Maronan Metals Reveals High-Grade Copper-Gold Intercepts in Final Drill Results
Maronan Metals Limited (ASX: MMA) has released the final batch of assays from its 2024 drilling campaign at the Maronan Project, revealing multiple high-grade copper-gold zones that could provide early mining opportunities within the shallow Starter Zone. These results build on the company's emerging profile as a significant silver-lead and copper-gold development opportunity in Northwest Queensland.
Impressive High-Grade Copper-Gold Zones Highlight Mining Potential
The latest drill results showcase several standout copper-gold intercepts that strengthen the project's economic potential:
- MRN24015 delivered 15.35 metres at 0.78% copper and 0.53 g/t gold, including a high-grade section of 1.47 metres at 3.55% copper and 1.85 g/t gold
- MRN24017 returned multiple copper-gold zones, including 4.11 metres at 1.35% copper and 0.67 g/t gold, and 2.35 metres at 1.35% copper and 1.67 g/t gold
- MRN24018W1 revealed a spectacular narrow intercept of 0.6 metres at 3.69% copper and 12.2 g/t gold, alongside broader zones like 8.9 metres at 0.90% copper and 0.61 g/t gold
Notably, copper mineralisation is strengthening toward the northern end of the Starter Zone, suggesting further potential expansion of resources.
Silver-Lead Continuity Firmly Established
The Eastern Horizon's silver-lead mineralisation continues to demonstrate strong continuity, with several impressive results:
- MRN24015 returned 5.21 metres at 4.5% lead and 355 g/t silver (429 g/t Silver Equivalent), and 5.65 metres at 5.2% lead and 131 g/t silver (242 g/t Silver Equivalent)
- MRN24017 delivered 4.26 metres at 4.1% lead and 100 g/t silver (188 g/t Silver Equivalent)
- MRN24018 yielded 4.7 metres at 4.3% lead and 131 g/t silver (221 g/t Silver Equivalent)
- MRN24018W1 returned 4.2 metres at 4.0% lead and 112 g/t silver (196 g/t Silver Equivalent)
These results confirm the persistence of high-grade silver-lead mineralisation along the Eastern Horizon, with the shoot remaining open to the north.
Understanding Mineral Resources: What Makes a Silver Equivalent Calculation Important
When evaluating polymetallic deposits like Maronan, understanding how various metals contribute to the overall value is critical. The silver equivalent (AgEq) calculation provides a standardised way to express the combined value of silver and lead in terms of silver content.
Maronan's AgEq calculation incorporates both metallurgical recovery rates and metal prices. With exceptional recoveries of 95% for lead and 91% for silver demonstrated in recent testwork, the company uses a formula that accurately represents the recoverable value of the deposit. This allows investors to better understand the true economic potential across different mineralised zones that may contain varying ratios of silver and lead.
The high silver equivalent values (frequently exceeding 200 g/t AgEq) indicate the premium nature of Maronan's mineralisation compared to many global silver projects.
Project Development Accelerating
Maronan Metals is moving forward on multiple fronts to advance the project:
- An updated mineral resource estimate is currently underway, incorporating the extensive data from the successful 2024 drill campaign
- Environmental baseline work continues with surface water sampling, noise monitoring, and wet-season flora and fauna surveys
- Meetings with stakeholders regarding the Mineral Development License application are progressing
- Heritage surveys for 2025 drill pad clearance are scheduled for April
Managing Director Richard Carlton commented: "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. The team has been preparing for these results to come in and have commenced updating the mineral resources 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'."
Why Investors Should Follow Maronan Metals
Maronan Metals represents a compelling investment opportunity in the precious and base metals space for several key reasons:
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Robust resource base with 32.1 Mt @ 6.1% lead and 107 g/t silver (using >3% lead cut-off), including 2.1 Mt of Indicated Resource at 5.3% lead with 155 g/t silver
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Dual commodity exposure through both silver-lead and copper-gold mineralisation, providing natural hedging against metal price fluctuations
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Near-term development potential with the shallow Starter Zone showing excellent continuity and grades that could support early mining operations
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Strategic location in the prolific Cloncurry region of Northwest Queensland, just 90 km north of the giant Cannington Silver-Lead-Zinc Mine
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Consistently positive drilling results that continue to expand and upgrade the resource base
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Clear path to development with ongoing permitting, environmental studies, and resource updates
The Maronan Metals copper gold discovery is part of a larger mineralised system that also contains significant silver-lead resources, making it an attractive dual-commodity play. With consistently high-grade results, the Maronan Metals copper gold discovery continues to demonstrate the considerable size potential of the deposit.
As Maronan Metals advances toward being "mine ready," the company is positioning itself as one of Australia's premier emerging silver-lead and copper-gold developers. With the final results from the 2024 drilling program now in hand and resource updates underway, investors should keep a close watch on upcoming catalysts that could drive significant value creation.
The Maronan Metals copper gold discovery stands out for its high-grade nature, with intercepts such as 0.6 metres at 3.69% copper and 12.2 g/t gold demonstrating premium mineralisation quality. This adds significant value to the already substantial silver-lead resource, enhancing the overall economic potential of the Maronan Project.
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