Red Metal has been handed a serious reason to cheer after Maronan Metals, in which it holds a chunky 44 per cent stake, dropped the curtain on a scoping study that screams potential for its namesake silver-lead-copper-gold deposit in northwest Queensland.

The numbers are in, and the message is clear. The shallow Starter Zone at Maronan is shaping up as the real deal, with the findings revealing a compelling economic case for an underground mine development.

Red Metal owns a 44 per cent stake in ASX-listed Maronan Metals, which released positive scoping study on its namesake flagship polymetallic project in Queensland.

The two options of a standalone operation and a toll treatment route were pitted against each other, with standalone processing eventually winning by a nose.

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