What is the latest update for Maritana Minerals (ASX:MRT)?

Maritana Minerals has officially commenced its Phase 2 drilling program at the 100% owned Burbanks Gold Project in Western Australia. To accelerate this stage, the company has mobilized a second drill rig to the site following the completion of a successful 15,000m Phase 1 campaign.

What are the specific technical goals of the Phase 2 program at Burbanks?

The Phase 2 program is designed to test and extend the Inferred Resource at the high-grade Burbanks Main and Birthday Gift Lodes. Specifically, Maritana Minerals (ASX:MRT) is targeting mineralization at depths between 250m and 450m below the surface.

How much gold does Maritana Minerals (ASX:MRT) plan to produce annually?

The company is targeting an initial production rate of 100,000 ounces of gold per annum over a five-year life of mine. The Phase 2 drilling is a strategic step toward meeting this goal by defining the underground portion of the Burbanks Project.

What is the historical production significance of the Burbanks Gold Project?

Burbanks has a history of high-grade output, having produced 324,000 ounces of gold at a grade of 22.7g/t Au from historical underground mining. This high-grade history supports the company's current exploration thesis.

What is the current JORC Mineral Resource estimate for the Burbanks Project?

As of the latest reports, the Burbanks Gold Project holds an existing JORC (2012) Mineral Resource of 6.1 million tonnes (Mt). This resource grades at 2.4g/t Au, representing approximately 466,000 ounces of gold.

Why did Maritana Minerals (ASX:MRT) add a second drill rig to the site?

The addition of a second rig is a tactical move to accelerate the drilling schedule and de-risk the startup of ore delivery to the Black Swan Processing Hub.

What are the main bull and bear points for Maritana Minerals (ASX:MRT) right now?

The bull case rests on the high-grade historical data (22.7g/t Au) and the potential to significantly expand the resource at depth. The bear case involves the typical risks of exploratory drilling; there is no guarantee that Phase 2 will successfully convert Inferred Resources into mineable reserves.

Maritana Minerals begins Phase 2 Burbanks drilling

Written by Heidi Cuthbert Published May. 14 2026Last Updated May. 14 2026

Maritana Minerals (ASX:MRT) commenced its Phase 2 drilling programme at the Burbanks Gold Project, situated 9km south of Coolgardie in the Western Australian Goldfields.

Following the completion of a 15,000m Phase 1 campaign, the company has mobilised a second drill rig to the site to accelerate operations and de-risk ore delivery to the Black Swan Processing Hub.

The next stage of exploration is specifically designed to test and extend the inferred resource of the high-grade Burbanks Main and Birthday Gift lodes, targeting depths from 250m to 450m below the surface.

The underground portion of the project represents significant upside potential for the current life of mine, which aims to produce 100,000 ounces of gold per annum over an initial five-year period.

Historically, underground mining at Burbanks has produced 324,000 ounces at a grade of 22.7g/t Au. This historical data sits alongside an existing JORC (2012) mineral resource of 6.1Mt grading 2.4g/t Au for 466,000 ounces.

Managing Director Grant Haywood stated that Phase 1 reaffirmed the high-grade nature of the mineralised system, and Phase 2 serves as a critical step in accelerating the exploration and development strategy to provide consistent feed for the Black Swan processing hub.

At the time of reporting, Maritana Minerals’ share price was $0.83.