Leeuwin Metals (ASX:LM1) grows Marda Gold Resource to 378,600oz as Evanston ounces increase
Leeuwin Metals has announced an updated Mineral Resource Estimate for its Marda Gold Project in Western Australia, with the global resource increasing to 378,600oz.
The updated estimate includes an increased Mineral Resource at Evanston, with the company reporting an increase in total ounces, Indicated ounces and ounces at a 0.8 g/t Au high-grade cut-off.
The company has also outlined further exploration, environmental studies and mine planning activities across the project.
Highlights
Global Mineral Resource Estimate for the Marda Gold Project increased to 11.4 Mt @ 1.03 g/t Au for 378,600oz, reported above a 0.30 g/t Au cut-off grade.
The updated resource comprises 3.1 Mt @ 1.04 g/t Au for 104,000oz of Indicated Mineral Resources and 8.3 Mt @ 1.03 g/t Au for 274,600oz of Inferred Mineral Resources.
Evanston has an updated Mineral Resource Estimate of 5.4 Mt @ 0.96 g/t Au for 165,500oz, including a higher-grade component of 2.4 Mt @ 1.49 g/t Au for 115,400oz above a 0.80 g/t Au cut-off grade.
All reported ounces are located on Mining Leases, with further resource and exploration growth planned across Golden Orb, Deception Hill and Mt King.
Development work programs are commencing, including environmental studies in August and mine planning under a dual-track standalone and third-party milling strategy.
The updated Marda Gold Project Mineral Resource Estimate follows the maiden resource announced in December 2025.
Leeuwin reported an increase of 22% in total ounces, an increase of 53% in Indicated ounces and an increase of 20% in ounces at a 0.8 g/t Au high-grade cut-off at Evanston.
Evanston is located within the northern portion of the Marda Gold Project and hosts sulphide-associated stratiform gold mineralisation in laminated cherts within a broader folded sequence.
The mineralised system extends approximately 1.6 km along a shallow south-west-plunging anticline, with flat-lying lenses remaining open along strike and at depth.
The July 2026 Evanston Mineral Resource Estimate includes data from an additional 69 drillholes completed in 2026.
The drilling program focused on reducing drill spacing and improving geological interpretation, with the company stating that the work enhanced understanding of mineralisation controls, continuity and grade distribution within the flat-lying mineralised domains.
Across the broader Marda Gold Project, Mineral Resources have been reported across Marda North, Marda Central and South Golden Orb.
Marda Central has a combined Mineral Resource of 94,400oz @ 1.25 g/t Au, comprising Indicated Mineral Resources of 0.65 Mt @ 1.37 g/t Au for 28,500oz and Inferred Mineral Resources of 1.7 Mt @ 1.20 g/t Au for 65,900oz.
Marda Central covers a 3 km trend with four existing open pits situated on granted Mining Leases, with mineralisation hosted within banded iron formations and quartz veining with sulphide associations, comprising a series of steeply dipping structurally controlled gold deposits.
Leeuwin Executive Chairman Christopher Piggott said the updated resource followed further work at the project.
“To grow our global resource to 378,600oz, and to lift Evanston by 22% in total ounces and 53% in Indicated ounces, only six months from our Maiden Resource, demonstrates the strength of the mineralised system at Marda and the ongoing prospectivity of the Project, and we are just getting started.”
Leeuwin has outlined further activities across the Marda Gold Project, including continued review of existing data and models to support further Mineral Resource growth, prospect reviews to define structurally prospective corridors, environmental studies commencing in August, and mine designs and planning.
The company will assess both a standalone operation and a third-party milling scenario.
The company has identified Golden Orb, Deception Hill and Mt King as areas for further resource and exploration growth, with development work programs commencing alongside environmental studies and mine planning activities.