Impressive First Round of Drill Results Exceed Expectations
Leeuwin Metals Ltd (ASX: LM1) has announced outstanding drilling results from its maiden 2,000-metre reverse circulation (RC) drilling program at the Marda Gold Project in Western Australia. The program has returned multiple shallow, thick, high-grade gold intercepts that confirm significant mineralisation at the Marda Central prospect.
The drilling results from Leeuwin Metals Ltd have exceeded initial expectations, extending known mineralisation below existing open pits and demonstrating continuity at depth. These initial findings validate the company's geological thesis regarding the significant exploration potential at the project.
Standout intercepts from the recent drilling include:
- 16m @ 2g/t Au from 134m & 8m @ 3.04g/t Au from 215m (MGRC0006)
- 22m @ 1.25g/t Au from 123m, including 3m @ 6.3g/t Au from 123m (MGRC0004)
- 21m @ 1.09g/t Au from 98m & 9m @ 2.46g/t Au from 190m (MGRC0005)
- 2m @ 5.45g/t Au from 77m (MGRC0003)
Christopher Piggott, Leeuwin's Executive Chairman, commented on the significance of these results: "This is an outstanding start to drilling at Marda. The results confirm our view that the mineralisation at Marda Central continues beyond the shallow open pit, demonstrating the depth and strike potential of the system."
Accelerated Follow-Up Drilling Program
Based on these encouraging initial drilling results from Leeuwin Metals Ltd, the company has decided to expedite its Phase 2 drilling program, which is now scheduled to commence in late May. The upcoming phase will target down-dip and strike extensions of the recently identified high-grade intercepts along the banded iron formation (BIF) hosted trend.
This strategic approach allows Leeuwin to maintain exploration momentum while systematically building geological confidence across the broader project area. The accelerated timeline highlights management's confidence in the project's potential following the successful maiden drilling campaign.
Understanding Banded Iron Formation (BIF) Gold Deposits
The gold mineralisation at Marda is primarily hosted in banded iron formations (BIFs), which are distinctive sedimentary rock units composed of alternating layers of iron-rich minerals and silica.
BIF-hosted gold deposits represent a significant category of gold mineralisation in Western Australia and often present excellent exploration targets due to their continuous nature and potential for structural controls on high-grade zones. At Marda, gold is typically associated with sulphide alteration (mainly pyrite) within brecciated BIF units, sometimes with quartz veining.
These geological characteristics create favourable settings for substantial gold accumulation, particularly where structural features such as shear zones intersect the BIF units. The recent drilling results from Leeuwin Metals Ltd confirm this geological model, with mineralisation identified in both upper and lower BIF units at Marda Central.
| BIF Gold Deposit Characteristics | Marda Project Features |
|---|---|
| Host Rock | Banded iron formation with alternating silica-iron layers |
| Gold Association | Primarily with sulphide (pyrite) alteration |
| Structural Controls | Shear zones and folding affecting BIF units |
| Mineralisation Style | Both disseminated and structurally concentrated |
| Exploration Indicators | Sulphide alteration, brecciation, quartz veining |
Strategic Position in a Proven Gold District
The Marda Gold Project spans a 70km greenstone corridor and includes mining, exploration, and prospecting licences. The project has a rich history, with gold first discovered in 1901 and intermittent mining conducted since then.
From 2019 to 2023, Ramelius Resources mined several shallow open pits at Marda, producing 2.3 million tonnes at 1.9g/t Au for 143,000 ounces of gold. This historical production demonstrates the area's proven gold endowment and provides confidence in the potential for additional discoveries.
Leeuwin's project benefits from:
- An extensive exploration dataset with over 350,000m of historical drilling
- Granted mining leases and a broader strategic project positioning
- Proximity to existing infrastructure and investment supporting efficient operations
- Multiple prospective targets across the property portfolio
The Marda Gold Project is situated within the Youanmi Terrane, part of the Marda-Diemals Greenstone Belt, which is known to host multiple gold deposits. This geological setting has been proven productive, with the recent drilling results from Leeuwin Metals Ltd further confirming the district's prospectivity.
Comprehensive Forward Strategy
Leeuwin Metals has outlined a clear path forward to systematically unlock value across the Marda Gold Project:
- Phase 2 drilling at Marda Central – Follow-up RC drilling targeting down-dip and strike extensions to recent high-grade intercepts
- Evanston Prospect development – Drill planning for this separate prospect located ~50km north of Marda Central
- 3D geological modelling – Ongoing integration of recent and historical data to support structural interpretation
- Regional target assessment – Systematic review of additional prospects including Golden Orb and King Brown
This methodical approach ensures Leeuwin can efficiently prioritise targets while building a pipeline of exploration opportunities across its extensive land package.
"Given the strength of these results, we are accelerating the phase two drilling program to follow up results at Marda Central in the coming weeks, with planning well advanced and a drill rig secured," stated Christopher Piggott, Executive Chairman.
Why Investors Should Track Leeuwin Metals
Leeuwin Metals represents a compelling investment consideration in the gold exploration sector for several key reasons:
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Early exploration success – The maiden drilling program has already delivered multiple high-grade gold intercepts, validating the company's geological thesis
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Strategic asset portfolio – Beyond Marda, the company holds diversified assets including the West Pilbara Iron Ore Project and battery metals projects in Canada and Western Australia
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Clear path to value creation – With accelerated drilling planned and a systematic approach to target development, Leeuwin has established a clear roadmap for potential resource growth
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Experienced management team – Led by Executive Chairman Christopher Piggott, the company has expertise in project generation, discovery, development, and operations
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Strong project fundamentals – The Marda Gold Project benefits from existing infrastructure, historical production, and extensive datasets that reduce exploration risk
With gold trading near all-time highs and investor interest in quality exploration stories growing, Leeuwin Metals is positioned to capitalise on its initial drilling success with an aggressive follow-up program at Marda. The upcoming Phase 2 drilling represents a significant near-term catalyst that investors should monitor closely.
Technical Understanding: Interpreting Drill Results
When evaluating the drilling results from Leeuwin Metals Ltd, it's important to understand how to interpret the reported intercepts. The notation "16m @ 2g/t Au" represents a 16-metre section of the drill hole that averaged 2 grams of gold per tonne of rock.
The "GxM" (Grams x Metres) value is also an important metric for comparing drill results. This calculation multiplies the grade (g/t) by the interval length (metres) to give a single number that combines both factors. Higher GxM values generally indicate more significant mineralisation. For example, the intercept of 16m @ 2g/t Au has a GxM value of 32, which is considered significant in exploration terms.
| Hole ID | Intercept | GxM Value | Significance |
|---|---|---|---|
| MGRC0006 | 16m @ 2g/t Au | 32 | High |
| MGRC0004 | 22m @ 1.25g/t Au | 27.5 | High |
| MGRC0005 | 21m @ 1.09g/t Au | 22.89 | Moderate-High |
| MGRC0006 | 8m @ 3.04g/t Au | 24.32 | High |
| MGRC0003 | 2m @ 5.45g/t Au | 10.9 | Moderate (high grade but narrow) |
These metrics help investors and analysts gauge the potential economic significance of exploration results, though additional factors such as depth, continuity, and metallurgical characteristics will ultimately determine the economic viability of any deposit.
Project Timeline and Upcoming Catalysts
Following the success of the initial drilling at Marda Central, Leeuwin Metals has established a timeline for advancing the project:
- Late May 2025: Commencement of Phase 2 drilling program at Marda Central
- Mid-2025: Expected results from Phase 2 drilling
- H2 2025: Potential evaluation of Evanston Prospect with additional drilling
- Ongoing: 3D geological modelling and new gold targets assessment
These catalysts provide multiple opportunities for market updates and potential project funding and development as Leeuwin continues to advance the Marda Gold Project through systematic exploration.
The positive drilling results from Leeuwin Metals Ltd at Marda Central represent an encouraging first step in what could potentially develop into a significant gold exploration story, supported by strong geological fundamentals and an experienced management team.
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