New EM Anomalies at Evanston Signal Potential for Larger Gold System

• Multiple shallow gold intercepts along 1.6km Evanston trend
• New down-hole electromagnetic anomalies indicate down-dip extensions
• 10,000m reverse circulation drilling program commencing November
• Maiden mineral resource estimate planned for Marda Gold Project
• Strong funding position following recent placement

Exploration Momentum Builds at Evanston

Leeuwin Metals Ltd (ASX:LM1) has delivered encouraging exploration results from its Marda Gold Project in Western Australia, with recent drilling confirming an extensive shallow gold mineralisation trend along 1.6 kilometres at the Evanston prospect. The company’s latest assays include notable intercepts such as 7 metres at 3.55 grams per tonne gold from 17 metres depth, highlighting the potential scale of the mineralised system.

Adding to the excitement, down-hole electromagnetic (DHEM) surveys have identified numerous new anomalies that suggest the gold mineralisation extends down-dip beyond the current drilling footprint. These geophysical signatures point to a larger, more complex system than previously understood, with mineralisation remaining open both along strike and at depth.

Strategic Drilling Program to Test Extensions

Building on these findings, Leeuwin is poised to commence a substantial 10,000-metre reverse circulation (RC) drilling program this month. The campaign will focus on shallow step-outs and down-dip extensions along the Evanston trend, aiming to expand the known mineralisation and refine the geological model. This program is a critical step toward delivering a maiden mineral resource estimate for the Marda Gold Project, expected to provide a clearer picture of the project's economic potential.

Executive Chairman Christopher Piggott emphasised the significance of the results, stating that the combination of strong drill intercepts and compelling DHEM anomalies underscores the prospect’s growth upside. He highlighted the company’s robust balance sheet, secured through a recent capital placement, which supports the aggressive exploration agenda planned for the remainder of the year.

Geological Context and Project Outlook

The Evanston prospect hosts shallow, sulphide-associated stratiform gold mineralisation within laminated cherts, situated in a folded geological sequence. This setting lends itself well to electromagnetic targeting techniques, which have proven effective in delineating conductive sulphide-rich zones. The mineralisation is characterised by near-surface, flat-lying lenses that remain open for expansion, offering multiple avenues for discovery.

Leeuwin’s broader Marda Gold Project benefits from granted mining leases and proximity to existing infrastructure, factors that enhance the project's development prospects. The company’s systematic approach to exploration, combining drilling with geophysical surveys and ongoing target assessment, aims to build geological confidence and unlock structural controls on mineralisation.

Looking Ahead

With drilling set to recommence imminently and a maiden resource estimate on the horizon, Leeuwin Metals is entering a pivotal phase for the Marda Gold Project. The combination of strong shallow gold results and new geophysical targets positions the company well to advance its exploration and growth strategy in a competitive gold market.

Bottom Line?

Leeuwin Metals’ upcoming drilling and resource update at Marda will be key to validating the project’s potential and shaping its next growth phase.

Questions in the middle?

• How will the maiden resource estimate quantify the scale and grade of the Evanston mineralisation?
• What are the implications of the ongoing native title claim on project timelines and development?
• Could further down-dip extensions revealed by DHEM lead to deeper, higher-grade zones?