Leeuwin Metals (ASX:LM1) has recovered high-grade gold in rock chips as it fast-tracks exploration at Marda in Western Australia, while simultaneously working on sampling at the Mt King prospect as part of an aggressive series of programs aimed at increasing resource numbers and identifying new discoveries.
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In early December CY25, Leeuwin announced a maiden global Mineral Resource Estimate for Marda of 342,300 ounces. Leeuwin’s executive chairman, Christopher Piggott, has today said the company is now well-positioned to systematically advance new areas and then add to the new resource numbers.
“2026 is shaping up to be an exciting year for LM1 shareholders, with multiple exploration programs underway across Marda,” Mr Piggott declared.
“Drilling is currently in full swing at Evanston,” he continued, “where we are targeting expansion of the existing mineral resource along the 1.6 km trend. Down Hole EM will be completed on these holes with the aim of identifying new anomalies and potential extensions of the resource.”
Mr Piggott told Leeuwin shareholders the receipt of the high-grade Mt King rock chip results has further highlighted the upside at Marda. Gold assays from Mt King included 39.9 grams per tonne; 25.8 g/t, 19.85 g/t, and 13.4 g/t.
Earlier this month, Leeuwin also kicked off a 10,000-metre drilling program at Marda with a focus on extending mineralisation at the Evanston deposit, which has a current MRE of 135,800 ounces.
That program is targeting down-dip and along-strike extensions, testing high-grade shoots and following recently identified down-hole electromagnetic targets.
Future exploration is being driven by ongoing prospect reviews at Marda, with a leading focus on defining fresh, structurally prospective corridors across the wider project area to build a pipeline of follow-up targets in the region.
Leeuwin’s is also conducting a strategic review of the Cross Lake Lithium project and the William Lake nickel and PGE project – both in Manitoba, Canada.
This morning, LM1 has been 20cps.
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