# Leeuwin Metals uncorks cashflow opportunity from Marda tailings Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/leeuwin-metals-uncorks-cashflow-opportunity-from-marda-tailings--f5e8205e-9f1b-40b0-a04c-a5b66b0cae6f Original source: https://stockhead.com.au/resources/leeuwin-metals-uncorks-cashflow-opportunity-from-marda-tailings/ Publisher: stockhead Original announcement: 2026-09-23T01:19:03.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-23T03:02:32.466Z Atlas analysis updated: 2026-09-23T03:02:32.466Z - Company: Leeuwin Metals - Ticker: LM1 - Exchange: Unavailable - Region: Western Australia - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update, Drill results - Extracted: 2026-09-23 03:02:33 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Leeuwin Metals has confirmed gold in historic tailings at its Marda project in Western Australia via a maiden auger program. The ten samples averaged 0.60 g/t gold, suggesting a potential low-cost processing opportunity from surface material. Reasoning: Maiden auger sampling of historic tailings confirmed gold presence, providing a potential early cashflow avenue alongside broader development. - Positive factor: Gold returned from every sample in maiden tailings auger program - Positive factor: Potential low-cost processing opportunity from surface material Facts used in scoring: 3 ## Classification and evidence **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The tailings assessment represents a new avenue for cashflow alongside existing resource development. Evidence · text > opening another avenue to assess early cashflow ## Extracted facts Stored fact records: 3. Some facts used in scoring do not have a stored record. ## Drill Results (1) ### Fact 1 [Link to this fact](https://atlas-staging.minestarters.com/news/leeuwin-metals-uncorks-cashflow-opportunity-from-marda-tailings--f5e8205e-9f1b-40b0-a04c-a5b66b0cae6f#fact-drill-facts-0) Marda · gold #### Identity - Project: Marda - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LM1 #### Geometry - Grade: 0.6 - Grade Unit: g/t - Intercept: 1 m - From: 0 m - To: 1 m - Intercept Depth: 0 m #### Classification - Sample Type: surface - Group ID: Marda:0-1 #### Location - Location: Butcher Bird tailings at Marda Central - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: Maiden auger sampling of tailings confirmed gold presence. - Positive factor: Gold returned from every sample Evidence · text > Ten handheld auger samples from the Butcher Bird tailings at Marda Central returned an average 0.60g/t gold #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## Resource Estimates (2) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/leeuwin-metals-uncorks-cashflow-opportunity-from-marda-tailings--f5e8205e-9f1b-40b0-a04c-a5b66b0cae6f#fact-resource-facts-1) Marda · gold #### Identity - Project: Marda - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: LM1 #### Resource scope - Estimate type: resource - Resource group id: resource:60c18424607664c02c37 - Deposit or zone: Marda #### Resource Data - Category: indicated - Tonnes: 11400000 - Grade: 1.03 - Grade Unit: g/t - Contained Metal: 104000 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: Existing indicated resource component of the Marda project. - Positive factor: Established resource base Evidence · text > comprising 104,000oz indicated #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/leeuwin-metals-uncorks-cashflow-opportunity-from-marda-tailings--f5e8205e-9f1b-40b0-a04c-a5b66b0cae6f#fact-resource-facts-2) Marda · gold #### Identity - Project: Marda - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: LM1 #### Resource scope - Estimate type: resource - Resource group id: resource:05ce54d72679abe06941 - Deposit or zone: Marda #### Resource Data - Category: inferred - Tonnes: 11400000 - Grade: 1.03 - Grade Unit: g/t - Contained Metal: 274600 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: Existing inferred resource component of the Marda project. - Negative factor: Significant inferred component Evidence · text > and 274,600oz inferred #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.