Leeuwin Metals partners to advance Marda Gold Project

Leeuwin Metals (ASX:LM1) signed a collaboration memorandum of understanding with Bain Global Resources and its affiliate, MEGA Resources.

The collaborative framework is designed to comprehensively evaluate development, mining, processing, and funding pathways for the Marda Gold Project, located in Western Australia.

By partnering with MEGA, an experienced Western Australian mine operator and mining contractor, Leeuwin secures crucial regional operational expertise and potential project development support.

The Marda Gold Project holds a substantial JORC 2012 mineral resource estimate of 10.2 million tonnes at 1.05 grammes per tonne of gold, translating to approximately 342,300 ounces of gold.

The resource is further broken down into an indicated category of 2.1 million tonnes at 1.1 grammes per tonne for 73,800 ounces and an inferred category of 8.1 million tonnes at 1.03 grammes per tonne for 268,500 ounces.

Under the newly established framework, the companies will explore potential investment capital from Bain, alongside contract mining and operational services from MEGA.

Additionally, the parties will investigate processing solutions, including the potential construction or acquisition of dedicated infrastructure or utilising third-party toll treatment.

The scope of the MOU extends beyond Marda, allowing the entities to evaluate regional exploration opportunities across their respective tenement holdings.

Leeuwin is progressing an updated mineral resource estimate for Marda, incorporating recent drilling data to optimise the project's economic potential.