Maritana Minerals Extends High-Grade Burbanks Footprint Below Main Lode

Maritana Minerals (ASX: MRT) has extended high-grade mineralisation beneath the Main Lode at its 100%-owned Burbanks gold project in Western Australia, strengthening the case for Burbanks Underground as a potential future source of ore for its nearby processing hub.

Assays from the first 11 holes of the 20-hole Phase 2 program included 0.48 metres at 25.19 grams per tonne gold from 224.63m and 0.76m at 9.02g/t from 231.42m, including 0.38m at 16.41g/t, alongside broader lower-grade mineralised intervals.

Burbanks Underground is not included in the current Black Swan Processing Hub (BSPH) life of mine (LOM) plan, with Maritana assessing whether the deeper mineralisation can ultimately enhance and extend that schedule.

Final Phase 2 assays are expected during the September quarter, while a mineral resource estimate (MRE) update incorporating Phase 1 drilling is also due this quarter before Phase 2 results are incorporated into a further December-quarter update.

Drilling Extends Main Lode

Maritana completed 20 Phase 2 holes for about 6,400m, combining infill drilling of the existing resource with tests of mineralisation extensions beneath the Main Lode after Phase 1 delivered 53 holes for 15,798m.

Most of the latest program was collared from neighbouring tenements held by Auric Mining (ASX: AWJ) under an access agreement, allowing Maritana to improve drill intercept angles where its own tenement boundaries and surface infrastructure restricted suitable collar positions.

The new results are improving Maritana’s understanding of the mineralised host rocks, continuity and structural controls while providing data intended to support conversion of part of the Inferred Resource to the higher-confidence Indicated category for future Ore Reserve work.

“Phase 2 drilling has successfully extended the high-grade mineralised footprint at depth below the Main Lode, with consistent intercepts confirming continuity of the Burbanks shear,” managing director and chief executive officer Grant Haywood said.

“The ongoing success of the drilling program continues to de-risk the project and enhance development potential.”

Resource Update Next

Burbanks currently hosts an MRE of 6.1 million tonnes grading 2.4g/t gold for about 466,000 ounces, including an underground component of 1.19Mt at 4.38g/t for 167,900oz.

All assays from Burbanks North have now been received, allowing Maritana to complete the updated MRE before progressing Ore Reserve studies based on the greater confidence expected from moving resources from Inferred to Indicated classification.

The Phase 1 MRE update is scheduled for completion in the September quarter, with the Phase 2 drilling results then planned for inclusion in a December-quarter MRE update as the underground opportunity is further defined.

Maritana also plans to drill the Burbanks South mineralisation next quarter, continuing the two-phase extensional and infill campaign that began in June 2025 and has been revised to about 25,000m in response to results and BSPH LOM scheduling.