- Potential indicated for additional gold beyond existing resource base.
- Exploration target in addition Marda gold project MRE
- Development work programs advancing
- Environmental studies underway and mine planning scheduled to commence
Leeuwin Metals (ASX: LM1) has defined an exploration target across the Marda gold project in Western Australia.
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The exploration target has been identified outside the current Marda gold project mineral resource estimate of 11.4 million tonnes (Mt) at 1.03 grams per tonne (g/t) for 378,600 ounces of gold, announced in late July 2026.
The exploration target of 4.3 Mt to 6.6 Mt at 0.9 g/t to 1.0 g/tfor approximately 142,000 ounces to 186,000 ounces of gold.
“The definition of this maiden exploration target, on top of our 378,600 ounce mineral resource, shows just how much more the Marda gold system has to give,” Leeuwin Executive Chairman, Christopher Piggott, said:
It provides a clear, conceptual pathway to grow the Project well beyond its current Resource base across six deposits that remain open and under-drilled, and it sits alongside a Resource that we have already grown to 378,600 oz. With today’s Exploration Target, we see a pathway to the critical milestone of plus 500,000n ounces in time and demonstrates the strategic value of the project. There remain several areas within the project that are yet to be further explored with more growth across the project expected.”
The company has plans for extensional and infill drilling, geological model updates and target ranking to validate the exploration target and support further mineral resource growth.
The exploration target will be tested by an approximately 10,000m RC extensional and infill drilling programme across the Die Hardy, Red Legs, Red Boomerang, Goldstream, Taipan and Golden Orb deposits, planned to commence in Q4 2026 and to be completed, together with updated geological models, by Q2 2027. Completion of the programme is subject to funding and approvals.
LM1 was up 2.22% to 23.0¢. Mkt cap $28.86M.
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