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5 stories mentioning ASX:MMAUpdated 24d ago

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Asia

Maronan Metals Intersects High-Grade Silver-Lead Mineralization at Queensland Project, Shares Up 5%

Maronan Metals (ASX:MMA) intersected shallow high-grade silver-lead mineralization during infill drilling north of the Starter Zone of its Maronan project in Queensland, according to a Wednesday Australian bourse filing.The results were of up to 7.3 meters, or 6.2 meters estimated true width, at 11% lead and 89 grams per tonne silver from 345.7 meters, including 4.3 meters, or 3.7 meters estimated true width, at 15.8% lead and 118 g/t silver from 345.7 meters.A third drill rig is scheduled to arrive on site in August, with the fast-tracked 40,000-meter surface infill drilling program to feed into the pre-feasibility work program progressing well, and further regular news flow expected to the end of the year, the filing added.The company's shares rose 5% in recent Wednesday trade.

ASX:MMA
Asia

Red Metal Completes In-Specie Distribution of Maronan Metals Shares

Maronan Metals (ASX:MMA) said Red Metal (ASX:RDM) completed an in-specie distribution of about 73.1 million existing Maronan shares to eligible Red Metal shareholders, according to a Friday filing with the Australian bourse.Red Metal retains about 15.4 million shares of Maronan after the distribution, per the filing.

ASX:MMAASX:RDM
Asia

Maronan Metals Raises AU$22 Million Via Strategic Placement to Kinterra Capital

Maronan Metals (ASX:MMA) said it has entered into a binding agreement with Kinterra Critical Materials and Infrastructure Opportunities Fund II, managed by Kinterra Capital, to raise about AU$22 million via a strategic private placement at AU$0.351 apiece, according to a Wednesday Australian bourse filing.The company said the issue price represents the five-day volume-weighted average price of Maronan shares through May 15, with Kinterra Fund II to hold about 19.99% of Maronan's issued shares upon completion.Proceeds will fund Maronan's expanded drilling program to increase the indicated resource base beyond the Starter Zone and advance technical and regulatory workstreams required to complete a preliminary feasibility study and support development decisions for the broader Maronan project, the filing added.

ASX:MMA
Asia

Maronan Metals Encounters Shallow Silver, Copper-Gold Intercepts at Queensland Project; Shares Fall 5%

Maronan Metals (ASX:MMA) said ongoing infill drilling at the Maronan project in Queensland encountered shallow silver and copper-gold intercepts, according to a Friday Australian bourse filing.It hit intercepts of 4.22 meters at 5.2% grade of lead and 203 grams per tonne grade of silver from 410 meters, one meter at 10.95% grade of lead and 482 g/t grade of silver from 351 meters, as well as six meters at 2.51% grade of copper and 1.77 g/t grade of gold from 238 meters.Its shares fell 5% in recent trading on Friday.

ASX:MMA
Asia

Maronan Metals Restarts Surface Diamond Drilling at Queensland Silver Project, Shares Fall 3%

Maronan Metals (ASX:MMA) restarted surface diamond drilling at the Maronan silver project in Queensland, focused on growing the indicated resource and expanding key mine development studies at the Starter zone, according to a Monday Australian bourse filing.It secured a second diamond drill rig expected to be mobilized by the end of April.Its shares fell 3% in recent trading on Monday.

ASX:MMA

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