USD $4,127.96
Goldman Strategic acquisition includes extensive mineralisation and strong exploration potential
Leeuwin Metals Ltd (ASX: LM1) has announced the acquisition of 100% of Marda Operations Pty Ltd, a subsidiary of Ramelius Resources Limited (ASX: RMS). The acquisition includes the highly prospective Marda Gold Project, located in Western Australia’s renowned Goldfields region.
The Marda Gold Project spans over 500km² of mining, exploration, and prospecting leases, situated 120km north of Southern Cross. The project features eight open pits, significant historical workings, and multiple high-priority exploration targets.
Notable historical drill results include:
- 2m at 16.75g/t Au from 12m (NRC043) – Evanston
- 8m at 5.76g/t Au from 8m (ERC147) – Evanston
- 1m at 27.75g/t Au from 31m (MARI11) – Taipan
Executive Chairman Christopher Piggott shared insights on the acquisition:
The acquisition of the Marda Gold Project is a pivotal step for Leeuwin Metals, delivering significant value with minimal dilution to shareholders. This advanced gold project in Western Australia provides an exciting growth platform with substantial exploration potential.
Marda hosts extensive known mineralisation in and around existing pits. This mineralisation is open and represents low-hanging fruit for our initial exploration campaign. There are also numerous drilling targets which have been defined by geophysics and limited drilling. There is immense upside at these targets which we will prioritise as part of our resource growth strategy. The project’s strategic location, within trucking distance of multiple gold mills and supported by excellent infrastructure, further enhances its viability.
With granted mining leases included in the acquisition, Leeuwin is well-positioned to rapidly progress discoveries into development. We are excited to commence work programs and look forward to sharing updates as we advance this opportunity into 2025.
