Leeuwin Metals (ASX:LM1) strikes gold with transformative Marda acquisition

In a bold move signalling its ambitions in the Western Australian Goldfields, Leeuwin Metals (ASX:LM1) has inked a deal to acquire the Marda Gold Project from Ramelius Resources (ASX:RMS).

This strategic acquisition not only diversifies Leeuwin Metals portfolio but also positions it at the forefront of gold exploration in one of Australia’s most prolific mining jurisdictions.

A Treasure Trove of Opportunity

The Marda Gold Project, spanning over 500 square kilometres of granted mining and exploration leases, offers more than just geological potential.

With eight open pits and a history of high-grade gold production, the project is a jewel in Leeuwin’s crown.

Historical drill results underscore its promise, with standout intercepts such as 2 metres at 16.75 g/t gold from Evanston and 1 metre at 27.75 g/t gold from Taipan.

“The acquisition of the Marda Gold Project is a pivotal step for Leeuwin Metals, delivering significant value with minimal dilution to shareholders,” said Executive Chairman Christopher Piggott.

He emphasised the project’s potential as “low-hanging fruit” for initial exploration and highlighted its strategic location near processing hubs, which ensures shorter lead times to production.

A Multi-Faceted Strategy

Leeuwin has outlined an aggressive exploration plan targeting both known mineralisation and underexplored zones.

Key priorities include extending high-grade zones at Evanston, Taipan, and Mt King. The company is also eyeing prospective trends at Marda South’s Golden Orb and Marda West’s King Brown prospects.

With a strong foundation already in place, including granted mining leases, Leeuwin can hit the ground running.

This positions the company to rapidly translate exploration success into development milestones.

Historical unmined intercepts, such as 4 metres at 14.05 g/t gold from Gold Stream and 3 metres at 22.36 g/t gold from Red Legs, bolster confidence in the project’s untapped potential.

Collaboration and Alignment

A unique aspect of this deal is Ramelius Resources role as a strategic shareholder in Leeuwin. This alignment paves the way for collaborative growth opportunities.

Additionally, Ramelius retains a right to match third-party ore processing proposals, ensuring ongoing involvement in Marda’s evolution.

Next Steps

Leeuwin is set to seek shareholder approval for the acquisition, aiming to complete the deal by March 2025.

Exploration programs are already being prioritised, with a clear focus on near-term drill targets that could redefine Marda’s resource base.

As Leeuwin Metals embarks on this transformative journey, the Marda Gold Project stands as a testament to the company’s vision of unlocking value in Australia’s rich mineral landscape.

With exploration set to accelerate, 2025 promises to be a defining year for Leeuwin and its shareholders.