The latest RC drilling program from the Evanston and Golden Orb deposits at the Marda Gold Project has returned multiple shallow gold intercepts, Leeuwin Metals (ASX:LM1) told shareholders today, reinforcing the potential for resource expansion at its 100%-owned Western Australia project.
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Leeuwin has been fairly eager to upgrade the global Mineral Resource at Marda for some time now; it currently boasts a resource of 342,300oz gold.
Results from the Evanston deposit validate historical data and suggest that mineralisation remains open along strike and at depth across a 1.6-kilometre trend. Evanston is contributing 135,800oz to the current resource.
Then, over at Golden Orb, initial RC drilling has focused on strike as well as down-dip extensions. Notable intercepts include 11 metres @ 1.44g/t gold from 176 metres and six metres @ 1g/t gold from 130m. These results highlight exploration upside beneath the existing pit and at Golden Orb’s West target.
“Initial drilling… has been extremely encouraging and highlights the potential along strike of the existing resource and pit,” Leeuwin chairman Christopher Piggott said today. “With shallow intercepts and true widths within the top 100m of surface, these results point to additional resource growth at Evanston.”
Most exciting, Mr Piggott pointed out, is that there’s still a “significant amount” of assays pending as well, and plenty of major workings and shoots at Marda Central the explorer already wants to take a closer look at.
“We have several work streams ongoing, focused on growing resources and advancing Evanston, which sits on a newly granted mining lease,” he said.
Beyond the last 13 RC hole results, Leeuwin will be running a new program in May. That campaign will specifically be targeting the high-grade workings and down-dip extensions at Marda Central and follow-up targets at Golden Orb. Downhole electromagnetic surveys are already underway to refine targets.
LM1 has been selling at 14.5cps on Thursday.
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