Name of the Project
Maronan underground project – starter zone.

Location
Cloncurry region of north-west Queensland, in Australia.

Project Owner/s
Australian mineral explorer Maronan Metals.

Project Description
The project entails the development of the starter zone of Maronan’s namesake silver/lead/copper/gold deposit.

The preliminary economic assessment (PEA) released in September 2025 proposes building an on-site standalone processing facility versus toll treatment. Both options deliver a ten-year life-of-mine (LoM) at 1.2-million-tonne-a-year mining and processing throughput. 

The standalone processing option is Maronan’s preferred development pathway to leverage the future growth its mining inventory.

Steady-state production equates to about 5.4-million-ounce-a-year silver-equivalent.

LoM metal in concentrate is estimated at 23-million ounces of silver, 280 000 t of lead, 5 800 t of copper and 34 000 oz of gold, unhedged and vendor royalty free.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The on-site standalone processing plant demonstrates a base case net present value (NPV), at an 8% discount rate, of about $377-million and an internal rate of return (IRR) of 37%, with a payback of four years.

The regional toll-treatment option delivers an NPV, at an 8% discount rate, of $362-million and IRR of 67%, with a payback of two years. 

Capital Expenditure
The on-site standalone processing plant has a preproduction capital expenditure (capex) of $266-million. The regional toll-treatment option has lower upfront capex of $98-million

Planned Start/End Date
Not stated.

Latest Developments
Maronan Metals secured a mineral development licence on March 3, marking an important step in moving the project closer to development.

The licence applies to the Maronan deposit and planned mine infrastructure within the company’s wholly owned Exploration Permit 13368. It was granted after the completion of the main statutory requirements, including mining and environmental approvals, as well as native title agreements.

The approval also permits the excavation of a boxcut and development of a decline, which will help speed up drilling of the starter zone resource and could support a future ore reserve estimate.

With the licence now in place, the company will continue to advance the project. The next steps include finalising an updated landholder compensation agreement, which is already well progressed, carrying out further infill surface drilling to expand the indicated resource, and continuing technical and regulatory work to support future mining lease and development decisions. 

Key Contracts, Suppliers and Consultants
GR Engineering Services (scoping study-level design, capital costing and operating costs for the processing plant with paste-fill capacity built on site).

Contact Details for Project Information
Maronan Metals, tel +61 2 9281 1805 or email info@maronanmetals.com.au.