- RC drilling of extensions of the existing mineral resource at Marda
- Testing gold workings trends where prior rock chip sampling returned high-grade gold
- New DHEM anomalies identified at Evanston and Golden Orb with several drill holes planned
- Well funded to support accelerated exploration program
Leeuwin Metals (ASX: LM1) is accelerating exploration at the Marda gold project in WA with a high impact RC drill program underway.
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The 5,000m program is designed to help extend mineralisation and to test new under explored high-grade trends.
Executive chairman, Christopher Piggott, said drilling will also target newly defined down-hole electromagnetic (DHEM) targets at Evanston and Golden Orb.
“The drill program is designed to test extensions of the existing 342,300 ounce mineral resource and to follow up under-explored structural trends at Marda,” he said.
“With the maiden Resource as a base, 11 under-drilled north–south structural trends, prior rock chip anomalism at Atkinson Find and Allens Find, and newly defined DHEM anomalies at Evanston and Golden Orb, we believe the program is well positioned to deliver meaningful exploration outcomes.
“The company is well funded for the program and we look forward to reporting results in due course.”
Mr Piggott said Leeuwin’s strategic focus remains on discovery and resource growth across multiple gold targets within the broader Marda gold project.
“Following the success of the initial drilling programs and maiden MRE, the company will continue systematically testing extensions of mineralisation along key structural trends while advancing its broader pipeline of prospects.”
First assays results from the current drill program are expected in the coming months, with drilling ongoing. A total of 5,000m is planned.
“Further regional targeting and work programs will also commence, advancing several additional targets within the project.”
Leeuwin considers Marda as a cornerstone gold asset with strong growth potential.
“The project is strategically positioned on granted mining leases, close to established infrastructure and processing facilities.”
LM1 is up 33.3% to 18.0¢. Mkt cap $17.17M.
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