successful. It’s very pleasing to see solid silver-lead and copper-gold results,” MMA managing director Richard Carlton said.

“The team has been preparing for these results to come in and has commenced updating the mineral resource estimates for the Starter Zone silver-lead and the copper-gold resource.

“The infill drill program continues to build momentum towards the project being ‘mine ready’.”

Drill results

Hole MRN24015 targeted the Eastern Horizon silver-lead mineralisation about 40m below  an historical hole and intersected a wide interval of silver-lead mineralisation along with a potentially mineable interval of gold and copper.

Meanwhile, MRN24017 that was targeted ~50m north of MRN23020 to test the northern extent of Eastern Horizon returned results such as 4.26m at 4.1% lead and 100g/t silver from 485m and 4.11m at 1.35% copper, 0.67g/t gold and 6g/t silver from 364.89m in the copper-gold zone.

Earlier assays from the Eastern and Western Horizons had highlighted the scope for untested extensions while noting the emergence of continuous lodes of copper and gold mineralisation within the shallow Starter Zone.

MMA is now working on an update to resources within the two zones using results from the 2024 drill program.

Late wet season activity has allowed the company to carry out additional baseline surface water sampling while baseline noise monitoring and additional wet-season flora and fauna surveys are also in progress as part of ongoing permitting related works.

It is progressing meetings with various stakeholders related to the Mineral Development License application.

Heritage surveys for clearance of drill pads for the planned 2025 drilling program are scheduled for April.

Watch: Alto Capital’s Tony Locantro dishes his view on Maronan Metals

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.