Maronan Metals Limited has released a comprehensive update on its mineral resource estimates for the Maronan deposit in northwest Queensland. The revised schedule comes after an extensive drilling campaign which added over 27,000 metres of infill drilling and incorporated detailed re-logging of historic core. The updated model reflects enhanced geological understanding and robust grade continuity, with multiple resource blocks now upgraded from inferred to indicated status. In the shallow Starter Zone, the new estimates indicate that the silver–lead resource now comprises approximately 12.2 million tonnes averaging around 5.0% lead and 112 grams per tonne silver, including an indicated portion that has grown from 2.1 million tonnes to 5.3 million tonnes. The copper–gold component within the Starter Zone is similarly outlined at 7.0 million tonnes with grades of approximately 0.71% copper and 0.55 grams per tonne gold, with an indicated subset of 1.6 million tonnes. On a broader scale, the global silver–lead mineral resource is estimated at about 33.1 million tonnes at 6.0% lead and 108 grams per tonne silver, while the global copper–gold resource stands at roughly 32.0 million tonnes averaging 0.85% copper and 0.63 grams per tonne gold. The company’s technical team, led by a qualified exploration manager and supported by experienced geological consultants, emphasized near 100% conversion of resource classifications in key areas, highlighting the deposit’s strong predictability and potential for cost-effective mining. Additional successes include metallurgical testwork that has demonstrated the ores’ suitability for conventional processing methods, with recoveries reported at levels that should help underpin future economics. The announcement also outlines that work is underway to update mining studies and to develop detailed project economics. Maronan Metals Limited is progressing its exploration decline permitting process and expects to secure a Mineral Development License toward the end of 2025, a critical step toward advancing the project into the development phase. Bullish sentiment is supported by the significant increase in indicated resource tonnage, the robust geological continuity confirmed through extensive infill drilling, and the positive metallurgy results underpinning potential high-grade concentrate production. These factors contribute to renewed investor confidence in the project’s mineability and future economic viability, positioning the deposit as a promising asset in a productive mineral province. Conversely, bearish factors include the fact that a considerable portion of the resources remains classified as inferred, implying that further drilling and analysis are needed to reduce uncertainty. Investors should also be mindful of regulatory and permitting challenges inherent in advancing a greenfields mining project, as well as typical mining risks such as cost overruns and variability in metallurgical recoveries.