Leeuwin Metals Ltd has defined a maiden exploration target of 4.3 million to 6.6 million tonnes grading between 0.9 g/t and 1.0 g/t gold, representing approximately 142,000 to 186,000 ounces of gold at the Marda Gold Project in Western Australia.

The new target sits outside the project's existing mineral resource estimate of 11.4 million tonnes at 1.03 g/t gold for 378,600 ounces. The conceptual inventory spans six separate deposits across the northern, central, and southern portions of the tenement package: Die Hardy, Red Legs, Red Boomerang, Goldstream, Taipan, and Golden Orb.

Leeuwin added the Western Australian asset to its portfolio in 2025 as a cornerstone gold project. The company subsequently entered into a memorandum of understanding in June 2026 with Bain Global Resources and MEGA Resources to evaluate joint development, mining, processing, and funding pathways for the operation under a dual-track strategy assessing both a standalone plant and third-party milling options. Environmental studies are currently underway alongside ongoing mine planning.

To test the maiden exploration target, Leeuwin plans to execute an approximately 10,000-metre reverse circulation extensional and infill drilling program. Drilling across the six identified deposits is scheduled to begin in the fourth quarter of 2026, with the program and updated geological models slated for completion by the second quarter of 2027, subject to funding and regulatory approvals.

“The definition of this maiden Exploration Target, on top of our 378,600 oz Mineral Resource, shows just how much more the Marda gold system has to give.”

“It provides a clear, conceptual pathway to grow the Project well beyond its current Resource base across six deposits that remain open and under-drilled, and it sits alongside a Resource that we have already grown to 378,600 oz. With today's Exploration Target, we see a pathway to the critical milestone of plus 500koz in time and demonstrates the strategic value of the project. There remain several areas within the project that are yet to be further explored with more growth expected.”

— Christopher Piggott, Executive Chairman

The upcoming 10,000-metre drill program forms a key part of Leeuwin's broader strategy to expand the project's resource base and advance development studies at Marda.

Read the full announcement: Marda Exploration Target Defined Outside Current Resource