Red Metal Limited
Maronan Metals Spin-Out
Maronan Metals Spin-Out: Silver-Lead & Copper-Gold
The Maronan lead-silver and copper-gold project is a large emerging base metal deposit that Scoping Studies suggest is worthy of full Feasibility Study evaluation.
Maronan has JORC 2012 compliant Inferred Resources of 30.8Mt @ 6.5% lead with 106g/t silver (using a 3% lead cut-off grade) plus 11Mt @ 1.6% copper with 0.8g/t gold (using a 1.0% copper cut-off grade). With over 100 million ounces of contained silver, Maronan is one of the largest undeveloped silver resources in Australia.
Red Metal recently listed the Maronan asset on the ASX as Maronan Metals Limited (ASX: MMA). The initial public offer under the Maronan Metals Limited prospectus closed fully subscribed and successfully raised the maximum of $15 million. Maronan Metals was admitted to the Official List of the ASX and quotation of MMA shares commenced on Friday 29 April 2022.
Red Metal Limited hold 50% of the issued shares of MMA (escrowed for two years).
Refer to Maronan Metals website and ASX announcements for more detail about this exciting new company.