Maronan drills down on silver, lead and copper riches as starter zone shapes up for a fast track to mine-ready in Queensland’s metals heartland

A polymetallic deposit in the heart of Queensland’s North West Minerals Province is shaping up as a future supplier of high-grade lead-silver and copper-gold concentrates, with resource confidence, metallurgy, and mine planning advancing in lockstep.

Maronan Metals — the ASX-listed junior spun out of Red Metal — is driving the Maronan Project toward a development decision, underpinned by an updated resource estimate, strong flotation testwork, and a proposed underground exploration decline designed to test orebody continuity and bulk mining potential.

Speaking at the RIU Sydney Resources Round-up earlier this month, managing director Richard Carlton said: “We’re moving at pace. The resource is large, the grades are real, and we’re building the kind of optionality into our development pathway that gives us flexibility across both processing and scheduling.”

Multi-Metal System, Single Focus: Mine-Readiness

Located near Cloncurry and surrounded by major mining infrastructure, the Maronan Project hosts over 60 million tonnes of resource containing 118Moz silver, 2Mt lead, 272Kt copper and 758Koz gold. Carlton noted that “we’re right in the guts of a world-class mineral province — and we’re treating this as a near-term development play, not just an exploration story”.

The shallow “Starter Zone” — which sits less than 90 metres from surface — has been the primary target for recent infill drilling and metallurgical sampling. Resource modelling in this zone has already defined an Indicated Resource of 2.1Mt at 5.3 percent lead and 155g/t silver, with a further 9Mt Inferred at similar grades.

The zone accounts for roughly one-third of the total silver-lead resource, and is being used to anchor a scoping study and mining concept that leverages both its shallow depth and favourable ground conditions.

Metallurgy Points to Commercial-Grade Concentrates

Recent testwork has returned standout flotation results. Silver-lead samples produced a concentrate grading >74 percent lead and >2,900g/t silver, with metallurgical recoveries of up to 95 percent for lead and 91 percent for silver. “These are robust, clean products. That kind of grade easily clears saleability hurdles,” Carlton said.

Copper-gold material — drawn from both transitional and fresh sulphides — is also responding well. Carlton pointed to 85–90 percent copper recoveries and concentrate grades of 25–27 percent copper, describing the circuit as “simple, efficient, and scalable.”

Importantly, the host rock across both ore types is classified as “soft to medium” hardness, offering tangible cost advantages at the crushing and grinding stage. “From a processing cost standpoint, this is not a hard rock problem,” Carlton said.

Exploration Decline to Enable Bulk Sampling, Test Mining

With an application lodged for a Mineral Development Licence (MDL) in March, Maronan is planning a 5x5 metre exploration decline that would access the Starter Zone for underground drilling and bulk metallurgical sampling. This strategy aims to de-risk future development phases through early confirmation of mining method, geometry, and ore continuity.

One target zone includes a 23m intersection grading 5 percent lead and 175g/t silver, with discrete assays hitting as high as 22 percent lead and 1,520g/t silver. “We’re putting the decline exactly where the best material is — and that’s deliberate,” Carlton said.

Designs for the decline, stope access, and development infrastructure are being developed by external geotechnical specialists, while environmental monitoring (flora, fauna, groundwater, and surface water) is well advanced to support regulatory approvals.

Processing Flexibility: Tolling, Trucking, or Standalone

Maronan’s proximity to established polymetallic operations offers downstream flexibility. Toll treatment options exist at neighbouring plants such as Eloise (AIC Mines), Cannington (South32), and Ernest Henry (Evolution Mining), all within 130 kilometres.

“We’re not locked into a capex-heavy model from day one,” Carlton explained. “We can truck to a third-party plant, or build a standalone mill if the scale justifies it. The geometry also means we can mine multiple zones concurrently, which is a big win for efficiency.”

This flexibility also applies to sequencing: the silver-lead zone could be mined initially, while the copper-gold zone — which sits slightly deeper — enters the schedule in years three or four.

Logistics and Infrastructure: Road, Rail, and Power

The project is located just 4 kilometres from a sealed highway and within trucking distance of the Mt Isa rail line to Townsville. Power, water, and pastoral access are all manageable, and the site sits in a proven mining district with a supportive regulatory backdrop.

Carlton described the location as “pastoral land with mining DNA,” noting that “this is not frontier territory. This is Queensland’s engine room, and we’re operating with all the advantages that brings.”

2025 Pipeline: Resource, Scoping, and MDL Decision

The next six months are expected to be critical. A resource update is due in Q4 FY2025, followed by the release of a scoping study. A decision on the MDL is also expected by year-end, with underground access planned shortly after if granted.

Carlton summed up the company’s intent succinctly: “We’ve engaged quality people, we’ve done the technical work, and now we’re aligning it all around a development decision.”

The Rock Wrangler Takeaway:
Maronan is no longer just a polymetallic deposit — it’s a development-stage project being shaped with production realism in mind. From its grade profile and metallurgy to its infrastructure advantage and modular processing options, the project exemplifies a modern approach to mine-readiness: flexible, field-informed, and focused.