Leeuwin Metals Identifies Gold Targets across Marda Regional Prospects

Leeuwin Metals (ASX: LM1) has identified multiple significant historical gold intercepts at the Red Boomerang and Deception Hill prospects within its Marda gold project in Western Australia.

The company unearthed the intercepts, which sit outside the current Marda mineral resource, through regional targeting work designed to build a broader discovery pipeline across the project area.

Leeuwin has started field work at regional targets, submitted programs of work, and expects to drill Red Boomerang in the second half of 2026.

The company also has 55 recently completed drill holes awaiting assays and a resource upgrade underway across Golden Orb, Evanston, and Marda Central.

Regional Targets Add Upside

Marda currently hosts a global mineral resource of 10.2 million tonnes at 1.05 grams per tonne gold for 342,300 ounces, which includes an Indicated component of 2.1Mt at 1.10g/t gold for 73,800oz and an Inferred component of 8.1Mt at 1.03g/t gold for 268,500oz.

Leeuwin’s targeting work has identified new opportunities beyond the existing granted mining leases and outside the current resource base.

The company is reviewing its large historical database as part of a systematic exploration strategy focused on advancing earlier-stage targets and making new discoveries.

Historical drilling at Red Boomerang returned several high-priority intercepts, including 24m at 1.79g/t gold from surface with 15m at 2.72g/t gold from 8m.

Deception Hill results included 10m at 2.41g/t gold from 50m with 1m at 15g/t gold from 51m, confirming the second regional prospect as part of the broader follow-up pipeline.

Meaningful Ounces Added

Executive chair Christopher Piggott said Marda continued to generate targets across the project area.

“Alongside these significant historical intercepts at Red Boomerang and Deception Hill, our regional targeting work has identified high-priority drill targets that can add meaningful ounces to the 342,300oz resource base at Marda,” Mr Piggott said.

“The historical results at Red Boomerang and Deception Hill are highly encouraging, and they reinforce our view that Marda has significant exploration potential.”

“In addition to the large historical database, we have 55 holes from our recent Leeuwin drilling with assays pending, and a resource upgrade underway across Golden Orb, Evanston and Marda Central.”

Drilling and Resource Work

Leeuwin’s next phase of work will focus on discovery and resource growth across multiple targets within the broader Marda project.

The pending assays relate to recent drilling testing new down-dip extensions across Golden Orb, Marda Central, and high-grade workings trends.

The company is targeting updated resources in the second half of 2026 while continuing to review existing data and models across Marda.

Leeuwin is also progressing mine permitting and design work, while separate strategic reviews continue for the Cross Lake lithium project and William Lake nickel-platinum group elements project.