Past year: ▲ 24%(29.5c – 60.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
15 July 2026drilling result▲ GoodMajor
Infill holes about 250m north of the Starter Zone hit shallow silver-lead, including 7.3m at 11.0% lead, 89 g/t silver from 345.7m, within 120m of the planned decline. A third rig is due in August for a 40,000m program.
15 May 2026drilling result▲ GoodMajor
First 2026-program assays from four Starter Zone infill holes: 21.5m at 0.63% copper, 0.68 g/t gold from 125m, and 6.0m at 2.51% copper, 1.77 g/t gold from 238m, plus silver-lead intercepts. Resolves the pending infill assays; resource update expected second half 2026.
5 May 2026drilling progress report▲ Good
Second rig is now operating and the 2026 program is on its sixth hole, aimed at growing the Indicated Resource beyond the PEA's 13Mt near-surface inventory. No assay results yet. A pre-feasibility study and a resource update are planned.
13 Apr 2026drilling scheduled▲ Good
Surface drilling restarts after the wet season in an expanded 2026 program, with a second rig due to mobilise by end of April. Assays from the 2025 infill holes are still pending. Tenders for the exploration decline are under review.
22 Dec 2025drilling progress report▲ Good
First phase of surface drilling is complete: four infill holes in the Starter Zone (assays due February 2026) and six geotechnical holes for the boxcut and decline. The company is confident the Mineral Development Licence will be granted early in 2026.
23 Oct 2025drilling progress report▲ Good
Surface diamond drilling recommenced at Maronan in early October, starting the definitive feasibility study work. The FY26 program aims to grow the Indicated resource, complete geotechnical and groundwater holes for the decline, and test shallow extensions north of the Starter Zone. No results yet.
3 June 2025resource reserve update▲ GoodMajor
Updated resource: Starter Zone Indicated silver-lead grew 2.5 times to 5.3Mt at 5.2% lead, 116 g/t silver, from 2.1Mt. Starter Zone total is 12.2Mt at 5.0% lead; maiden Indicated copper-gold is 1.6Mt at 0.77% copper. Delivers the guided update; scoping study update is underway.
9 Apr 2025drilling result▲ GoodMajor
Final batch of 2024 assays: Eastern Horizon silver-lead narrows and gets patchier at the northern end, e.g. MRN24017 4.26m at 4.1% lead, 100 g/t silver. Copper-gold is stronger there, e.g. MRN24015 15.35m at 0.78% copper. An updated resource estimate is now under way.
6 Mar 2025drilling result▲ GoodMajor
More assays from the 2024 program: MRN24010 hit 31m at 5.1% lead, 70 g/t silver in the Western Horizon, and MRN24014 hit 20.9m at 4.7% lead, 120 g/t silver. Four holes remain, and a resource update is under way.
7 Nov 2024drilling result▲ GoodMajor
MRN24005 hit 18.41m at 5.3% lead, 146g/t silver and MRN24006 hit 11.94m at 7.8% lead, 158g/t silver, completing the close-spaced test of grade variability. Drilling has passed 7,000m, with a resource review planned for early 2025.
25 Sept 2024drilling result▲ GoodMajor
Infill holes MRN24003, its twin MRN24003W1 and MRN24004 hit wide silver-lead: 17.1m at 3.6% lead, 103g/t silver; twin 15.37m at 3.7% lead, 105g/t; MRN24004 15.85m at 4.1% lead, 111g/t. The near-identical twin supports grade continuity in the March resource model.
7 Aug 2024drilling result▲ GoodMajor
First 2024 infill hole MRN24002 hit 23.32m at 5.0% lead, 175g/t silver, including 0.71m at 22.1% lead, 1520g/t silver, the highest silver assay at Maronan. Continuity between holes supports the March 2024 resource model.
6 June 2024drilling scheduled▲ GoodMajor
Drilling restarts at Maronan with a Board-approved 7,000-10,000m diamond program, funded by the May raising. It aims to grow the Indicated silver-lead resource in the Starter Zone, infill the Western Horizon and test southern extensions, supporting mining studies later in the year.
12 Mar 2024resource reserve update▲ GoodMajor
Updated resource gives a maiden Indicated Resource of 2.1Mt at 5.3% lead, 155g/t silver within the Shallow Starter Zone, within 100m of surface. Starter Zone total is 11.1Mt at 5.3% lead. Copper-gold Inferred grows to 32.5Mt at 0.84% copper; new gold-only 1.8Mt at 1.24g/t. Replaces the 2015 estimates.
20 Dec 2023drilling result▲ GoodMajor
MRN23022, the final hole of the 2023 program, hit 8.4m at 17.1% lead, 112g/t silver on the Western Horizon, a 100m step-out from historic hole MRN07001. Western Horizon is flagged as a priority for future drilling; resource update due H1 2024.
12 Dec 2023drilling result▲ Good
Further Eastern Horizon assays include 18.5m at 5.0% lead, 106g/t silver in MRN23020, tracing continuous mineralisation at least 350m down plunge, still open. Shallow oxide copper-gold hits too (18.8m at 0.74% copper). Only MRN23022 assays remain pending.
8 Nov 2023drilling result▲ Good
Assays from Eastern Horizon holes MRN23014A, 15, 16 and 17 add more wide, shallow silver-lead hits, led by 22.8m at 5.8% lead, 138g/t silver in MRN23016, only 100m below surface. Supports the Starter Zone; assays for five holes remain due before Christmas.
20 Sept 2023drilling result▲ Good
Eastern Horizon holes MRN23010-13 returned strong silver-lead, led by MRN23013 with 21.15m at 5.0% lead, 195g/t silver, and the project's highest single silver assay of 872g/t. 15,145m drilled to end-August; resource update now targeted for H1 CY24.
9 Aug 2023drilling result▲ Good
MRN23008 assays confirm the visual galena: 5.8m at 8.4% lead, 231g/t silver and 11.8m at 5.9% lead in the Western Horizon. MRN23009 hit 4.8m at 4.3% lead, 139g/t silver in the Eastern Horizon. Resource and mine study update is planned later in 2023.
31 July 2023drilling result▲ Good
MRN23007 assays confirm the earlier visual galena: 13m at 4.3% lead, 174g/t silver (about 300m below surface), plus 9m at 1.78% copper, 2.41g/t gold in the oxide zone. Supports Starter Zone continuity; MRN23008 assays still due.
20 July 2023drilling result▲ Good
Copper-Gold Zone assays include MRN14004W1 81.8m at 0.41% copper, 0.57g/t gold, with 8m at 1.55% copper, 4.4g/t gold. MRN23004W2 hit 58m at 0.73% copper. Resolves the May wedge-hole visual result; higher-grade lenses show continuity, and an updated geological model is in preparation.
14 June 2023drilling progress report▲ Good
MRN23008 intersected a 19m interval of visible galena in the Western Horizon, about 280m below surface, plus 4m on the Eastern Horizon. These are visual estimates only; assays due July 2023. Step-up hole MRN23009 has started.
1 June 2023drilling progress report▲ Good
MRN23007 intersected a 20m interval of visible galena along the Shallow Silver Zone, about 150m below MRN23005, plus visible copper sulphides. These are visual estimates only; assays are expected in July 2023.
29 May 2023drilling result▲ GoodMajor
MRN23005 assays returned 31m at 6.1% lead, 139g/t silver (24.8m true width) only 155m below surface, including 2m at 24.7% lead. This confirms the earlier visual result and strengthens the Shallow Silver Zone as a potential early development target.
24 May 2023drilling progress report▲ Good
Conductor test hole MRN14004W1 intersected a 221m down-hole interval of visible copper and iron sulphides, estimated at 60-70m true width, with pyrrhotite dominant over chalcopyrite. These are visual estimates only; assays are expected in July.
20 Apr 2023drilling progress report▲ Good
Visual logging shows a 32m interval of galena in MRN23005, within about 150m of surface, plus 4m in MRN23006; these are visual estimates, not grades, with assays pending. The rig has moved to test the copper-gold conductor via wedge hole MRN14004W1 (planned 1,320m).
18 Apr 2023drilling result▲ GoodMajor
MRN23001 hit 8.7m at 4.5% lead, 237g/t silver, including 4.0m at 4.4% lead, 426g/t silver, about 250m below surface. Target 1 is renamed the Starter Zone; the company calls its Shallow Silver Zone a prime candidate for early development in any future mining scenario.
4 Apr 2023drilling result▲ GoodMajor
Modelling of electromagnetic surveying from deep hole MRN22005 found a very strong conductor about 200m north, interpreted as possible thicker copper-gold; a follow-up hole is planned. MRN22005 lead-silver assays include 6.45m at 7.2% lead, 35g/t silver, confirming the horizons continue at depth.
24 Jan 2023drilling result▲ Good
Deep hole MRN22005 finished at 1,543.8m, showing visible lead sulphides where the Western and Eastern horizons were predicted. These are visual observations, not grades. Assays are expected in about six weeks, and the hole will be used for down-hole electromagnetic surveying.
16 Jan 2023drilling result▲ GoodMajor
Shallower "Target 1" holes hit very high-grade lead-silver, including 0.75m at 36.6% lead and 4.0m at 11.9% lead. Management cites nearly 5,200m drilled in five months. Deep hole MRN22005 was at 1,310m.
