USD $4,136.96
Goldman The conceptual target sits outside Marda’s 378,600-ounce resource and spans six deposits.
Leeuwin Metals Ltd (ASX:LM1) has defined an Exploration Target outside the existing Mineral Resource at its Marda Gold Project in Western Australia.
The target covers the Die Hardy, Red Legs, Red Boomerang, Goldstream, Taipan and Golden Orb deposits. Leeuwin said the work provides a framework for extensional and infill drilling across areas that remain open or under-drilled.
- 4.3 million to 6.6 million tonnes in the Exploration Target
- 0.9g/t to 1.0g/t gold target grade range
- Approximately 142,000 to 186,000 ounces of gold
- Existing Mineral Resource of 11.4 million tonnes at 1.03g/t gold for 378,600 ounces
The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The Exploration Target has been prepared and reported in accordance with Clause 17 of the JORC Code (2012).
Subject to funding and approvals, Leeuwin plans about 10,000 metres of reverse-circulation extensional and infill drilling in the fourth quarter of 2026, with updated geological models targeted for the second quarter of 2027. Environmental studies are under way and mine planning is also due to begin.
Leeuwin Metals executive chairman Christopher Piggott:
The definition of this maiden Exploration Target, on top of our 378,600 oz Mineral Resource, shows just how much more the Marda gold system has to give.
It provides a clear, conceptual pathway to grow the Project well beyond its current Resource base across six deposits that remain open and under-drilled, and it sits alongside a Resource that we have already grown to 378,600 oz. With today’s Exploration Target, we see a pathway to the critical milestone of plus 500koz in time and demonstrates the strategic value of the project. There remain several areas within the project that are yet to be further explored with more growth across the project expected.
