Maronan Metals Limited announced assays from MRN22001 and additional sampling from historic drill hole MRN12004 continue to confirm the strong vertical continuity of the copper-gold mineralisation at Maronan and highlight the potential for wider intervals at depth. Copper and gold mineralisation transitioning from the weathered Chalcocite Zone to the primary Chalcopyrite Zone in MRN22001 returned intercepts of: 19.2 metres at 1.83% copper and 1.58 g/t gold from 746.8 metres including- 3.6 metres at 3.11% copper and 4.10 g/t gold from 746.8 metres, and 14.0 metres at 0.83% copper and 0.54 g/t gold from 799 metres. Of significance, the copper and gold mineralisation in MRN22001 occurs within a 122.6 metre intercept of lower-grade mineralisation averaging 0.55% copper and 0.44 g/t gold when applying a 0.1% copper cut-off grade.

Assaying of previously unsampled copper sulphide mineralisation visible in MRN12004 has also identified a wider interval of low-grade copper and gold mineralisation adjacent to the previously reported higher grade zone. Assays from the whole Copper Zone in MRN12004 returned: 91.8 metres at 0.88% copper and 0.77 g/t gold from 843.6 metres including the - 27.0 metres at 1.87% copper and 2.09 g/t gold from 746.8 metres. Assays from MRN22001 and MRN21001A and additional sampling of historic hole MRN12004 continue to confirm the strong vertical continuity of copper and gold zone which remains open up and down dip.

Results re-enforce the integrity of the current geological model and highlight the significant width potential of the Copper Zone at depth. The copper-gold mineralisation in MRN12004 transitions from weathered chalcocite-native copper minerals to fresh primary chalcopyrite mineralisation at a down hole depth of about 866 metres. Cross sectional and long sectional interpretations show strong vertical continuity of the copper-gold zone that extends over 600 metres and remains open up and down dip.

The broad zones of anomalous copper and gold in MRN22001A and MRN12004 highlights the significant width potential of the Copper Zone at depth where deeper drill tests are planned. Although not the principal target, MRN22001 also intersected extensions to the Eastern and Western lead-silver horizons which appear to correlate with lead-silver intervals in MRN22001A and nearby historic intervals. Assays from a weathered extension to the Western lead-silver horizon in MRN22001 returned: 11 metres at 6.6% lead and 4.7g/t silver from 681metres (weathered with leached silver values).

A fresh lead sulphide intercept from the Eastern lead-silver horizon included: 1.2 metres at 4.67% lead and 119g/t silver from 870 metres. Maronan Metals have completed 7 drill holes for approximately 4700 metres since drilling commenced in August this year with assay results from the lead-silver target holes MRN22002W1, MRN22002W2, MRN22003 and MRN22003W1 anticipated in the coming months. A deep drill test targeting the potential for wide zones of high-grade Cannington style mineralisation below historic hole MRN12004B is in progress.

Labelled MRN22005, this hole is currently at a depth of 510 metres and is on schedule for completion before the Christmas break. Drill hole MRN22004 targeted gold-only mineralisation at the northern fold structure but terminated north of the fold closure failing to intersect the host stratigraphic unit. Re-modelling of the geology using high-resolution magnetic and gravity data is underway with a follow-up hole planned in 2023.

Preparations for down hole electromagnetic surveying of historic drill hole MRN14004 and the current hole MRN22005 are well advanced.