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An announcement from Leeuwin Metals Ltd ( (AU:LM1) ) is now available.
Leeuwin Metals has reported further encouraging drill results from the Evanston Mine at its Marda Gold Project, with shallow step‑out holes intersecting mineralisation within the top 100 metres that lies outside the current resource. New intercepts, including 14 metres at 1.72 grams per tonne and 9 metres at 1.70 grams per tonne of gold, support the potential to expand Evanston’s 135,800‑ounce resource, as drilling along the 1.6‑kilometre trend continues and assays for 50 additional holes are awaited.
The 10,000‑metre reverse circulation drilling program is still under way, targeting both shallow strike extensions and down‑dip continuity, with down‑hole electromagnetic surveying proving useful in guiding follow‑up work. Leeuwin is also planning April drilling at Marda Central to test high‑grade workings and shoots beneath existing open pits, signaling an active growth phase that could enhance the project’s scale and underpin future development options for stakeholders.
The most recent analyst rating on (AU:LM1) stock is a Hold with a A$0.18 price target. To see the full list of analyst forecasts on Leeuwin Metals Ltd stock, see the AU:LM1 Stock Forecast page.
More about Leeuwin Metals Ltd
Leeuwin Metals Ltd is an Australian exploration company focused on gold development in Western Australia. The company’s key asset is the Marda Gold Project, north of Southern Cross, which hosts a global mineral resource of 342,300 ounces of gold, including the Evanston deposit where current drilling is concentrated.
Average Trading Volume: 318,419
Technical Sentiment Signal: Hold
Current Market Cap: A$21.63M
For an in-depth examination of LM1 stock, go to TipRanks’ Overview page.