Leeuwin Metals Confirms High-Grade Gold at Marda as Spotlight Returns to LM1

Leeuwin Metals (ASX: LM1) has unveiled a compelling update for investors, confirming high-grade gold potential at its Marda gold project in Western Australia.

In a statement to the ASX, the Perth-based explorer said its geological review of more than 2,800 drill holes has validated historic data, reaffirming the potential for shallow, high-grade gold mineralization across multiple prospects, including Golden Frog, Dolly Pot, Dugite, and Newcrest South. Some highlights include:

• 62m @ 1.94 g/t Au from 102m (MRC292),

• 48m @ 1.95 g/t Au from 94m (MRC346),

• 20m @ 3.14 g/t Au from 75m (DURC016), and

• 12m @ 3.48 g/t Au from 24m. 

Leeuwin Executive Chairman, Christopher Piggott framed the findings as a compelling foundation for exploration. "The results show there is extensive mineralisation outside the mined areas, including high-grade zones, and highlight the potential to create value by extending this mineralisation, current drilling is targeting extensions of this mineralisation."

He also went on to say that additional work will be undertaken over other brownfields sites, "given the success of this review, we will now conduct similar assessments of other key areas at Marda, including Evanston, Golden Ord and King Brown with the expectation there will be additional brownfield targets identified."

Leeuwin acquired the Marda project from Ramelius Resources in December 2023 for A$2.5 million in cash and shares, seizing an opportunity to diversify into gold while maintaining upside exposure to battery metals.

The Marda project lies within the prolific Southern Cross greenstone belt, a historically productive region with over 10 million ounces of gold extracted to date. While Marda has seen intermittent exploration over the past few decades, Lunnon’s review is the first cohesive analysis of legacy data since the early 2000s.

Leeuwin’s strategy now involves integrating this data into modern geological models and initiating infill drilling to confirm continuity and grade. A resource estimate is expected in the second half of 2025.

Leeuwin has emphasized that the project comes with granted mining leases and is free of third-party royalties — a significant cost advantage if mine development advances.

While no production timeline has been set, the company hinted that a fast-tracked pathway to near-term mining is feasible. Confidence stems from the presence of existing infrastructure, granted mining approvals, and the shallow nature of the mineralisation, which together reduce both permitting hurdles and upfront capital requirements.