- Phase one diamond drill program at Burbanks completed.
- Recent assays returned further high-grade intercepts.
- Additional exploration initiated in the southern project area.
- Underground mining at Burbanks historically produced high-grade gold.
Maritana Minerals (ASX:MRT) has obtained high-grade intercepts of up to 126.93 grams per tonne (g/t) from drilling at the historic Burbanks gold project near Coolgardie in the Western Australian Goldfields.
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Recent assays have returned further high-grade intercepts of 4.2 metres at 42.43 grams per tonne gold from 289.63 metres; including 1.37 metres at 126.93 g/t from 290.84 metres, 0.30 metres at 54.02 g/t from 207.41 metres and 0.63m at 24.32 g/t from 460.37m; including 0.30m at 40.95 g/t from 460.37m.
Phase one drilling was designed to improve the geological confidence at the Burbanks North open pit, which is included in the current life-of-mine plan, and at the Burbanks underground, which is not in the current LOM plan.
Martiana’s MD and CEO, Grant Haywood, said additional exploration was initiated in the southern project area targeting high-grade shallow gold mineralisation.
“Following strong results previously reported, the latest assays from Burbanks continues to demonstrate consistent high-grade mineralisation and improved geological confidence,” Mr Haywood said today.
“The ongoing success of the drilling program continues to de-risk the project, as we progress Burbanks towards becoming a reliable source of feed for Maritana’s 100% owned Black Swan processing hub.”
All assay results from the Burbanks North drilling have been received, enabling the completion of an updated mineral resource estimate in the June CY26 quarter. Ore reserve studies based on the improved confidence in resource classification from inferred to indicated in the updated MRE will then follow.
Underground mining at Burbanks historically produced 324,000 ounces of gold, 22.7 g/t, with historical production numbers in addition to an existing JORC (2012) resource of 6.1M tonnes grading 2.4 g/t Au for 466Koz.
MRT is up +0.67%, to 75.5¢. Mkt cap $277.03 million.
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