Leeuwin identifies ‘high-priority’ gold intercepts at Marda, sets drilling date for late CY26

Leeuwin Metals (ASX:LM1) has identified multiple “significant” historical drill intercepts across regional prospects at its Marda gold project in Western Australia. The findings, dug up at the Red Boomerang and Deception Hill prospects, sit entirely outside the project’s current resource estimate.

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Fieldwork is underway at these targets, and the company has submitted Programmes of Work in anticipation of new drilling for second half CY26.

Regional targeting across the database highlighted several high-grade and broad gold intercepts. Notable historical results included 66 metres @ 1.12 grams per tonne gold from 13 metres, including 18 metres @ 2.32 grams per tonne gold from 16 metres, and 24 metres @ 1.79 g/t gold from zero metres.

The targets are very “exciting,” Leeuwin’s chairman Christopher Piggott told shareholders today, and said recent regional targeting “has identified high-priority drill targets that can add meaningful ounces to the base at Marda.”

The historical results at Red Boomerang and Deception Hill are highly encouraging, and they reinforce our view that Marda has significant potential,” he said.

Mr Piggott added: “In addition to the large historical database, we have 55 holes from our recent Leeuwin drilling with assays pending, and a resource upgrade underway across Golden Orb, Evanston, and Marda Central.”

Permitting and drill planning are progressing for the run, alongside mine permitting, design, and discussions on a Mining Environmental Growth Agreement.

Marda currently holds a global Mineral Resource estimate of 342,300 ounces of gold, which was first defined in December CY25. This comprises an Indicated category of 2.1 million tonnes at 1.1g/t gold (for 73,800 ounces) and an Inferred category of 8.1M tonnes at 1.03g/t gold (for 268,500 ounces).

LM1 heads into today at 18.5cps.

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