Leeuwin Metals (ASX:LM1) delivers high grade gold at Evanston, setting the stage for maiden Marda Resource

Leeuwin Metals Ltd (ASX:LM1) has released the first batch of assays from its maiden drilling program at the Evanston Prospect, part of the Marda Gold Project in Western Australia.

The results have confirmed multiple shallow high grade gold intersections, supported by the company’s first Down Hole Electromagnetic survey at Evanston in more than two decades.

With 31 assays still pending and follow up drilling already planned, these results suggest Evanston has the potential to become a significant new discovery within the broader project.

To address key investor questions, Executive Chairman Christopher Piggott provided insight into what the results mean for the project, the role of geophysics, and how Evanston fits into the company’s growth strategy

What do the first drilling results at Evanston tell us about the project’s potential?

The first drill program has delivered outstanding results, including 9 metres at 5.23 grams per tonne gold from 57 metres, with 4 metres at 10.68 grams per tonne from 60 metres, as well as 8 metres at 6.05 grams per tonne from just 12 metres depth.

These intercepts confirm the presence of high grade mineralisation close to surface and validate historical data that pointed to strong potential in this area.

The mineralisation remains open both along strike and down dip, meaning that extensions are likely.

This was the first large scale drilling program undertaken at Evanston in more than 20 years, and it has demonstrated that the system could host considerable scale.

“These exceptional results reveal Evanston is a significant opportunity, with multiple zones grading above 5 g/t gold and could emerge as a significant discovery.”

How important is the Down Hole Electromagnetic survey in shaping the next phase of exploration?

The introduction of Down Hole Electromagnetic surveying has already proved valuable, with the first survey identifying a new conductor that highlights the potential for repeating structures at depth.

This is important because it suggests that mineralisation may continue beyond the first intercepts, and when combined with drilling data it allows the company to refine targets with greater accuracy.

“Recent DHEM indicates the potential for repeating structures at depth further highlighting the significant exploration upside”.

An expanded DHEM program is underway, and it will enhance the geological understanding of Evanston while guiding future drill programs across the prospect.

What is the timeline for the outstanding assays and how will they influence the project?

Assays are still pending for 31 drill holes, and these are expected to be received in the coming weeks.

The additional results will provide a much broader dataset to interpret the mineralised system, enabling the company to refine the geological model and better understand continuity of mineralisation.

The pending assays will also shape the follow up drilling campaign scheduled for later this quarter and feed directly into the maiden mineral resource estimate for the Marda Gold Project, which is anticipated before the end of the year.

How does Evanston fit into the broader Marda Gold Project strategy?

Evanston is one of several high priority prospects within the Marda Gold Project, which benefits from granted mining leases and close proximity to existing infrastructure.

The strategy for Marda is to systematically expand mineralisation along key structural corridors while reviewing additional prospects to build a pipeline of new targets.

The results from Evanston, combined with the pending assays and DHEM data, will contribute directly to the resource evaluation work that is already underway and strengthen the foundation for the maiden resource estimate.

What are the immediate next steps following this first round of results?

The company will now complete the current program of assay reporting, finalise DHEM work and move into follow up drilling at Evanston during this quarter

In parallel, resource modelling across the wider Marda Project is progressing, with the aim of publishing a maiden resource estimate before year end.

The company is also assessing other targets across the tenement package to identify structurally prospective corridors and ensure a sustainable pipeline of exploration opportunities.

“With assays pending for a further 31 holes, and drilling will resume at Evanston later this quarter. All these results, along with the strong assays already received from drilling at other targets, will feed into the maiden resource for the Marda Gold Project.”

This combination of pending results, resource modelling and new drill planning ensures that the company is positioned to deliver strong news flow and exploration progress across the coming months.

Outlook from the Executive Chairman

The results at Evanston represent a pivotal milestone for Leeuwin Metals as the company continues to advance the Marda Gold Project.

With strong assays already received, a substantial number of pending results, and the use of modern geophysical techniques to refine targeting, Leeuwin is positioned to maintain momentum throughout the remainder of the year.

As Christopher Piggott, highlighted, the focus is on advancing exploration efficiently while building a foundation for long term growth.

The upcoming maiden resource estimate will provide an important benchmark for the project, ensuring shareholders can see both the near term progress and the long term discovery potential of the Marda Gold Project.

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