Leeuwin Metals (ASX:LM1) expands gold footprint at Marda with high-grade intercepts and new targets

MarketOpen sat down with Christopher Piggott, Executive Chairman of Leeuwin Metals (ASX:LM1), to discuss the company’s latest drilling results and exploration activity at the Marda Gold Project in Western Australia.

With strong assay results from Marda Central, a maiden Mineral Resource Estimate due this quarter, 11 new mineralised corridors identified through recent fieldwork and drilling at the Evanston prospect in August, the company is accelerating its efforts to define and grow gold resources across a highly prospective tenement package.

What do the latest drill results at Marda Central tell us about the potential scale of the system?

The recent round of drilling has significantly extended known mineralisation beneath the existing open pit, returning some of the strongest results to date.

These include 5 metres at 5.0 grams per tonne gold from 229 metres downhole, with a peak intercept of 1 metre grading 10.03 grams per tonne, and 23 metres at 1.29 grams per tonne from 207 metres including 10m @ 2.3 grams per tonne.

These results support a footprint of continuous mineralisation across a 200 by 200 metre area, confirming the down-dip potential of the system.

According to Christopher Piggott,

“This is our second drilling campaign at Marda, and results continue to demonstrate strong down-dip continuity of mineralisation at Marda Central. Drilling beneath Python has identified new targets, with grades up to 10 g/t gold, highlighting the scale and potential tenor of the system.”

A diamond tail on MGRC0018 intersected a further 5 metres of sulphide-rich banded iron formation and altered zones beyond the end of the initial hole.

While assays for this section are pending, visual logs confirm the presence of mineralised structures, indicating further depth potential.

What are the implications of the 11 newly identified trends from surface mapping and historical workings?

Field mapping at Marda Central has uncovered 11 additional mineralised corridors, many of which follow north–south trending quartz veins associated with historical gold workings.

These structures cross-cut the known east–west banded iron formation-hosted mineralisation and have not previously been tested with modern exploration techniques.

Piggott explained the significance of these findings:

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

More than 120 rock chip samples have been collected across these corridors, with assay results expected in August.

The company has also commenced structural mapping to refine the orientation and continuity of these veins, which will inform future drill targeting and improve understanding of the broader system architecture. There remains scope to continue to define and expand upon known areas while still continuing to define new styles and areas that support the potential for multiple new trends.

When can investors expect the Maiden Mineral Resource Estimate for Marda, and what will it include?

Leeuwin is on track to deliver its Maiden Mineral Resource Estimate for the Marda Gold Project during the current quarter.

The estimate will incorporate previously reported drilling results, and the newly announced assays are expected to support a subsequent update later this calendar year.

“These results reinforce the scale and potential of the Marda system,” said Piggott. “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.”

The company is concurrently advancing 3D geological modelling and evaluating Marda North, with the goal of building a pipeline of resource-ready targets that could support future development within the granted mining lease.

How does the upcoming drill program at Evanston fit into Leeuwin’s broader exploration strategy?

Evanston is a key part of Leeuwin’s strategy to advance multiple gold prospects across its 500km2 of greenstone belt.

Reverse circulation drilling is scheduled to begin in mid-August, targeting shallow, high-grade zones identified in historical drilling that have not been systematically followed up for more than two decades.

Piggott noted,

“Further mapping and sampling are underway to refine drill targets at Marda Central and Evanston, with further drilling planned for August.”

The upcoming program will test for extensions to known mineralisation and integrate new structural data from ongoing fieldwork.

Combined with current modelling efforts, this will help prioritise future drill targets and guide broader resource development across the project.

Looking ahead

Leeuwin Metals is progressing multiple workstreams across the Marda Gold Project, from infill drilling and structural mapping to surface sampling and 3D modelling.

With a maiden Mineral Resource Estimate imminent, a new drill program at Evanston about to commence, and over 120 assays pending from newly identified corridors, the company is well positioned to continue unlocking value across its gold portfolio.

As exploration results continue to build, the broader Marda system is shaping up as a substantial and underexplored opportunity in Western Australia’s gold sector.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.