Leeuwin Metals Ltd has initiated a new phase of exploration at its 100% owned Marda Gold Project in Western Australia. The company has started a 3,000‑meter reverse circulation drilling program at the Marda Central prospect, building on the encouraging results from a previous 2,000‑meter phase. In Phase 1, multiple shallow, thick, high‑grade gold intercepts were reported, with notable results including intercepts of 16 meters at 2.00 g/t gold and 8 meters at 3.04 g/t gold in one drill hole, as well as other promising intercepts showing significant gold content over extended sections. These promising early results have driven the decision to test both along-strike and down‑dip extensions of the known mineralisation. In addition to the ongoing drilling, the company has commenced regional geophysical surveys and field mapping to explore potential extensions to the mineralisation trend. This broader exploration of the Marda project area, which spans over 500 square kilometers and includes historical mining sites along with several high‑priority targets, is expected to further validate the project’s upside. The project’s strategic location in Western Australia’s well‐established Goldfields, with easy access to infrastructure and processing facilities, adds to the development appeal. Looking ahead, Phase 2 is designed to not only extend the existing high‑grade zones with both step‑out and infill drilling but also to pave the way for detailed geological modeling, follow‑up drilling, and resource estimation workstreams once results are delivered in the September quarter of the year. The company has planned a total of up to 10,000 meters of drilling for 2025 at the Marda project, indicating a robust exploration strategy aimed at establishing a significant gold resource. The news carries both bullish and bearish sentiments. On the bullish side, the rapid progression from promising Phase 1 results to an aggressive Phase 2 drilling campaign signals strong confidence in the project’s potential, while the commencement of additional geophysical surveys underscores a proactive approach to uncovering further gold mineralisation. This positions the company favorably for future resource upgrades and value creation. Conversely, the cautious note here is that forward‑looking statements and exploration results come with inherent risks and uncertainties, and the positive initial results still need to be confirmed with subsequent data before the full extent of the gold system and its shareholder value can be firmly established.