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Highlights
- - Leeuwin Metals (LM1) expands its portfolio with Marda gold project acquisition.
- - The project includes eight open pits and multiple high-priority exploration targets.
- - Strategic location supports rapid exploration and development efforts.
Leeuwin Metals (ASX:LM1) has announced the acquisition of the Marda gold project in Western Australia through a binding agreement with Ramelius Resources (ASX:RMS). This strategic move marks a significant milestone in Leeuwin’s growth trajectory as it expands its foothold in a prolific gold-mining region.
Located approximately 120 kilometers north of Southern Cross, the Marda project covers 500 square kilometers of mining, exploration, and prospecting leases. The site includes eight open pits and various historical workings, underscoring its exploration potential with numerous high-priority targets identified for follow-up activity.
Strategic Move in the Gold Sector
The acquisition aligns with Leeuwin Metals' strategy to strengthen its portfolio by incorporating high-potential gold assets. Executive Chair Christopher Piggott emphasized the transformative nature of the deal, describing it as a pivotal step for the company. “The Marda gold project provides extensive mineralization opportunities in and around existing pits, offering a solid foundation for our initial exploration campaigns,” he said. The project’s existing mineralization remains open, which the company views as a critical advantage for further exploration.
High-Grade Exploration Focus
Leeuwin plans to prioritize underexplored high-grade areas within the project. Historically, exploration activities at Marda have focused on near-mine zones, leaving significant potential untapped. The project’s strategic location near multiple gold mills, along with existing mining leases and robust infrastructure, positions Leeuwin for rapid advancement. The company intends to commence exploration immediately, targeting key high-priority zones to uncover additional resources.
Transaction Details and Strategic Value
The deal includes an upfront payment of $500,000 in Leeuwin shares, alongside milestone payments tied to future resource discoveries. Ramelius Resources will become a strategic shareholder in Leeuwin Metals, fostering collaboration opportunities moving forward.
Beyond gold, the Marda project also presents prospects for iron ore exploration, complementing Leeuwin’s existing focus on critical metals. This acquisition reinforces the company’s commitment to building a diversified resource portfolio within mining-friendly jurisdictions.
Leeuwin Metals (LM1) is poised to make rapid advancements at Marda, with plans already underway to explore and unlock the site’s potential. The company’s forward momentum signals an exciting chapter as it integrates the Marda project into its broader operational strategy.
