Maronan Metals Limited has released a detailed update on its mineral resource estimates for its large silver‐lead and copper‐gold deposit. The announcement highlights significant progress with infill drilling in the shallow Starter Zone, which has more than doubled the Indicated silver‐lead resource tonnage—from 2.1 million tonnes to 5.3 million tonnes—while achieving near-100% conversion from Inferred to Indicated with robust grade and metal continuity. The updated estimates indicate that, at a >3% lead cut-off grade, the combined Inferred and Indicated resource in the Starter Zone is now 12.2 million tonnes at about 5.0% lead with 112 g/t silver. Beyond this, the Global Silver‐Lead resource is estimated at 33.1 million tonnes averaging 6.0% lead and 108 g/t silver. The update also introduces a maiden Indicated resource for the copper‐gold mineralisation in the Starter Zone. At a cut-off of >0.4% copper, the newly defined Indicated portion is 1.6 million tonnes with grades of approximately 0.77% copper, 0.67 g/t gold, and 10 g/t silver. When combined with the broader inferred copper‐gold resource, the Global estimate comes to 32.0 million tonnes at 0.85% copper and 0.63 g/t gold, reinforcing the potential for future mining development. Additionally, the Gold‐Only resource remains in place at 1.8 million tonnes at 1.24 g/t gold. The company’s technical work has been strengthened through a comprehensive 3-year drilling program, which amassed over 27,000 metres of drilling and re-logged extensive historic core to ensure consistency. This rigorous QAQC process and enhanced geological modelling underpin the new resource figures and provide greater confidence in the continuity of mineralisation along the deposit’s stratiform and structurally controlled horizons. Maronan Metals is also progressing towards a detailed mine plan supported by ongoing geotechnical work, metallurgy test results, and the development of an Exploration Decline to facilitate underground drilling. From a sentiment perspective, the news brings a bullish outlook given the impressive scale-up in Indicated resources, strong grade continuity, and demonstrable progress toward mine planning. These factors suggest an increased potential for near-term project economics and a viable path towards production. Conversely, a bearish view might note that a large proportion of the overall resource remains classified as Inferred—underscoring the early stage of the project—and that further drilling and detailed feasibility studies are needed before mining can commence. This mix of advanced technical achievements and the inherent risks of early-stage resource projects will be key considerations for investors as the project moves forward.