Maronan Metals is pushing ahead with its resource model after receiving more thick, high-grade lead and silver assays. Pic: Getty Images
Maronan’s drilling reinforces continuity of wide, strong lead-silver zones
Mining
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- Maronan Metals drilling has returned more high-grade lead and silver assays at its namesake project
- Results demonstrated the strong continuity of wide zones of silver and lead mineralisation
- Continuous lodes of copper and gold are also emerging within the shallow Starter Zone
Special Report: The receipt of more high-value assays from Maronan Metals’ 2024 drilling campaign have reinforced the strong continuity of wide zones of silver and lead mineralisation at its namesake project in Queensland.
Drilling along the Eastern and Western Horizons also highlighted the scope for untested extensions while continuous lodes of copper and gold mineralisation are emerging within the shallow Starter Zone that may represent early mining options.
Top new assays from Maronan Metals’ (ASX:MMA) drilling completed in December 2024 are:
- 20.9m grading 4.7% lead and 120g/t silver (220g/t silver equivalent) including 2.82m at 12.8% lead and 130g/t silver (421g/t AgEq) in hole MRN24014 in the Eastern Horizon;
- 31m at 5.1% lead and 70g/t silver (184g/t AgEq) including 4.9m at 13.9% lead, 191g/t silver and 1.2% zinc (502g/t AgEq) in hole MRN24010 in the Western Horizon; and
- 10.2m at 1.2% copper and 0.83g/t gold (MRN24014) and 11m at 0.51% copper and 2.26g/t gold (MRN24004) in the copper-gold zone.
Along with previous drilling returning continuous thick intervals of soft lead and silver-bearing ore in the Starter Zone, the results increase the confidence in the Maronan resource model.
This is doubly valuable given that the project is just 90km north of the giant Cannington silver-lead-zinc mine and already hosts one of Australia’s largest and highest-grade undeveloped silver resources at 32.1Mt grading 6.1% lead and 107g/t silver for 300Moz silver equivalent metal.
Optimised flotation test work has also proved that material from the project can be used to produce concentrates with outstanding grades of above 74% lead and 2900g/t silver with respective recoveries of 95% and 91%.
“The whole 2024 program has successfully confirmed the continuity of wide zones of strong silver with lead mineralisation building on the maiden Indicated Resource declared a year ago,” MMA managing director Richard Carlton said.
“We now look forward to receiving the last of the assay results and updating the resource model over the coming months, which should facilitate the publication of preliminary mining studies on the Starter Zone.
“The momentum towards being ‘mine ready’ continues to build.”
Drill results
MMA noted that holes targeting the Eastern Horizon continue to show strong continuity of mineralisation and geology with a steep down-dip plunge while Western Horizon drilling defined zones of higher-grade lead mineralisation and an area with more coherent zinc mineralisation.
Additionally, holes MRN24008 and MRN24009 have effectively extended the East 10 pyroxene domain by 100m in length, opening up potential for additional near-surface resources within the Starter Zone.
It noted that hole MRN24004, for which it had reported partial results in September 2024, had highlighted a wide interval of silver-lead mineralisation plus a potentially mineable interval of gold and copper mineralisation.
MRN24007 also intersected a wide interval of silver-lead mineralisation within the targeted Eastern Horizons plus potentially mineable intervals of gold and copper mineralisation and lead-silver mineralisation with the Western Horizon.
Meanwhile, hole MRN24010 that had targeted high tenor lead-silver mineralisation on the Western Horizon up-dip of historical drill hole MRN07001 successfully intersected wide zones of mineralisation that appears structurally thickened by folding.
Ongoing work program
MMA expects to receive results for the remaining holes from its 2024 drilling over the next four to six weeks.
It is also working on an updated mineral resource using results from the drill program.
Additionally, the company is establishing a weather station and conducting baseline noise monitoring studies as part of ongoing permitting related works.
It noted that establishing baseline environmental monitoring, in particular surface water sampling, is a priority during the wet season.
Meetings with various stakeholders related to the Mine Development License application are also progressing while preliminary plans for the 2025 drill season are being developed.
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.
