MARDA RESOURCE JUMPS 41% AS EVANSTON DELIVERS STRONG GROWTH

Leeuwin Metals lifts the Marda Gold Project Mineral Resource to 378,600 ounces, with further exploration and development work planned across multiple targets.

Leeuwin Metals Ltd (ASX:LM1) has upgraded the Mineral Resource Estimate (MRE) for its Marda Gold Project in Western Australia to 11.4 million tonnes at 1.03g/t gold for 378,600 ounces, representing a 41% increase in Indicated ounces. All reported Mineral Resources are located on granted Mining Leases.

The updated resource includes Indicated Mineral Resources of 3.1Mt at 1.04g/t Au for 104,000 ounces and Inferred Mineral Resources of 8.3Mt at 1.03g/t Au for 274,600 ounces, using a 0.30g/t gold cut-off grade.

The Evanston deposit also recorded a resource increase, with the updated MRE now standing at 5.4Mt at 0.96g/t Au for 165,500 ounces, including a higher-grade component of 2.4Mt at 1.49g/t Au for 115,400 ounces above a 0.80g/t gold cut-off grade.

Key resource highlights include:

Global MRE: 11.4Mt @ 1.03g/t Au for 378,600oz, including 104,000oz Indicated and 274,600oz Inferred.
Evanston MRE: 5.4Mt @ 0.96g/t Au for 165,500oz, with a higher-grade 2.4Mt @ 1.49g/t Au for 115,400oz.
Indicated Mineral Resources at Evanston: 2.5Mt @ 0.95g/t Au for 75,400oz.

The company said further resource growth and exploration drilling will focus on the Golden Orb, Deception Hill and Mt King targets over the coming months. Environmental studies are scheduled to begin in August, alongside mine planning under a dual-track strategy assessing both standalone development and third-party milling options.

Leeuwin Executive Chairman, Christopher Piggott, said:

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. Importantly, all of our Mineral Resources sit on granted Mining Leases, providing a strong platform for the development studies and permitting we are now commencing.

The resource at Evanston now stands at 165,500oz with a higher-grade component of 115,400oz @ 1.49g/t Au. This will remain a key focus of our exploration through 2026. Growth across Marda is now focused at Golden Orb, Deception Hill and Mt King. The more we grow the Resource, the more value we create for shareholders.