Maronan Metals’ 2024 drilling is off to a good start. Pic: Getty Images
MMA’s time to shine with 1520g/t silver bounty at QLD project
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- Maronan Metals hits a bonanza 1520g/t silver intercept at the Maronan project
- The result correlates with other very high-silver, footwall intercepts in nearby holes
- Drilling of the 7,000 to 10,000m program continues
Special Report: Maronan Metals has a little pep in its step after the first drill hole targeting the upper part of the Starter Zone returned the highest silver assay recorded to date on the Maronan project.
Maronan Metals’ (ASX:MMA) flagship Maronan project sits within Queensland’s Carpentaria province, placing it in the same vicinity as several Tier-1 lead-silver-zinc mines such as Mt Isa, George Fisher, and Century.
It’s also down the road from South 32’s (ASX:S32) giant Cannington mine which delivered FY2024 production of 12,666 koz silver.
But the project’s excellent address is not the only thing going for it, the asset stands tall on its own with an Inferred and Indicated silver-lead resource of 32.1Mt grading at 6.1% lead and 107g/t silver for 300Moz silver equivalent metal.
This includes a resource of 11.1Mt at 5.3% lead, 111g/t silver and 0.13g/t gold within the Shallow Starter Zone with 2.1Mt at 5.3% lead and 155g/t silver in the higher confidence Indicated category that comes to within 100m of the surface.
Thick 23.32m intersection in first hole at Starter Zone
MMA’s silver riches were further validated from a first infill hole targeting the upper part of the Starter Zone, which returned a thick 23.32m intersection at 5% lead and 175g/t silver (310 silver equivalent).
This included 12.57m at 5.5% lead and 277 g/t silver, 2.57m at 11.1% lead and 702 g/t silver as well as 0.71m at 22.1% lead and 1520 g/t silver.
The bonanza 1520 g/t silver intercept is the highest-grade silver assay recorded at the Maronan project to date and correlates with the other high silver footwall intercepts in nearby holes.
High tenor silver at shallow depths
MMA managing director Richard Carlton says the strong continuity of bedded silver-lead mineralisation between holes supports the 2024 resource model, adding to the level of confidence.
“Our 2024 drill program is off to a good start after the successful fundraising in June,” he says.
“It is very exciting to see high tenor silver mineralisation at shallow depths, but even more positive is the strong continuity of the mineralisation between holes supporting our 2024 resource model.”
Copper-gold mineralisation was also intersected, returning 11.5m at 0.8% copper and 0.86 g/t gold as well as 7.5m at 1% copper and 1.17 g/t gold.
Drilling continues
Drilling of the 7,000 to 10,000m Starter Zone program continues with a view to growing the Indicated resource base for Maronan’s namesake project.
Other upcoming activities include further metallurgical and geotechnical test work.
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.
