The first Evanston mine assays have come in, and Leeuwin Metals likes what it sees

Leeuwin Metals (ASX:LM1) has enjoyed an “incredibly strong start” for its Evanston drilling, hauling in significant shallow gold intercepts and extending the high-grade shoot beyond the Marda mine’s existing resource.

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The first 650 metres of the Australian explorer’s planned 10,000-metre RC program returned key intercepts like 13 metres at 3.2 grams per tonne gold (from 91 metres), and 10 metres at one gram per tonne from 96 metres.

Leeuwin was also quick to highlight a particular standout from the MGRC0083 hole: Three metres at 10.05 grams per tonne gold, from 93 metres.

“These results support the potential for further resource growth,” Leeuwin’s exec chairman, Chris Piggot, said today. “The potential for a high-grade shoot to continue at depth is supported by these recent results.”

All these intercepts were spotted some 250 metres down-dip of the existing Evanston open pit. The high-grade results that came from the standout hole, 0083, successfully targeted an extension of a DHEM anomaly, which the company said confirmed how effective that technique would be moving forward at Marda.

“The company will continue to drill at Evanston and, with 10,000 metres planned, we look forward to further updates as more assays are received,” Mr Piggott said.

The Marda gold project already hosts a global resource estimate of up to 342,000 ounces of gold (indicated at 2.1Mt at 1.1g/t and inferred at 8.1Mt at 1.03g/t). Within that, Evanston specifically accounts for some 135.8Koz.

Elsewhere, the Australian explorer is also still running “strategic reviews” across its Cross Lake (lithium) and William Lake (nickel/PGE) projects.

Heading into Wednesday morning trade, LM1 is at 19.5cps.

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