Leeuwin Metals Ltd (ASX: LM1) has announced a significant expansion of its mineral resource at the Marda Gold Project in Western Australia. The company’s updated global mineral resource estimate now stands at 378,600 ounces of gold, representing a solid step forward just six months after the project’s maiden resource estimate was established in December 2025.

The growth is largely driven by the Evanston deposit, which saw a 22% increase in total ounces to reach 165,500 ounces. Even more notable is the improvement in geological confidence at the site; Indicated category ounces at Evanston rose by 53%, growing from 49,286 ounces in December to 75,400 ounces in the current July 2026 update. Across the entire project, the total volume of Indicated ounces increased by 41%, providing a more reliable foundation for the upcoming project development phase.

"To grow our global resource to 378,600oz, and to lift Evanston by 22% in total ounces and 53% in Indicated ounces, only six months from our Maiden Resource, demonstrates the strength of the mineralised system at Marda and the ongoing prospectivity of the Project, and we are just getting started."

"Importantly, all of our Mineral Resources sit on granted Mining Leases, providing a strong platform for the development studies and permitting we are now commencing."

— Christopher Piggott, Executive Chairman

With the resource base expanded, Leeuwin is now shifting its operational focus toward project development. The company has confirmed that environmental studies are scheduled to begin in August 2026. This work is intended to support the next stages of technical evaluation for the property. Management is actively pursuing a dual-track development strategy, with current mine planning and design work examining the viability of both a standalone operation and the potential for a third-party milling arrangement.

The Evanston deposit remains a central pillar of the company’s exploration efforts, with recent drilling—incorporating data from 69 additional holes—having successfully defined higher-grade components within the resource. The mineralisation there, hosted in laminated cherts, extends for approximately 1.6 kilometers and remains open, suggesting further upside potential. Leeuwin has indicated that exploration teams will continue to target additional growth at nearby prospects, including Golden Orb, Deception Hill, and Mt King, throughout the coming year.

By concentrating these activities on granted mining leases, the explorer aims to streamline the regulatory pathway as it advances toward potential production. The latest resource model incorporates a diverse range of data, including diamond and reverse circulation drilling, ensuring that the updated figures reflect a deeper understanding of the structural controls across the Marda trend. As the company transitions from a discovery-focused mandate to a development-oriented posture, these ongoing technical and environmental programs are expected to be the primary drivers for the project over the next twelve months.

Read the full announcement: Marda Gold Resource grows to 378,600oz, Indicated up 41%