Leeuwin Metals’ Marda Drilling Faces Uncertainty Ahead of Assay Results on New Targets

Drilling Targets to Build on Maiden Resource

Leeuwin Metals Ltd (ASX:LM1) has commenced a high-impact reverse circulation (RC) drilling program at its Marda Gold Project, located near Southern Cross in Western Australia. The 5,000-metre campaign is designed to test extensions of the project’s recently defined maiden Mineral Resource of 342,300 ounces, which comprises 2.1 million tonnes at 1.1 g/t gold indicated and 8.1 million tonnes at 1.03 g/t inferred. The program will also explore 11 under-drilled north-south trending high-grade gold workings, aiming to unlock new zones of mineralisation beyond the current resource boundaries.

The drilling will focus on historically significant gold workings such as Atkinson Find and Allens Find, where previous rock chip sampling returned exceptional assay peaks including 62.4 g/t and 18.55 g/t gold respectively. These targets have seen limited prior drill testing, presenting fresh opportunities to expand the resource base.

New Electromagnetic Anomalies at Evanston and Golden Orb

Complementing the surface drilling, Leeuwin is set to test newly identified down-hole electromagnetic (DHEM) conductors at Evanston and Golden Orb. These anomalies, modelled from recent geophysical surveys, lie outside the current Mineral Resource envelopes and could represent sulphide-rich, gold-bearing lodes. The Evanston conductor measures approximately 150 by 130 metres, while the Golden Orb anomaly extends about 165 by 165 metres, both sizeable targets for follow-up drilling.

These DHEM targets build on Leeuwin’s recent success in expanding the Evanston resource, which currently holds 135,800 ounces of gold. The company’s ongoing work at Evanston and Golden Orb has already yielded multiple shallow gold intercepts, reinforcing the potential for further resource growth. This drilling campaign follows a series of encouraging results from previous programs, including a substantial 10,000-metre drill initiative at Evanston that confirmed high-grade extensions beyond the existing resource boundaries. The current program therefore integrates these geophysical insights to sharpen exploration focus.

Strategic Positioning and Funding for Growth

Leeuwin’s Executive Chairman Christopher Piggott emphasised the strategic intent behind the drilling, noting that the program is well funded and poised to deliver meaningful exploration outcomes. The Marda Gold Project benefits from granted mining leases and proximity to established infrastructure, which supports efficient field operations and positions the asset well for potential development. The project sits within the Marlinyu Ghoorlie Native Title claim area, with all tenements in good standing and no known impediments to ongoing exploration.

The company plans to systematically test mineralisation extensions along key structural trends while advancing a broader pipeline of prospects across the Marda tenement package. First assay results from the current drilling are anticipated in the coming months, with the program ongoing. In parallel, regional targeting and supplementary work programs are set to commence, further advancing the project’s exploration pipeline.

Marda Project’s Growing Significance in Leeuwin’s Portfolio

The Marda Gold Project represents a cornerstone asset for Leeuwin Metals, complementing its portfolio of critical minerals projects in Australia and Canada. Its recent maiden Mineral Resource Estimate (MRE) was a major milestone, reported under the 2012 JORC Code and optimised for potential open pit and underground mining scenarios. The company’s focus on resource growth and discovery at Marda is supported by a skilled management team with expertise across exploration and development.

Leeuwin’s sustained drilling at Marda follows a string of positive results, including the shallow gold intercepts at Evanston and Golden Orb and the 10,000m drill program expanding Evanston resource, which have underpinned confidence in the project’s upside potential. The integration of DHEM geophysical data into the current campaign exemplifies a targeted approach to exploration, aiming to convert geophysical anomalies into drill-defined resources.