Leeuwin Metals Commences Drilling at Marda Gold Project, Targeting High-Grade Zones Across Historic Sites

Highlights

• Drilling underway at Marda Central as part of a broader 10,000-metre exploration plan
• Four priority zones identified across a 500km² tenement package in Western Australia's Goldfields
• Historic data review to refine targets and unlock untapped mineral potential through 2025

Leeuwin Metals Ltd (ASX:LM1) has initiated its maiden drilling campaign at the 100%-owned Marda Gold Project in Western Australia, marking a significant step in advancing its exploration strategy across a vast, historically productive tenement. The initial program focuses on reverse circulation (RC) drilling totalling approximately 2,000 metres and is strategically designed to test extensions of known shallow, high-grade gold mineralisation at the Marda Central prospect. This early-phase work is being conducted adjacent to previously mined open pits, and it represents the first component of a broader 10,000-metre drilling plan set to unfold throughout 2025.

The Marda Gold Project is situated in the northern Goldfields region of Western Australia, about 120 kilometres north of Southern Cross. Spanning more than 500 square kilometres of granted mining, exploration, and prospecting licences, the project includes eight historical open pits, a diverse array of exploration targets, and a series of underexplored greenfield zones. Leeuwin Metals Ltd is focused on leveraging this scale to explore near-mine prospects and define new mineralised systems across the tenement package.

The current program is part of a multi-stage strategy aimed at delineating gold-bearing structures with economic potential. Initial drilling will centre around the Marda Central zone, which is regarded as a high-priority target based on previous drilling results and its proximity to historic mining activity. This early work aims to validate historical findings and provide a framework for further expansion as part of the larger 2025 program.

Leeuwin Metals Ltd is concurrently finalising an extensive review of historical exploration data, with the goal of refining known targets and identifying new mineralised zones across the project area. This comprehensive evaluation is scheduled for completion by April 2025, and the findings will be instrumental in shaping the direction and scope of future drilling. The integration of this historical data with current geological interpretations is expected to increase the efficiency and effectiveness of exploration activities.

Four core areas have been outlined for focused work in the near term: Marda Central, Marda North, Marda South, and Marda West. These zones host multiple prospects with varying levels of prior exploration, ranging from defined mineralised trends near historic workings to untested geochemical anomalies and conceptual targets. While the more advanced prospects are set to be prioritised early in the campaign, the broader approach retains flexibility to adapt to new discoveries as the program progresses.

The project's location within a well-established mining district provides it with a strategic advantage. The Marda Gold Project benefits from sealed road access via the Evanston–Bullfinch Road, in addition to a network of gravel and historical haul roads, enhancing internal mobility. This logistical infrastructure, combined with its proximity to processing facilities and regional hubs such as Southern Cross, supports a variety of development scenarios.

Leeuwin Metals Ltd is well capitalised to execute its exploration agenda at Marda, with the combination of landholding scale, geological potential, and established infrastructure positioning the project as a cornerstone of its asset portfolio. The 2025 exploration program will focus on building resource definition across key zones while unlocking new value across this expansive and largely underexplored gold system.