Leeuwin Metals (ASX:LM1) sharpens Marda gold play with deeper hits and fresh targets

Resource investors looking for leverage to gold exploration upside might do well to keep a closer eye on Leeuwin Metals (ASX:LM1), which is quietly proving up the scale of its Marda Gold Project in Western Australia.

In its second drilling campaign at the project’s Python prospect, Leeuwin has returned several thick, high-grade intercepts including 5 metres at 5.0g/t gold from 229 metres, with a standout 1 metre at 10.0g/t.

These results extend known mineralisation beneath the existing open pit and reinforce the broader Marda Central area as a priority exploration hub.

Highlights from the latest program include:

• 23m at 1.29g/t Au from 207m, including 10m at 2.3g/t (MGRC0027)

• 9m at 1.15g/t Au from 193m (MGRC0023)

• Continuity of mineralisation now demonstrated across a 200m by 200m footprint at depth

• More than 120 rock chip assays pending across 11 newly identified targets

• Maiden Mineral Resource Estimate on track for Q3 2025

What’s particularly noteworthy is that these new intersections come alongside emerging surface targets.

Recent mapping at Marda Central has uncovered 11 mineralised corridors with visible historical workings over 500 metres of strike.

These zones are yet to be tested by modern drilling and may reflect a different, potentially high-grade mineralisation style than previously understood.

“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, with the assays reported today to support a subsequent update later this calendar year,” said Executive Chairman Christopher Piggott.

The Company is also advancing plans to drill the Evanston prospect, where shallow high-grade gold was historically mined.

RC drilling is expected to begin in mid-August, aiming to follow up on historic intercepts and build geological confidence across the broader system.

“Surface exploration has also expanded, with mapping and sampling identifying multiple historical workings that may represent a previously untested style of mineralisation,” Piggott added.

Leeuwin Metals endgame is clear: to define a meaningful gold resource on a granted mining lease, in proximity to infrastructure and within a system that has already produced over 140,000 ounces in recent years.

With more assays due and new drilling around the corner, Marda is shaping up as a robust near-term development opportunity with clear blue-sky potential.

Early signs of a resource with room to grow

Leeuwin’s continued success at depth, combined with the discovery of new tsarget corridors, points to a system with both scale and optionality.

For investors seeking early exposure to a potential WA gold revival story, particularly one with near-term resource definition and historic production credentials, Marda is worth watching closely

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