Leeuwin Metals (ASX:LM1) sets early 2026 pace with high grade surface results at Marda
January 29, 2026Leeuwin Metals has opened 2026 with exploration results that reinforce the geological potential of its Marda Gold Project north of Southern Cross in Western Australia, where new high grade rock chip assays at the Mt King Prospect and ongoing drilling at Evanston point to continued resource growth and a widening pipeline of targets across a well endowed greenstone belt.
Highlights
- Multiple Mt King rock chip samples returned grades above 10g/t gold, including 39.9g/t, 25.8g/t, 19.85g/t and 13.4g/t from mullock vein material.
- Historical drilling at Mt King has previously intersected 15m at 7.47g/t from 120m and 4m at 7.27g/t from 70m.
- Reverse circulation drilling is underway at Evanston to test shallow extensions and down dip electromagnetic anomalies, with first assays expected in February 2026.
- The existing Evanston Mineral Resource stands at 135,800oz, comprising 1.5Mt at 1.0g/t for 49,200oz Indicated and 2.8Mt at 0.97g/t for 86,600oz Inferred.
- An Exploration Manager has been appointed and strategic reviews are in progress for the Cross Lake Lithium Project and the William Lake Ni PGE Project in Canada.
The Mt King results provide a surface expression of a mineral system hosted in steeply dipping banded iron formation and chert units within a mafic ultramafic sequence, where high grade quartz veins cross cut the stratigraphy and have historically delivered strong intercepts.
Recent sampling has confirmed that these structures carry coarse gold at surface, with selective mullock vein samples returning grades up to 39.9g/t, supported by a cluster of results in the 10g/t to 25.8g/t range.
The company has stated that ongoing work will focus on detailed mapping and further surface sampling, with drilling planned during 2026 to test the continuity and orientation of these high grade lodes.
At Evanston, drilling is targeting extensions of the known mineralisation along a 1.6km trend, supported by down hole electromagnetic surveys designed to identify conductive features that may reflect sulphide associated gold zones.
This work is aimed at expanding the existing Mineral Resource of 135,800oz, which forms a core component of the broader Marda inventory, and at refining the geological model ahead of future resource updates.
Executive Chairman Christopher Piggott said:
“Drilling is currently in full swing at Evanston, where we are targeting expansion of the existing Evanston Mineral Resource along the 1.6 km trend.”
The regional setting underpins this strategy, with the Marda Gold Project described as an advanced exploration asset located on granted mining leases with mining, exploration and prospecting licences, and positioned close to existing infrastructure that supports efficient field operations and systematic testing of multiple prospects.
Within this framework, Leeuwin is pursuing a program that combines near term resource growth at Evanston with the generation of new structurally controlled targets at Mt King and across other prospects within the project area.
From a broader corporate perspective, the appointment of an Exploration Manager is intended to drive systematic target generation and advancement across the portfolio, while strategic reviews of the Cross Lake Lithium Project and the William Lake Ni PGE Project reflect the company’s parallel focus on commodities with recognised exploration potential in Canada.
In an industry context, the Marda results illustrate how modern exploration techniques continue to add value in established Western Australian gold belts, where historical workings, structural complexity and favourable host stratigraphy can combine to deliver new high grade opportunities.
For Leeuwin Metals, the combination of high grade surface indicators at Mt King, active drilling at Evanston and a defined Mineral Resource base provides a platform for sustained exploration momentum through 2026, with the next key data point expected from the first assay results scheduled for release in February.
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