# MMA: Sydney Mining Club Presentation Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03147213 Publisher: asx Original announcement: 2026-10-01T01:53:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-01T02:24:00.620Z Atlas analysis updated: 2026-10-01T02:24:00.620Z - Company: Maronan Metals Limited - Ticker: MMA - Exchange: ASX - Region: Queensland - Primary commodity: Silver - Secondary commodities: Lead, Copper, Gold, Zinc - Document categories: Resource update, Capital raise, Permitting, Metallurgy - Extracted: 2026-10-01 02:24:01 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Maronan Metals Limited presented an investor update for its Maronan Silver Project in Queensland, highlighting a significant mineral endowment of 33.1 Mt Silver-Lead Resource \(115 Moz Ag, 2 Mt Pb\) and 32.0 Mt Copper-Gold Resource \(271 kt Cu, 649 koz Au\). The company reported compelling Preliminary Economic Assessment \(PEA\) results, with an NPV8% of A$908 million at spot prices, based on a small portion of the total resource. Recent achievements include a A$22 million strategic placement by Kinterra Capital, the granting of a Mineral Development Licence, and positive metallurgical testwork results for both silver-lead and copper-gold. Reasoning: The presentation provides a highly positive overview of the Maronan Project, emphasizing its substantial resource base, strong economic potential, strategic investment, and significant progress in permitting and technical studies. While some data is re-presented, the overall update on project de-risking and advancement is very strong. - Positive factor: Significant mineral endowment across silver-lead and copper-gold resources - Positive factor: Compelling PEA economics, especially at spot prices, demonstrating project viability - Positive factor: Strategic A$22M placement by Kinterra Capital, providing strong institutional validation and funding for PFS - Positive factor: Mineral Development Licence granted, de-risking the project's pathway to production - Positive factor: Positive metallurgical testwork results for both silver-lead and copper-gold, indicating high recoveries and good concentrate quality - Positive factor: Ongoing 40,000m drill program aimed at upgrading resources and supporting a Prefeasibility Study - Negative factor: Resource estimates and some metallurgical results are re-presented from earlier releases, limiting novelty of the data itself - Negative factor: PEA is based on a small portion of the total resource, and the PFS is still underway, meaning full project economics are not yet finalized Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 30 ## Classification and evidence **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a flotation route \("flotation"\) ## Extracted facts Stored fact records: 30. Some facts used in scoring do not have a stored record. ## Resource Estimates (26) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-0) Maronan Project · lead #### Identity - Project: Maronan Project - Commodity: lead - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:6b3692d9a7aaa55f1e2d - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 5300000 - Grade: 5.2 - Grade Unit: % - Contained Metal: 275000 - Contained Unit: t - Cutoff Grade: 3 - Cutoff Unit: % Lead #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: This indicated lead resource represents a substantial and well-defined portion of the project, contributing positively to overall project confidence. - Positive factor: Significant tonnage and grade for an indicated resource - Positive factor: Indicated category provides good geological confidence - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 5.2 Context: 5.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-1) Maronan Project · silver #### Identity - Project: Maronan Project - Commodity: silver - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:6b3692d9a7aaa55f1e2d - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 5300000 - Grade: 116 - Grade Unit: g/t - Contained Metal: 19.6 - Contained Unit: moz - Cutoff Grade: 3 - Cutoff Unit: % Lead #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: This indicated silver resource is a key component of the project's value, with a high grade and substantial contained ounces, supporting the project's economic potential. - Positive factor: High silver grade and significant contained metal for an indicated resource - Positive factor: Indicated category provides good geological confidence - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 116 Context: 5.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-2) Maronan Project · lead #### Identity - Project: Maronan Project - Commodity: lead - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:22fa383521685cbed205 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 6900000 - Grade: 4.8 - Grade Unit: % - Contained Metal: 335000 - Contained Unit: t - Cutoff Grade: 3 - Cutoff Unit: % Lead #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: This inferred lead resource expands the project's scale, but its lower confidence category means further drilling is required to upgrade it. - Positive factor: Adds significant tonnage and contained metal to the overall resource - Negative factor: Inferred category has lower geological confidence - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 4.8 Context: 6.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-3) Maronan Project · silver #### Identity - Project: Maronan Project - Commodity: silver - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:22fa383521685cbed205 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 6900000 - Grade: 109 - Grade Unit: g/t - Contained Metal: 24.2 - Contained Unit: moz - Cutoff Grade: 3 - Cutoff Unit: % Lead #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: This inferred silver resource significantly contributes to the project's overall silver endowment, but its lower confidence requires further work for de-risking. - Positive factor: High silver grade and significant contained metal in the inferred category - Positive factor: Adds substantial ounces to the overall resource - Negative factor: Inferred category has lower geological confidence - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 109 Context: 6.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-4) Maronan Project · lead #### Identity - Project: Maronan Project - Commodity: lead - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:07cc765f2bd078e5e94a - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 21000000 - Grade: 6.5 - Grade Unit: % - Contained Metal: 1370000 - Contained Unit: t - Cutoff Grade: 3 - Cutoff Unit: % Lead #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: This large inferred lead resource outside the Starter Zone highlights significant exploration upside and potential for future resource growth, though it requires further definition. - Positive factor: Very large tonnage and contained metal, indicating significant potential outside the Starter Zone - Negative factor: Inferred category has lower geological confidence - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 6.5 Context: 21.0 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-5) Maronan Project · silver #### Identity - Project: Maronan Project - Commodity: silver - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:07cc765f2bd078e5e94a - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 21000000 - Grade: 106 - Grade Unit: g/t - Contained Metal: 70.9 - Contained Unit: moz - Cutoff Grade: 3 - Cutoff Unit: % Lead #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: This large inferred silver resource outside the Starter Zone represents substantial future potential, but its inferred status means it requires further drilling to improve confidence. - Positive factor: Very large tonnage and contained silver, indicating significant potential outside the Starter Zone - Negative factor: Inferred category has lower geological confidence - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 106 Context: 21.0 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-6) Maronan Project · lead #### Identity - Project: Maronan Project - Commodity: lead - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:9467284c520a95405c75 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 33100000 - Grade: 6 - Grade Unit: % - Contained Metal: 1970000 - Contained Unit: t - Cutoff Grade: 3 - Cutoff Unit: % Lead #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: The global silver-lead resource demonstrates substantial scale, with a large contained lead component, providing a strong foundation for future development. - Positive factor: Very large total contained lead, indicating a significant project scale - Negative factor: A significant portion is in the inferred category, requiring further de-risking - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 6.0 Context: 33.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-7) Maronan Project · silver #### Identity - Project: Maronan Project - Commodity: silver - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:9467284c520a95405c75 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 33100000 - Grade: 108 - Grade Unit: g/t - Contained Metal: 114.5 - Contained Unit: moz - Cutoff Grade: 3 - Cutoff Unit: % Lead #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: The global silver-lead resource highlights the project's world-class silver endowment, with a very large contained silver component, underpinning its economic potential. - Positive factor: Very large total contained silver, indicating a significant project scale and high value potential - Negative factor: A significant portion is in the inferred category, requiring further de-risking - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 108 Context: 33.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-8) Maronan Project · lead #### Identity - Project: Maronan Project - Commodity: lead - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:d2f5e8276611db56d13a - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 12200000 - Grade: 5 - Grade Unit: % - Contained Metal: 610000 - Contained Unit: t - Cutoff Grade: 3 - Cutoff Unit: % Lead #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: The Starter Zone lead resource provides a solid foundation for initial economic studies, but its combined category suggests a need for further confidence building. - Positive factor: Significant contained lead in the Starter Zone, forming the basis for the PEA - Negative factor: Combined Indicated + Inferred category is treated as inferred, indicating lower confidence for a portion - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 5.0 Context: 12.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-9) Maronan Project · silver #### Identity - Project: Maronan Project - Commodity: silver - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:d2f5e8276611db56d13a - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 12200000 - Grade: 112 - Grade Unit: g/t - Contained Metal: 43.8 - Contained Unit: moz - Cutoff Grade: 3 - Cutoff Unit: % Lead #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: The Starter Zone silver resource is a high-grade component of the project, providing strong support for the initial economic assessment. - Positive factor: High silver grade and significant contained metal in the Starter Zone, underpinning the PEA - Negative factor: Combined Indicated + Inferred category is treated as inferred, indicating lower confidence for a portion - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 112 Context: 12.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-10) Maronan Project · gold #### Identity - Project: Maronan Project - Commodity: gold - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:d2f5e8276611db56d13a - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 12200000 - Grade: 0.1 - Grade Unit: g/t - Contained Metal: 39000 - Contained Unit: oz - Cutoff Grade: 3 - Cutoff Unit: % Lead #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: The gold component in the Starter Zone is a minor byproduct, contributing to the polymetallic nature but not a primary driver of value. - Positive factor: Adds a gold credit to the polymetallic Starter Zone resource - Negative factor: Low gold grade, indicating it's a minor byproduct - Negative factor: Combined Indicated + Inferred category is treated as inferred, indicating lower confidence for a portion - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 0.1 Context: 12.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-11) Maronan Project · zinc #### Identity - Project: Maronan Project - Commodity: zinc - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:d2f5e8276611db56d13a - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 12200000 - Grade: 0.14 - Grade Unit: % - Contained Metal: 17.7 - Contained Unit: kt - Cutoff Grade: 3 - Cutoff Unit: % Lead #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: The zinc component in the Starter Zone is a minor byproduct, adding to the polymetallic nature but not a primary value driver. - Positive factor: Adds a zinc credit to the polymetallic Starter Zone resource - Negative factor: Low zinc grade, indicating it's a minor byproduct - Negative factor: Combined Indicated + Inferred category is treated as inferred, indicating lower confidence for a portion - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 0.14 Context: 12.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-12) Maronan Project · copper #### Identity - Project: Maronan Project - Commodity: copper - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:772751a3413bf398515c - Material type: Leached - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1100000 - Grade: 0.79 - Grade Unit: % - Contained Metal: 9000 - Contained Unit: t - Cutoff Grade: 0.4 - Cutoff Unit: % Copper #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: This leached copper resource provides a valuable component to the overall copper-gold resource, with a reasonable grade for its material type. - Positive factor: Good copper grade for a leached material type - Negative factor: Inferred category has lower geological confidence - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 0.79 Context: 1.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-13) Maronan Project · gold #### Identity - Project: Maronan Project - Commodity: gold - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:772751a3413bf398515c - Material type: Leached - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1100000 - Grade: 0.71 - Grade Unit: g/t - Contained Metal: 26000 - Contained Unit: oz - Cutoff Grade: 0.4 - Cutoff Unit: % Copper #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: The gold component in the leached material adds a valuable credit to the copper resource, enhancing its overall economic potential. - Positive factor: Good gold grade for a leached material type, adding value to the copper resource - Negative factor: Inferred category has lower geological confidence - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 0.71 Context: 1.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-14) Maronan Project · silver #### Identity - Project: Maronan Project - Commodity: silver - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:772751a3413bf398515c - Material type: Leached - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1100000 - Grade: 9 - Grade Unit: g/t - Contained Metal: 0.3 - Contained Unit: moz - Cutoff Grade: 0.4 - Cutoff Unit: % Copper #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: The silver component in the leached material is a minor byproduct, contributing to the polymetallic nature but not a primary driver of value. - Positive factor: Adds a silver credit to the leached copper-gold resource - Negative factor: Low silver grade, indicating it's a minor byproduct - Negative factor: Inferred category has lower geological confidence - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 9 Context: 1.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-15) Maronan Project · copper #### Identity - Project: Maronan Project - Commodity: copper - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:90e6cd88ba850ff96cb8 - Material type: transitional - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 2300000 - Grade: 0.63 - Grade Unit: % - Contained Metal: 14000 - Contained Unit: t - Cutoff Grade: 0.4 - Cutoff Unit: % Copper #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: This transitional copper resource contributes to the project's overall copper endowment, but its inferred status and lower grade compared to fresh material indicate a need for further definition. - Positive factor: Adds to the overall copper resource in the transitional zone - Negative factor: Inferred category has lower geological confidence - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 0.63 Context: 2.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-16) Maronan Project · gold #### Identity - Project: Maronan Project - Commodity: gold - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:90e6cd88ba850ff96cb8 - Material type: transitional - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 2300000 - Grade: 0.45 - Grade Unit: g/t - Contained Metal: 33000 - Contained Unit: oz - Cutoff Grade: 0.4 - Cutoff Unit: % Copper #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: The gold component in the transitional material adds to the overall gold resource, but its inferred status and moderate grade suggest it's a secondary contributor. - Positive factor: Adds to the overall gold resource in the transitional zone - Negative factor: Inferred category has lower geological confidence - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 0.45 Context: 2.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-17) Maronan Project · silver #### Identity - Project: Maronan Project - Commodity: silver - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:90e6cd88ba850ff96cb8 - Material type: transitional - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 2300000 - Grade: 7 - Grade Unit: g/t - Contained Metal: 0.5 - Contained Unit: moz - Cutoff Grade: 0.4 - Cutoff Unit: % Copper #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: The silver component in the transitional material is a minor byproduct, contributing to the polymetallic nature but not a primary driver of value. - Positive factor: Adds a silver credit to the transitional copper-gold resource - Negative factor: Low silver grade, indicating it's a minor byproduct - Negative factor: Inferred category has lower geological confidence - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 7 Context: 2.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-18) Maronan Project · copper #### Identity - Project: Maronan Project - Commodity: copper - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:fbffba32e07d7b697832 - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 28600000 - Grade: 0.87 - Grade Unit: % - Contained Metal: 248000 - Contained Unit: t - Cutoff Grade: 0.4 - Cutoff Unit: % Copper #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: This large inferred fresh copper resource is the most significant component of the copper-gold endowment, providing substantial scale and grade for future development. - Positive factor: Very large tonnage and contained copper in the fresh material, forming the bulk of the copper-gold resource - Positive factor: Good copper grade for a fresh material type - Negative factor: Inferred category has lower geological confidence - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 0.87 Context: 28.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-19) Maronan Project · gold #### Identity - Project: Maronan Project - Commodity: gold - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:fbffba32e07d7b697832 - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 28600000 - Grade: 0.64 - Grade Unit: g/t - Contained Metal: 591000 - Contained Unit: oz - Cutoff Grade: 0.4 - Cutoff Unit: % Copper #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: The gold component in the fresh material is a significant credit, enhancing the overall value of the copper-gold resource. - Positive factor: Significant contained gold in the fresh material, adding substantial value to the copper resource - Positive factor: Good gold grade for a fresh material type - Negative factor: Inferred category has lower geological confidence - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 0.64 Context: 28.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-20) Maronan Project · silver #### Identity - Project: Maronan Project - Commodity: silver - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:fbffba32e07d7b697832 - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 28600000 - Grade: 7 - Grade Unit: g/t - Contained Metal: 6.6 - Contained Unit: moz - Cutoff Grade: 0.4 - Cutoff Unit: % Copper #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: The silver component in the fresh material is a minor byproduct, contributing to the polymetallic nature but not a primary driver of value. - Positive factor: Adds a silver credit to the fresh copper-gold resource - Negative factor: Low silver grade, indicating it's a minor byproduct - Negative factor: Inferred category has lower geological confidence - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 7 Context: 28.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-21) Maronan Project · copper #### Identity - Project: Maronan Project - Commodity: copper - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:c9d6b6ade5c8da0c594b - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 32000000 - Grade: 0.85 - Grade Unit: % - Contained Metal: 271000 - Contained Unit: t - Cutoff Grade: 0.4 - Cutoff Unit: % Copper #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: The global copper-gold resource demonstrates substantial scale, with a large contained copper component, providing a strong foundation for future development. - Positive factor: Very large total contained copper, indicating a significant project scale - Positive factor: Good overall copper grade - Negative factor: A significant portion is in the inferred category, requiring further de-risking - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 0.85 Context: 32.0 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-22) Maronan Project · gold #### Identity - Project: Maronan Project - Commodity: gold - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:c9d6b6ade5c8da0c594b - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 32000000 - Grade: 0.63 - Grade Unit: g/t - Contained Metal: 649000 - Contained Unit: oz - Cutoff Grade: 0.4 - Cutoff Unit: % Copper #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: The global copper-gold resource includes a substantial gold component, significantly enhancing the project's overall value proposition. - Positive factor: Very large total contained gold, adding significant value to the copper resource - Positive factor: Good overall gold grade - Negative factor: A significant portion is in the inferred category, requiring further de-risking - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 0.63 Context: 32.0 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-23) Maronan Project · silver #### Identity - Project: Maronan Project - Commodity: silver - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:c9d6b6ade5c8da0c594b - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 32000000 - Grade: 7 - Grade Unit: g/t - Contained Metal: 7.4 - Contained Unit: moz - Cutoff Grade: 0.4 - Cutoff Unit: % Copper #### Prior Estimate - Resource Date: 2025-06-06 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: The silver component in the global copper-gold resource is a minor byproduct, contributing to the polymetallic nature but not a primary driver of value. - Positive factor: Adds a silver credit to the global copper-gold resource - Negative factor: Low silver grade, indicating it's a minor byproduct - Negative factor: A significant portion is in the inferred category, requiring further de-risking - Negative factor: Estimate is from June 2025, limiting novelty Evidence · table > 7 Context: 32.0 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-24) Maronan Project · gold #### Identity - Project: Maronan Project - Commodity: gold - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:479137efc4e5bcbfd96c - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1800000 - Grade: 1.24 - Grade Unit: g/t - Contained Metal: 72000 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: g/t Gold #### Prior Estimate - Resource Date: 2024-03-12 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: This inferred gold-only resource provides an additional gold component, but its smaller scale and inferred status suggest it's a secondary focus compared to the larger polymetallic resources. - Positive factor: Adds a standalone gold resource component - Negative factor: Inferred category has lower geological confidence - Negative factor: Estimate is from March 2024, limiting novelty - Negative factor: Relatively small tonnage compared to other resources Evidence · table > 1.24 Context: 1.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.6 years before this release ### Fact 26 [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-resource-facts-29) Maronan Project #### Identity - Project: Maronan Project - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Resource scope - Reporting standards: jorc - Resource group id: resource:c5e41460729cba618466 - Ownership percent: 100 % #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: The progress towards lodging the Mining Licence application is a positive step, showing continued advancement of the project through the regulatory process. - Positive factor: Mining Licence application is on track for lodgement, indicating continued progress towards production - Positive factor: Engagement with Queensland Office of the Coordinator General for Coordinated Project Status - Negative factor: Application is still in preparation, not yet lodged or approved Evidence · text > Mining Licence application on track for submitting by end of 2026 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## Metallurgical Results (4) ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-metallurgical-facts-25) Maronan Project · lead #### Identity - Project: Maronan Project - Commodity: lead - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: Lead Flotation #### Recovery - Recovery: 90 % - Recovery Basis: actual\_test - Conc. Grade: 70 - Conc. Grade Unit: % #### Lab - Laboratory: AMML Lab in Gosford #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: The lead flotation testwork demonstrates exceptional recovery and concentrate quality, significantly de-risking the processing pathway for the silver-lead resource. - Positive factor: Very high lead recovery, indicating efficient processing - Positive factor: Very high-grade concentrate, which is highly desirable for smelters Evidence · text > Pb Rec > 90 % • Very High-Grade Concentrate – > 70% Lead #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-metallurgical-facts-26) Maronan Project · silver #### Identity - Project: Maronan Project - Commodity: silver - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: Lead Flotation #### Recovery - Recovery: 90 % - Recovery Basis: actual\_test - Conc. Grade: 1500 - Conc. Grade Unit: g/t #### Lab - Laboratory: AMML Lab in Gosford #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: The silver recovery in the lead flotation circuit is excellent, producing a very high-grade silver concentrate, which is a strong positive for project economics. - Positive factor: Very high silver recovery, indicating efficient processing - Positive factor: Very high-grade silver in concentrate, adding significant value Evidence · text > Ag Rec > 90 % • Very High-Grade Concentrate – > 1,500 g/t Silver #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: 90% is at or above the exceptional band \(90%\) ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-metallurgical-facts-27) Maronan Project · copper #### Identity - Project: Maronan Project - Commodity: copper - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: Copper Flotation #### Recovery - Recovery: 90 % - Recovery Basis: actual\_test - Conc. Grade: 25 - Conc. Grade Unit: % #### Lab - Laboratory: AMML Lab in Gosford #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: The copper flotation testwork shows strong recovery and a good quality concentrate, supporting the viability of the copper-gold resource. - Positive factor: High copper recovery, indicating efficient processing - Positive factor: Good quality concentrate grade, desirable for smelters Evidence · text > Cu Rec > 90% • Good quality concentrates – 23 – 27 % Cu #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/mma-sydney-mining-club-presentation--310a3e6c-6ee0-4b01-b1c9-b0525634619a#fact-metallurgical-facts-28) Maronan Project · gold #### Identity - Project: Maronan Project - Commodity: gold - Region: australia\_qld - Reported Region: Queensland - Ticker: MMA #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: Copper Flotation #### Recovery - Recovery: 84 % - Recovery Basis: actual\_test - Conc. Grade: 12.5 - Conc. Grade Unit: g/t #### Lab - Laboratory: AMML Lab in Gosford #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: The gold recovery in the copper flotation circuit is strong, producing a valuable gold credit in the concentrate and enhancing overall project economics. - Positive factor: Strong gold recovery, adding significant value to the copper concentrate - Positive factor: Good gold grade in concentrate Evidence · text > Au Rec 80 – 88 % Rec • Good quality concentrates – 10 – 15 g/t Au #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.