ASX-listed Maronan Metals has been granted a mineral development licence (MDL) for its Maronan silver project in north-west Queensland, Australia, representing a significant milestone in advancing the project toward development readiness.

The grant of the MDL covers the Maronan deposit and proposed mine infrastructure within the company’s 100%-owned Exploration Permit 13368 and follows the completion of all key statutory processes, including mining and environmental approvals and native title agreements.

The licence also allows for the excavation of a boxcut and development of a decline to facilitate accelerated drill-out of the starter zone resource to support potential future ore reserve estimation.

It also supports the current fast-track timeline for project development remaining on schedule and provides project flexibility to advance potential reserve conversion through underground access, while continuing to add value through targeted surface drilling programmes.

Maronan notes that it took less than 12 months from lodging the application, further highlighting this project’s low-permitting risk.

“The grant of the MDL allows our Maronan project to be fast-tracked toward development-readiness,” says chairperson Simon Bird.

He says the MDL materially strengthens the project’s regulatory position and marks a clear step forward into structured development planning.

He adds that it also gives the company flexibility in how it sequences the next stages of work, and in the timing and funding of future development activities.

“I would like to sincerely thank the Queensland government’s regulation team for their efficiency, key stakeholders for the continued support and cooperation, and our professional staff and consultants for their dedication in delivering this outcome.”

Maronan says the MDL builds on substantial feasibility and development work already undertaken at the project.

As previously announced on December 22, 2025, the company completed a programme of infill and geotechnical drilling designed to support mine design activities, including data to inform potential boxcut location and underground access planning.

In addition, Maronan points out that the company’s preliminary economic assessment (PEA), published in October 2025, demonstrates a compelling development scenario for the starter zone, which represents about 22% of the total mineral resource.

The PEA economics were presented at a base silver price of $36/oz, with sensitivity analysis extending to $52/oz. Since publication of the PEA, silver prices have traded materially above these assumptions.

While no updated economic outcomes have been released, Maronan says sustained silver prices at recent levels provide a materially improved pricing environment relative to that contemplated in the PEA.

With the MDL granted, the company says its team will continue to progress the Maronan silver project towards development.

Key next steps include finalisation of the updated landholder compensation agreement which is well advanced; additional infill surface drilling to expand the Indicated resource base; and ongoing technical and regulatory work to support future mining lease and development decisions.