Marda Gold Project Drilling Progress: Can Leeuwin Sustain Momentum?

Building Scale at Marda

Leeuwin Metals Ltd (ASX, LM1) has reported the completion of Phase Two of its reverse circulation (RC) drilling program at the Marda Gold Project in Western Australia. This ~3,000-metre drilling campaign focused on extending high-grade gold mineralisation near the surface at the historically mined Python and Golden Orb open pits. The program is part of a broader 10,000-metre drilling plan for 2025 aimed at establishing a sizeable gold resource.

With assays from this latest phase expected within the next 3 to 6 weeks, the market awaits confirmation of the mineralisation extent and grade. The Phase Two drilling builds on encouraging results from the maiden campaign, which revealed multiple zones of high-grade gold at depth and along strike, underscoring Marda’s potential as a significant gold project.

Next Steps, Targeting Evanston and Beyond

Looking ahead, Leeuwin is preparing to commence Phase Three drilling at the Evanston target in July. This area is noted for its historical high-grade results and remains underexplored. The upcoming drilling will test the continuity and scale of mineralisation along this prospective trend, potentially adding further ounces to the project’s inventory.

Supporting these efforts, the company is advancing 3D geological modelling and structural interpretation. This work integrates recent and historical data to better understand the controls on mineralisation and to prioritise future drilling targets. Additionally, regional assessments are underway at other promising corridors such as King Brown and Golden Orb, aiming to maintain a steady pipeline of exploration opportunities.

Strategic Position and Funding

The Marda Gold Project covers over 500 square kilometres in the prolific Goldfields region of Western Australia, hosting eight historical open pits and multiple near-mine targets along a 70-kilometre greenstone belt. Leeuwin’s strategic acquisition of Marda adds a transformative asset to its portfolio, complemented by other projects including iron ore and battery metals exploration.

Importantly, Leeuwin remains well funded to execute its aggressive exploration program throughout 2025, reflecting confidence in the project’s potential to deliver near-surface ounces and build a meaningful gold resource. Executive Chairman Christopher Piggott emphasised the company’s momentum and the seamless transition between drilling phases as a key strength in advancing Marda.

Outlook

As Leeuwin Metals continues to unlock the geological potential of Marda, the market will be watching closely for assay results from Phase Two and the outcomes of the upcoming Evanston drilling. These developments will be critical in shaping the project’s resource profile and guiding future investment decisions.