Just watched the latest presentation by AIC mines who own the Eloise mine (18km from Maronan) and Jericho deposit 13km from Maronan which they acquired via a takeover in 2023. They have tied up the whole area (2000km2) surrounding Maronan and their plan is to consolidate assets in the area as you can see in the diagram below. They are predominately copper/gold but the Maronan project being valued at $37M with its 11MT of copper/gold has to look very attractive.
AIC is run by ex Evolution Mining personnel who have worked in a company that got large through acquisition. Their plans are to do the same in the Cloncurry belt. One thing to note with the AIC mines presentation is the fact that they have discovered very high grade copper/gold down deep around 1400mtr-1500mtr of 4% copper and 2g/t gold. Maronan also believe that the high grade lead/silver/copper/gold lies at these depths.
The bottom two diagrams show the similarities between Eloise and Maronan.
Ann: NSW / QLD Precious and Base Metals Mining Conference 2024, page-10
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