Maronan Metals Delivers Maiden Indicated Metal Resource; Early Development Potential

Maronan Metals Ltd (ASX: MMA) has delivered an updated resource that provides the company with early development options for the Shallow Starter Zone at the Maronan silver-lead and copper-gold deposit in northwest Queensland.

The maiden Indicated Resource of 2.1 million tonnes at 5.3% lead and 155g/t silver in the Shallow Starter Zone bodes well for potential mining scenarios.

The high silver grade near the surface is a bonus, as is a new gold-only Inferred Resource of 72,000 ounces at 1.24 g/t tonne gold.

The update provides a pathway for early-stage mining studies and the next phase of drilling.

The large silver-lead and copper-gold resources are open at depth.

More detail

The total Inferred plus Indicated Resource within the Shallow Starter Zone is estimated at: 11.1 million tonnes at 5.3% lead, 111 g/t silver, 0.13 g/t gold.

The Shallow Starter Zone resource falls within a defined area offering an opportunity for any potential early development.

The zone starts from the surface and extends to 600 metres in depth and continues along a strike length of 500 metres.

Closer-spaced drilling within this zone has enabled an updated Inferred Resource and maiden Indicated Resource to be estimated for the silver-lead sulphide mineralisation.

The estimate underlines the large size and significant grade of the deposit.

It also highlights the bulk potential of copper-gold mineralisation and a new gold-only opportunity.

High-grade silver

Maronan is already one of Australia’s largest and highest-grade undeveloped silver resources, located in the prolific North-West Minerals Province of Queensland.

Notably, the Maronan deposits’ total resource base is estimated to contain about 118 million ounces of silver, 2 million tonnes of lead, 272,000 tonnes of copper and 0.76 million ounces of gold.

Maronan’s base is Cloncurry, close to the Cannington, Ernest Henry, Dugald River, and Eloise mines, and is surrounded by well-established mining infrastructure.

 

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