Maronan Metals Hits 15.8% Lead and 118g/t Silver 250m North of Starter Zone
Maronan Metals intersects high-grade silver-lead mineralisation 250 metres north of starter zone
Maronan Metals has intersected shallow, high-grade silver-lead sulphide mineralisation 250 metres north of the Starter Zone through its fast-tracked 40,000 metre surface infill drilling programme. The intercepts, located within 120 metres of the company’s fully permitted exploration decline, extend known mineralisation into a previously under-drilled area and potentially reduce development complexity by placing new resources close to existing permitted infrastructure.
The company has completed more than 7,000 metres of drilling with two rigs currently operating. A third drill rig is scheduled to arrive on site in August 2026, with regular assay results anticipated through to year-end as the programme feeds directly into prefeasibility work.
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Eastern Horizon delivers standout intercepts
Drilling on the Eastern Horizon intersected thick, banded carbonate facies sulphide mineralisation at target depth in MRN26002 and MRN26003, confirming continuity of the mineralised system north of the Starter Zone. The standout results included 7.3 metres at 11.0% lead and 89g/t silver from 345.7 metres in MRN26002, with a higher-grade core of 4.3 metres at 15.8% lead and 118g/t silver.
| Hole | Interval | Estimated True Width | Lead Grade | Silver Grade |
|---|---|---|---|---|
| MRN26002 | 7.3m from 345.7m | 6.2m | 11.0% Pb | 89g/t Ag |
| MRN26002 (incl.) | 4.3m from 345.7m | 3.7m | 15.8% Pb | 118g/t Ag |
| MRN26003 | 14.2m from 251m | 12.1m | 3.5% Pb | 40g/t Ag |
| MRN26003 (incl.) | 3.25m from 254.75m | 2.8m | 5.7% Pb | 46g/t Ag |
MRN26003, drilled 90 metres up-dip of MRN26002, returned a broad intercept of 14.2 metres at 3.5% lead and 40g/t silver from 251 metres, including a 3.25 metre section grading 5.7% lead and 46g/t silver. The thick intervals of banded carbonate facies mineralisation demonstrate the robustness of the Eastern Horizon system north of the existing resource footprint.
Western Horizon surprises with lead-rich mineralisation north of Northern Dyke
Lead-rich sulphide mineralisation on the Western Horizon was not anticipated north of the Northern Dyke, a geological structure that had been considered a potential barrier to mineralisation continuity. This unexpected result opens a new target for follow-up drilling and extends the prospective footprint of the deposit beyond the current resource boundary.
Key Western Horizon intercepts include:
- MRN26002: 4.05m at 10.2% Pb, 123g/t Ag from 273.7m (estimated true width 3.4m)
- MRN26002: 5.5m at 6.6% Pb, 97g/t Ag from 299m, including 2.6m at 13.0% Pb, 141g/t Ag
- MRN26003: 0.5m at 7.2% Pb, 76g/t Ag from 144.5m
- MRN26003: 1.25m at 5.6% Pb, 61g/t Ag from 183.3m
The discovery of Western Horizon mineralisation in an area where it was not geologically expected suggests the mineralised system may be more extensive than previously modelled. This zone will be prioritised for additional drilling to test strike extent and down-plunge continuity.
What is infill drilling and why does it matter for a prefeasibility study?
Infill drilling involves drilling between existing drill holes to increase the density of geological data and improve confidence in the size, grade, and continuity of a mineralised zone. The technique allows companies to convert inferred mineral resources (lower confidence) into indicated resources (higher confidence), which is a critical step in advancing a project toward development.
For a prefeasibility study, resource confidence directly impacts the robustness of economic modelling, mine planning, and financial projections. Indicated resources provide a stronger foundation for capital raising, engineering design, and project valuations than inferred resources. Maronan’s 40,000 metre infill programme is specifically designed to upgrade resource confidence across the deposit, feeding into the prefeasibility work currently underway.
Higher-confidence resources also improve a company’s ability to secure project financing and de-risk the path toward a final investment decision. The drilling programme’s focus on the Starter Zone and surrounding areas aims to define a robust, bankable resource base for the project’s initial development phase.
Managing Director on the drilling momentum
Richard Carlton, Managing Director
“We are thrilled to have intersected shallow high-grade silver-lead mineralisation north of the Starter Zone, the focus of last September’s Preliminary Economic Assessment (Scoping Study) (ASX: MMA, 23 September 2025). The intercepts in MRN26002 and MRN26003 are located within just 120m of our permitted exploration decline and will be followed up with further infill drilling as the program progresses. With two drill rigs spinning, more than 7,000m of drilling already completed, and a third drill rig scheduled to commence in August, shareholders can anticipate regular news flows in the months ahead.”
The proximity of the new intercepts to existing permitted infrastructure is expected to support drilling follow-up. The new intercepts are located within 120m of the permitted exploration decline and will be followed up with further infill drilling as the programme progresses.
Drilling programme status and next steps
The 2026 drilling programme has progressed systematically across the Maronan project, with the following status update:
- 22 drill holes completed to date across exploration and geotechnical targets
- Assays reported for MRN26001, MRN26002, MRN26003, MRN26005, and MRN26006
- Multiple holes awaiting assays or in the logging phase, with results anticipated progressively through the remainder of the year
- MRN26006 failed to reach the Eastern Horizon target due to bogged rods and will be re-drilled to test the down-dip extension of mineralisation
Oxide mineralisation intercepted in MRN26005 and MRN26006 on the Western Horizon is not currently considered recoverable and is excluded from the existing mineral resource estimate. The company has prioritised fresh sulphide mineralisation for resource delineation and mine planning purposes.
The third drill rig, arriving in August 2026, will increase drilling capacity and maintain the pace of assay results through the final quarter of the year. The systematic execution of the programme across multiple rigs de-risks the path toward an updated resource estimate and completion of the prefeasibility study.
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Investment outlook for Maronan Metals
Maronan Metals has delivered a series of high-grade, shallow intercepts close to permitted infrastructure, positioning the project for potential near-term development. The unexpected Western Horizon mineralisation north of the Northern Dyke opens additional exploration upside beyond the current resource footprint, while disciplined infill drilling execution supports progression toward prefeasibility completion.
The September 2025 Preliminary Economic Assessment established the Starter Zone as a viable development target. The current drilling programme aims to upgrade resource confidence across this zone and test extensions into under-drilled areas. Mineralisation remains open down-plunge on both the Eastern and Western Horizons, with additional drilling required to define the full extent of the system.
Near-term catalysts for the company include continued assay results through 2026, deployment of the third drill rig in August, and progression toward prefeasibility study completion. The systematic conversion of inferred resources to indicated resources through infill drilling is expected to support project valuations and de-risk the path toward a development decision.
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