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Drills are firing at Marda again, with Leeuwin Metals (ASX:LM1) restarting its exploration work in Western Australia with a 10,000-metre RC program targeting a mineralisation extension and a gold resource increase.
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“We see significant scope to keep growing Marda,” Leeuwin chairman Christopher Piggott said. “Mineralisation remains open; our EM work is pointing to potential continuation down-dip, alongside a pipeline of new targets.”
Those new targets include several shallow Marda extensions as well as down-dip electromagnetic anomalies adjacent to the current Evanston resource. Leeuwin is targeting both along-strike and down-dip extensions from the existing mineral resource, as well as testing some high-grade shoots.
The whole campaign is an “aggressive step-out” to expand the resource. Evanston currently boasts a 135,800oz gold resource, while the broader Marda project contains a total MRE ranking around 342Koz across its leases.
These hauls, as well as a wide combination of an established inventory, clear extension potential, and an outstanding location in the Southern Cross region “positions Leeuwin well for our growth strategy,” Mr Piggott declared today.
“This 10,000-metre drill program will aim to convert all that potential upside into tangible resource growth and deliver strong news flow through CY26.”
Recent drilling at Evanston specifically has picked up shallow, high-grade gold mineralisation near-surface. Reported intercepts from those campaigns through CY25 included seven metres at 3.55g/t gold (from 17 metres), nine metres at 5.23g/t (from 57m), and 11 metres at 3.12g/t gold (from 85m).
Evanston also hosts sulphide-associated stratiform gold mineralisation within laminated cherts, Leeuwin has confirmed, making DHEM an effective target tool. That system runs some 1.6km along a shallow south-west plunge.
Through Monday morning, LM1 has been +6.7%, at 16cps.
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