Maritana Minerals, formerly Horizon Minerals, has delivered more sizzling gold intercepts from phase one diamond drilling at its Burbanks project, near Coolgardie in Western Australia.
The drill bit has nailed an impressive string of hits, with one standout intercept delivering 4.20m at 42.43 grams per tonne (g/t) gold from 289.63m, including 1.37m going an eye-watering 126.93g/t gold from 290.84m.
The same hole also delivered two separate intercepts, with 0.30m assaying 54.02g/t gold from 207.41mm and 1.84m at 5.98g/t gold from 223m, with an additional hit of 1.20m running 8.69g/t gold from 223.64m depth.
A second hole gave up 0.63m at 24.32g/t gold from 460.37m, featuring 0.30m assaying 40.95g/t gold from 460.37m, while a third hole, not to be left out, produced 1.81m at 13.82g/t gold from 113.88m.
Maritana says its phase one diamond drilling program has wrapped up, with assay results received for all of the Burbanks North drilling. The results of four further holes - three of which are in the southern part of the drilling pattern and one in the eastern section – are expected shortly.
The 53-hole, 15,798m program was designed to tighten up the existing resource with infill drilling, while also stretching its legs along strike and at depth. The drill bit was also tasked with probing the down-dip potential of shallow mineralisation in the southwest.
The campaign is set to lift geological confidence at its Burbanks North open pit, currently host to 6.1 million tonnes at a grade of 2.4g/t gold for 466,000 ounces of gold, while giving the geos a much clearer read on the untapped underground potential, still waiting in the wings.
Management says the results are being incorporated into an updated geological model and a new mineral resource estimate for Burbanks North.
The company says its Burbanks North drilling continues to demonstrate exceptional, high-grade gold mineralisation associated with the Burbanks shear structure. Visible gold can be seen in quartz veining in the shear zone, as reflected by the 126.93g/t gold hit in this latest suite of results.
Ore reserves modelling and estimation will follow as confidence improves and parts of the resource transition from inferred to indicated categories as new data come to hand.
Maritana Minerals managing director and chief executive officer Grant Haywood said: “Following strong results previously reported, the latest assays from Burbanks continue to demonstrate consistent high-grade mineralisation and improved geological confidence. The ongoing success of the drilling program continues to de-risk the project, as we progress Burbanks towards becoming a reliable source of feed for Maritana’s 100% owned Black Swan Processing Hub.”
The Burbanks drilling is a key part of Maritana's broader plan to become a standalone WA gold producer. The company is targeting first gold production from its Black Swan processing hub, 50 kilometres north-east of Kalgoorlie, by mid-2027, once refurbishment and conversion to a carbon-in-leach circuit are complete.
With its phase one drilling now done and dusted and all assays from Burbanks North drilling received, the company is aiming to complete its mineral resource estimate update in the June 2026 quarter.
The new numbers are expected to lend improved confidence in the resource classification, the transition of inferred to indicated resources and ultimately in ore reserve estimations.
The exceptional gold grades coming out of Burbanks are hard to ignore and the timing looks perfect with a resource update and the possibility of fresh reserves due next quarter.
If Maritana can keep the exploration momentum humming while bringing its refurbished Black Swan hub online for a planned mid-2027 first gold pour, it will have just about assembled all the moving parts needed to re-emerge as a genuine WA Goldfields producer.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Doug Bright
