Leeuwin Metals (ASX: LM1) has entered into a binding share sale agreement with Ramelius Resources (ASX: RMS) to acquire 100% of Marda Operations.
Marda Operations owns the highly prospective Marda Gold Project, located in the renowned Western Australian Goldfields.
The Marda Gold Project spans over 500 sq. km of granted mining, exploration, and prospecting leases, situated 120km north of Southern Cross. The project hosts 8 open pits and numerous historical workings, with significant exploration potential highlighted by multiple high-priority targets requiring immediate follow-up work.
“The acquisition of the Marda Gold Project is a pivotal step for Leeuwin Metals, delivering significant value with minimal dilution to shareholders. This advanced gold project in Western Australia provides an exciting growth platform with substantial exploration potential,” Executive Chairman, Christopher Piggott, said.
“Marda hosts extensive known mineralization in and around existing pits. This mineralisation is open and represents low hanging fruit for our initial exploration campaign. There are also numerous drilling targets which have been defined by geophysics and limited drilling. There is immense upside at these targets which we will prioritise as part of our resource growth strategy. The project’s strategic location, within trucking distance of multiple gold mills and supported by excellent infrastructure, further enhances its viability.
“With granted mining leases included in the acquisition, Leeuwin is well-positioned to rapidly progress discoveries into development. We are excited to commence work programs and look forward to sharing updates as we advance this opportunity into 2025.”
Strategic Rational
Marda Gold provides Leeuwin Metals with a transformative opportunity to establish a strong foothold in the world-class Western Australian Goldfields region.
- Proven Mining History: The project features established open pits on granted mining leases and significant drill intercepts, providing a solid foundation for near-term exploration and growth.
- Immediate Work Programmes: With granted mining leases already in place, Leeuwin can commence work immediately, prioritising follow-up on multiple high-priority targets.
- Strategic Location: Situated close to critical infrastructure and processing hubs, the project minimises lead times to production within the Western Australian Goldfields.
- Portfolio Diversification: Marda complements Leeuwin's existing portfolio of critical metals by introducing exposure to gold, a globally valued commodity, in a highly prospective and mining-friendly jurisdiction.
While primarily focused on gold, the project is also prospective for iron ore, offering additional optionality for future exploration.
