Maritana Minerals Limited (ASX:MRT), formerly Horizon Minerals Limited (ASX:HRZ), is an emerging junior gold producer with 1.9moz of gold resources located around the Kalgoorlie and Coolgardie regions of Western Australia. MRT has released updates on exploration at Burbanks and further asset acquisition at Black Swan. Assay results from drilling at Burbanks continue to support the prior resource and indicate the potential for incremental resource growth. The commencement of a second round of drilling will target further resource definition and growth with a focus on the underground resource. Across two deals, at modest consideration, MRT significantly added to its tenement package around Black Swan which has demonstrated prospectivity for gold. We retain our valuation of $3.003/share, which is a premium of 352% to the current share price.
