High-Grade Intercepts Support Resource Growth Strategy
Leeuwin Metals Ltd, also known as LM1 on the Australian Securities Exchange, has announced drilling results from its Marda Gold Project in Western Australia. The Company reported assays up to 10g/t gold from its latest drilling campaign.
The Perth-based explorer hit multiple thick, high-grade gold intersections at the Python prospect. These results expand known mineralisation and support the Company’s resource definition strategy.
Python Prospect Delivers Standout Results
The drilling program at Marda Central returned several significant intercepts. MGRC0018 delivered 5m at 5.0g/t gold from 229m to end-of-hole, including 1m at 10.0g/t gold from 231m.
MGRC0027 intersected 23m at 1.29g/t gold from 207m. This intercept included 10m at 2.3g/t gold from 207m and 16m at 0.78g/t gold from 244m.
MGRC0023 returned 9m at 1.15g/t gold from 193m. The results demonstrate continuity below the existing open pit over a 200m by 200m area.
Figure 1: Marda Central, Python Pit
Diamond Tail Extension Shows Promise
A diamond tail extension of MGRC0018 intercepted an additional 5m of sulphide-rich banded iron formation. The Company noted heavily altered zones with visual estimates pending laboratory confirmation.
Executive Chairman Christopher Piggott commented on the results. “These results reinforce the scale and potential of the Marda system. A maiden Mineral Resource Estimate is targeted for this quarter based on previously announced drilling”.
Piggott added that the assays would support a subsequent update later this calendar year. “This is our second drilling campaign at Marda, and results continue to demonstrate strong down-dip continuity of mineralisation at Marda Central”.
Figure 2: Diamond Tail of MGRC0018
New Target Areas Identified
Recent field mapping identified 11 new mineralised corridors across Marda Central. All locations host historical workings situated within the established mining licence.
The Company collected over 120 rock chip samples from these areas. Surface expressions of workings span more than 500m of strike length.
These areas follow north-south oriented quartz vein structures. The veins cross-cut known east-west trending BIF-hosted mineralisation at Marda Central.
Figure 3: Additional mineralised corridors within Marda Central
Resource Estimate and Drilling Plans
Leeuwin Metals (ASX:LM1) targets a maiden Mineral Resource Estimate for this quarter. The estimate will incorporate previously announced drilling results.
The Company plans RC drilling at Evanston to commence in mid-August. This program will target shallow, high-grade mineralisation extensions.
Structural mapping will investigate controls on gold mineralisation across existing pits. The results will inform further drill targeting and 3D geological modelling.
Project Background and Geology
The Marda Gold Project spans a 70km greenstone corridor from Evanston to Golden Orb. Gold was first discovered in 1901 with intermittent mining since that time.
Ramelius Resources mined several shallow open pits between 2019 and 2023. The operation produced 2.3Mt at 1.9g/t gold for 143,000 ounces.
The project benefits from over 350,000m of historical drilling data. This includes 230,000m of RAB/AC, 117,000m of RC, and 5,000m of diamond drilling.
Strategic Infrastructure Position
The Marda Gold Project benefits from proximity to established mining infrastructure and processing facilities. This location advantage supports efficient field operations and reduces future development costs.
The Company’s exploration team combines expertise in project generation, discovery, development, and transactions. This skilled leadership guides the systematic approach to resource definition across the broader Marda system.
Company Portfolio
Leeuwin Metals Ltd (ASX:LM1) operates a diversified mineral portfolio across Australia and Canada. The Company holds the West Pilbara Iron Ore Project, featuring high-grade iron ore leeuwin over 2.4 kilometres.
The portfolio leeuwin includes nickel, copper, PGE, and lithium leeuwin projects supporting battery metals demand. These assets provide exploration upside in critical minerals sectors.
Mineralisation occurs in banded iron formations and leeuwin quartz veining with sulphide associations. The deposits sit within the Youanmi Terrane of the Marda-Diemals Greenstone Belt.
