en.Wedoany.com Reported - Australia's Leeuwin Metals (ASX:LM1) has discovered high-grade gold mineralization at the Red Boomerang and Deception Hill prospects within the Marda Gold Project, both targets located outside the existing resource boundary of 342,300 ounces.
These prospects expand Leeuwin's growing target inventory as the company works to broaden its resource base and advance future development plans. Historical drilling results show: 24 meters at 1.79 g/t gold from surface (including 15 meters at 2.72 g/t from 8 meters), and 12 meters at 4.33 g/t from 64 meters (including 1 meter at 26.4 g/t).
Other notable intercepts include: 66 meters at 1.12 g/t from 13 meters (including 18 meters at 2.32 g/t), and 10 meters at 2.41 g/t from 50 meters (including 1 meter at 15 g/t).
Executive Chairman Christopher Piggott stated that the historical drilling results reinforce the company's assessment of Marda's potential exploration upside.
"The historical results at Red Boomerang and Deception Hill are very encouraging and reinforce our view that Marda has significant exploration potential," he said.
"In addition to the extensive historical database, we are awaiting assay results from 55 recently drilled holes at Leeuwin, and resource upgrades are underway at Golden Orb, Evanston, and Marda Central."
Marda currently hosts a JORC 2012 resource of 10.2 million tonnes at 1.05 g/t gold, containing 342,300 ounces. This includes 2.1 million tonnes at 1.10 g/t (73,800 ounces) in the Indicated category and 8.1 million tonnes at 1.03 g/t (268,500 ounces) in the Inferred category.
For Leeuwin, Red Boomerang and Deception Hill lie outside the current resource, providing opportunities for testing as the company continues to review Marda's extensive historical database. Leeuwin stated that this work forms part of a systematic exploration strategy aimed at advancing early-stage targets, identifying new structural corridors, and building a pipeline of follow-up opportunities across the project area.
Historical drilling at Red Boomerang and Deception Hill tested primary gold mineralization in quartz-pyrite veins within porphyry, with the best widths and grades occurring near felsic-ultramafic contacts.
The regional target screening comes as Leeuwin advances Marda's broader development pathway, combining new exploration with ongoing project studies. The company signed a non-binding Memorandum of Understanding with Bain Global Resources and MEGA Resources in June to evaluate financing, contract mining, and processing options for the project. Mining permitting and design work are underway, while discussions with MEGA continue. The regional work adds a new dimension to Leeuwin's Marda strategy, which focuses on resource growth, new discovery opportunities, and future development studies.
Next steps include drilling planning and permitting, with drilling at Red Boomerang scheduled for the second half of 2026. Leeuwin is also awaiting assay results from 55 recently completed holes that tested Golden Orb, Marda Central, and down-dip extensions along high-grade vein trends. Resource upgrades at Golden Orb, Evanston, and Marda Central are in progress, with updated resource estimates targeted for release in the second half of 2026.
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