Maritana Minerals, formerly known as Horizon Minerals, has reported outstanding gold intercepts from its phase one diamond drilling program at the Burbanks project, located 9 kilometres south of Coolgardie in Western Australia.
Exceptional Drill Results
The drilling campaign delivered a series of impressive hits, with one standout intercept returning 4.20 metres at 42.43 grams per tonne (g/t) gold from a depth of 289.63 metres. This interval included 1.37 metres grading an extraordinary 126.93 g/t gold from 290.84 metres.
The same hole also produced two additional intercepts: 0.30 metres at 54.02 g/t gold from 207.41 metres, and 1.84 metres at 5.98 g/t gold from 223 metres, which itself contained 1.20 metres at 8.69 g/t gold from 223.64 metres.
A second hole yielded 0.63 metres at 24.32 g/t gold from 460.37 metres, including 0.30 metres at 40.95 g/t gold. A third hole returned 1.81 metres at 13.82 g/t gold from 113.88 metres.
Drilling Program Completed
Maritana has now wrapped up its phase one diamond drilling program, with all assay results received for the Burbanks North drilling. Results from an additional four holes—three in the southern part of the drilling pattern and one in the eastern section—are expected shortly.
The 53-hole, 15,798-metre program was designed to infill and upgrade the existing resource, while also extending mineralisation along strike and at depth. The drilling also tested the down-dip potential of shallow mineralisation in the southwest.
Resource Upgrade Underway
The campaign aims to increase geological confidence at the Burbanks North open pit, which currently hosts 6.1 million tonnes at a grade of 2.4 g/t gold for 466,000 ounces of gold. It will also provide a clearer picture of the untapped underground potential.
Management stated that the results are being incorporated into an updated geological model and a new mineral resource estimate for Burbanks North. The company noted that the drilling continues to demonstrate exceptional high-grade gold mineralisation associated with the Burbanks shear structure, with visible gold observed in quartz veining.
Ore reserve modelling and estimation will follow as confidence improves and parts of the resource transition from inferred to indicated categories.
Path to Production
Grant Haywood, Maritana Minerals Managing Director and CEO, 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 component of Maritana’s broader strategy to become a standalone gold producer in Western Australia. The company is targeting first gold production from its Black Swan processing hub, located 50 kilometres northeast of Kalgoorlie, by mid-2027, following refurbishment and conversion to a carbon-in-leach circuit.
With phase one drilling complete and all assays from Burbanks North received, the company aims to finalise its mineral resource estimate update in the June 2026 quarter. The updated numbers are expected to enhance confidence in resource classification, facilitate the transition of inferred to indicated resources, and ultimately support ore reserve estimations.
The exceptional gold grades from Burbanks are significant, and the timing aligns well with the upcoming resource update and potential new reserves due next quarter. If Maritana can maintain exploration momentum while bringing the refurbished Black Swan hub online for a planned mid-2027 first gold pour, it will have assembled the necessary components to re-emerge as a genuine producer in the WA Goldfields.
