Leeuwin hits shallow high-grade gold at Evanston; assays pending for 31 holes and DHEM flags new target

6 October 2025 | Subiaco, WA – Leeuwin Metals (ASX: LM1) has reported shallow, high-grade gold intercepts from its maiden RC program at the Evanston prospect, part of the Marda Gold Project in Western Australia, marking the first large-scale drilling at Evanston in more than 20 years. Initial assays include 9m @ 5.23g/t Au from 57m (incl. 4m @ 10.68g/t from 60m) in MGRC0041, 8m @ 6.05g/t Au from 12m in MGRC0035, and 11m @ 3.12g/t Au from 85m (incl. 6m @ 4.88g/t) in MGRC0042. A recently completed down-hole EM (DHEM) survey has also identified a new conductor down-dip, pointing to potential repeating structures and further upside.

The company says mineralisation at Evanston is shallow, stratiform and sulphide-associated, hosted within laminated cherts (with interbedded mafic amphibolites and ultramafics) and controlled by open, large-scale folding. The deposit geometry is characterised by a shallow southwest-plunging anticline over ~1.6km of strike, with gently dipping lenses situated close to surface—so reported intercepts are considered close to true widths. Mineralisation remains open along strike and down-dip.

Leeuwin has assays pending for 31 additional RC holes from the program, with drilling scheduled to resume later this quarter. Results from Evanston and other prospects across Marda will feed into a maiden Mineral Resource estimate targeted before year-end. Near-term work includes expanded DHEM, follow-up drilling of down-dip and along-strike extensions, ongoing resource modelling, and prospect reviews to build a pipeline of structurally prospective targets across the broader project area.