Maronan Metals' Silver-Led Project Gains Momentum with Stronger Economics
Maronan Metals (MMA) presented its case at the Noosa Mining Conference 2026, highlighting progress on its Northwest Queensland silver-lead-copper-gold project. The company pointed to stronger economics, deeper drilling, and new institutional backing as evidence that the project is moving from discovery toward development.
Management said that a scoping study covering less than 25% of the global resource showed attractive economics, with a net present value (NPV) of around AUD $750 million at current silver prices. This is significantly higher than the company's market capitalization of about AUD $125 million.
The project has received significant investment from Kinterra Capital, which invested AUD $22 million and now holds 19.9% of Maronan Metals. The company also announced that a 40,000-meter infill drilling program is nearly 25% complete, with two rigs on site and a third possible in August.
Maronan Metals' project is located in Northwest Queensland, near Cloncurry, about 100 kilometers west of Mount Isa. The deposit is described as a large, long-life system with a 1 kilometer strike length and a vertical extent drilled to 1.2 kilometers below surface. The company said that the resource remains open at depth.
Management emphasized that the scoping study should be seen as a starting point rather than a ceiling, given that it covered only a small part of the resource. They also highlighted the potential for growth and expansion, noting that the exploration decline is fully permitted but not yet fully funded.