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Leeuwin Metals (ASX:LM1) is plotting “additional growth” at the Evanston Mine after bringing in significant results from step-out drilling outside the existing resource estimate at the broader Marda Gold Project.
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Latest assays from drilling at the Western Australia project identified shallow gold mineralisation stretching beyond the current boundaries.
High-grade intercepts picked up by Leeuwin included 14 metres at 1.72 grams per tonne gold from 98 metres (including three metres at 4.75g/t gold); the strong February hits came within the top 100 metres of the surface.
“These new results build on the recent drilling and are extensions from the existing resource,” company chairman Chris Piggott said.
There’s enough in the hits, he explained, to look at expanding again. “With shallow intercepts and true widths within the top 100 metres of surface, these results point to additional resource growth at Evanston.”
New data also suggested there’s higher-grade mineralisation sitting some 250 metres down-dip of the existing pit, the explorer also confirmed today.
Leeuwin is already running a 10,000-metre drilling program across Evanston, targeting the site’s 1.6-kilometre trend. That should also expand that to these new targets. Drilling is expected to wrap up a little later this month, with samples to then be shipped to Perth for analysis and an eventual return.
“There is a significant amount of assays pending,” Mr Piggott also pointed out. “[And], looking to the coming work programs, we’re also very excited about the prospect of drill testing the significant workings we’ve identified at Marda Central, and the shoots beneath the existing pits. The company has several work streams ongoing; it remains an exciting time to be a LM1 shareholder.”
The Marda project currently boasts a global MRE of 342,300 ounces of gold. The Evanston mine makes up as much as 135.8Koz, split between 1.5 metric tonnes at 1g/t gold indicated and 2.8Mt at 0.97g/t gold inferred.
LM1 opened @ 17cps early Tuesday morning.
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