LM1: Annual Report to shareholders

Original announcement by asx on

Company
Leeuwin Metals Ltd
Ticker
LM1
Exchange
ASX
Region
Western Australia
Primary commodity
Gold
Secondary commodities
Nickel, Lithium, Iron ore, Copper, Pge
Document categories
Drill results, Resource update, Agreement transaction
Extracted
2026-09-24 07:14:09 UTC

Analysis by Minestarters Atlas

Atlas analysis published:

Minestarters Atlas analysis

Summary

Leeuwin Metals Ltd's annual report highlights a successful year for its Marda Gold Project in Western Australia, with a maiden Mineral Resource Estimate of 342,300 oz announced in December 2025, subsequently upgraded to 378,600 oz post-year-end. The company also reported high-grade drill intercepts at Evanston and identified new targets, while strategically managing its non-core assets through a joint venture and ongoing reviews.

Reasoning: The annual report details substantial growth in the Marda Gold Project's mineral resource, including a significant upgrade in contained gold and an increase in Indicated ounces, alongside successful drilling campaigns that extended high-grade mineralization. Strategic asset management and the securing of mining leases further de-risk the project.

Positive factors

  • Significant increase in contained gold ounces in the updated MRE.
  • Strong increase in Indicated ounces, improving resource confidence.
  • High-grade drill intercepts extending mineralization at Evanston.
  • Strategic management of non-core assets and new acquisitions.
  • All resources located on granted Mining Leases, enabling development.

Negative factors

  • Some drill results are historical re-releases, reducing novelty for those specific facts.
  • True widths are not disclosed for drill intercepts.

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 40

Classification and evidence

Category Upgradepositive

Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.

Why it applies: Indicated ounces increased by 41% in the updated Mineral Resource Estimate.

Evidence · text

“Indicated ounces up 41%”

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: Total tonnage increased from 10.2 Mt to 11.4 Mt in the updated Mineral Resource Estimate.

Evidence · text

“upgraded to 11.4 Mt @ 1.03 g/t Au for 378,600 oz”

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: Contained gold ounces increased from 342,300 oz to 378,600 oz in the updated Mineral Resource Estimate.

Evidence · text

“upgraded to 11.4 Mt @ 1.03 g/t Au for 378,600 oz”

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: The Mineral Resource Estimates were compiled by Competent Persons Mr Paul Hetherington and Ms Emily Henry.

Evidence · text

“The information in this report that relates to the Estimation and Reporting of Mineral Resources for the July 2026 Mineral Resource update is based on information compiled by Ms Emily Henry, who is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and an independent consultant employed by Exora Consulting Pty Ltd. The December 2025 maiden Mineral Resource Estimate was compiled by Mr Paul Hetherington, a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM) and an independent consultant employed by Cube Consulting.”

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: The Mineral Resource Estimates were prepared in accordance with the JORC Code (2012 Edition).

Evidence · text

“JORC Code (2012 Edition)”

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: Cut-off grades of 0.30 g/t Au and 1.50 g/t Au (underground) are disclosed for the resource estimates.

Evidence · text

“Reported above a 0.30 g/t Au cut-off grade within an A$6,500/oz optimised pit shell, with an underground component at Python reported above 1.50 g/t Au.”

Maiden Resourceneutral

First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.

Why it applies: A maiden Mineral Resource Estimate was announced in December 2025.

Evidence · text

“Maiden Mineral Resource Estimate of 10.2 Mt @ 1.05 g/t Au for 342,300 oz announced in December 2025”

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: The Mineral Resource Estimate was updated post year end on 29 July 2026.

Evidence · text

“Post year end, the Mineral Resource Estimate was upgraded to 11.4 Mt @ 1.03 g/t Au for 378,600 oz”

Bonanza Interceptpositive

Exceptionally high-grade zone, well above the deposit-type norm.

Why it applies: Several drill intercepts, such as 4m @ 10.68 g/t Au and 1m @ 26.4 g/t Au, represent exceptionally high-grade zones.

Evidence · text

“4 m @ 10.68 g/t Au from 60 m (MGRC0041)”

Step-Out Extensionpositive

Mineralization extended beyond the previously known limit.

Why it applies: Drilling at Evanston, specifically MGRC0083, extended the higher-grade shoot beyond the existing resource area.

Evidence · text

“MGRC0083 targeted the interpreted higher-grade shoot and an extension of a DHEM anomaly approximately 250 m down dip of the existing pit, extending the shoot beyond the resource area.”

QA/QC Disclosedpositive

Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).

Why it applies: The company states that drilling, sampling, and assaying are undertaken using documented QA/QC procedures including certified reference materials, blanks, and duplicates.

Evidence · text

“Drilling, sampling and assaying are undertaken using documented QA/QC procedures including the routine insertion of certified reference materials, blanks and duplicates, and drill collar and downhole survey data are validated before being incorporated into the geological database.”

Apparent Width Onlynegative

Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.

Why it applies: The drill intercepts are reported as downhole lengths without true width estimates.

Evidence · text

“9m @ 5.23g/t Au”

Stale Data Re-releasenegative

Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: Historical drill intercepts from Red Boomerang and Deception Hill are re-announced in this report.

Evidence · text

“A systematic review of the historical database identified multiple significant intercepts at the Red Boomerang and Deception Hill prospects, both within the Marda Gold Project and none of which are included in the Mineral Resource (see ASX announcement dated 23 June 2026). Historical intercepts included: 66 m @ 1.12 g/t Au from 13 m, incl. 18 m @ 2.32 g/t Au from 16 m (EVB0317)”

Extracted facts

Stored fact records: 40. Some facts used in scoring do not have a stored record.

Drill Results (28)

MGRC0018Marda North · goldGrade: 5Grade Unit: g/tIntercept: 5 mView all details
Link to this fact

Identity

Hole ID
MGRC0018
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
5
Grade Unit
g/t
Intercept
5 m
From
229 m
To
234 m
Intercept Depth
229 m

Classification

Program
exploration
Sample Type
drill
Group ID
MGRC0018:229-234
Mining Method
mixed

Location

Location
Python pit
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This high-grade intercept demonstrates good continuity of mineralization at depth, which is a positive for resource extension.

Positive factors

  • High-grade intercept (5.0 g/t Au) is exceptional for gold.
  • Extends mineralization down dip beneath existing pit.

Negative factors

  • Apparent width only, true width not stated.

Evidence · text

“5 m @ 5.0 g/t Au from 229 m to end of hole, incl. 1 m @ 10.0 g/t Au from 231 m (MGRC0018)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

MGRC0018Marda North · goldGrade: 10Grade Unit: g/tIntercept: 1 mView all details
Link to this fact

Identity

Hole ID
MGRC0018
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
10
Grade Unit
g/t
Intercept
1 m
From
231 m
To
232 m
Intercept Depth
231 m

Classification

Program
exploration
Sample Type
drill
Group ID
MGRC0018:231-232
Mining Method
mixed

Location

Location
Python pit
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This bonanza-grade sub-interval confirms the presence of very high-grade zones within the broader intercept, which is highly positive.

Positive factors

  • Bonanza grade intercept (10.0 g/t Au) indicates very high-grade mineralization.

Negative factors

  • Narrow intercept length (1m).
  • Apparent width only, true width not stated.

Evidence · text

“1 m @ 10.0 g/t Au from 231 m (MGRC0018)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

MGRC0027Marda North · goldGrade: 1.29Grade Unit: g/tIntercept: 23 mView all details
Link to this fact

Identity

Hole ID
MGRC0027
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
1.29
Grade Unit
g/t
Intercept
23 m
From
207 m
To
230 m
Intercept Depth
207 m

Classification

Program
exploration
Sample Type
drill
Group ID
MGRC0027:207-230
Mining Method
mixed

Location

Location
Python pit
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This wide intercept with moderate grade confirms good continuity of mineralization beneath the Python pit, supporting resource expansion.

Positive factors

  • Significant intercept length (23m) with moderate grade (1.29 g/t Au) confirms continuity.
  • Extends mineralization beneath existing pit.

Negative factors

  • Apparent width only, true width not stated.

Evidence · text

“23 m @ 1.29 g/t Au from 207 m, incl. 10 m @ 2.3 g/t Au, plus 16 m @ 0.78 g/t Au from 244 m (MGRC0027)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

MGRC0027Marda North · goldGrade: 2.3Grade Unit: g/tIntercept: 10 mView all details
Link to this fact

Identity

Hole ID
MGRC0027
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
2.3
Grade Unit
g/t
Intercept
10 m
From
207 m
To
217 m
Intercept Depth
207 m

Classification

Program
exploration
Sample Type
drill
Group ID
MGRC0027:207-217
Mining Method
mixed

Location

Location
Python pit
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This strong-grade sub-interval enhances the overall prospectivity of the mineralization at depth.

Positive factors

  • Strong grade (2.3 g/t Au) over a good width (10m) within the broader intercept.

Negative factors

  • Apparent width only, true width not stated.

Evidence · text

“10 m @ 2.3 g/t Au (MGRC0027)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

MGRC0027Marda North · goldGrade: 0.78Grade Unit: g/tIntercept: 16 mView all details
Link to this fact

Identity

Hole ID
MGRC0027
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
0.78
Grade Unit
g/t
Intercept
16 m
From
244 m
To
260 m
Intercept Depth
244 m

Classification

Program
exploration
Sample Type
drill
Group ID
MGRC0027:244-260
Mining Method
mixed

Location

Location
Python pit
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This intercept indicates broader zones of mineralization, contributing to the overall understanding of the deposit's geometry.

Positive factors

  • Good intercept length (16m) with weak but continuous gold mineralization.

Negative factors

  • Apparent width only, true width not stated.

Evidence · text

“16 m @ 0.78 g/t Au from 244 m (MGRC0027)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

MGRC0023Marda North · goldGrade: 1.15Grade Unit: g/tIntercept: 9 mView all details
Link to this fact

Identity

Hole ID
MGRC0023
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
1.15
Grade Unit
g/t
Intercept
9 m
From
193 m
To
202 m
Intercept Depth
193 m

Classification

Program
exploration
Sample Type
drill
Group ID
MGRC0023:193-202
Mining Method
mixed

Location

Location
Python pit
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This intercept provides further evidence of continuous mineralization at moderate grades, supporting the project's potential.

Positive factors

  • Moderate grade (1.15 g/t Au) over a good width (9m) confirms mineralization.

Negative factors

  • Apparent width only, true width not stated.

Evidence · text

“9 m @ 1.15 g/t Au from 193 m (MGRC0023)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

MGRC0041Marda North · goldGrade: 5.23Grade Unit: g/tIntercept: 9 mView all details
Link to this fact

Identity

Hole ID
MGRC0041
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
5.23
Grade Unit
g/t
Intercept
9 m
From
57 m
To
66 m
Intercept Depth
57 m

Classification

Program
exploration
Sample Type
drill
Group ID
MGRC0041:57-66
Mining Method
mixed

Location

Location
Evanston
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This high-grade, shallow intercept from the maiden Evanston program is highly positive, confirming significant mineralization and validating the target.

Positive factors

  • Exceptional grade (5.23 g/t Au) over a good width (9m) at shallow depth.
  • Part of the maiden RC program at Evanston, validating historical data.

Negative factors

  • Apparent width only, true width not stated.

Evidence · text

“9 m @ 5.23 g/t Au from 57 m, incl. 4 m @ 10.68 g/t Au from 60 m (MGRC0041)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

MGRC0041Marda North · goldGrade: 10.68Grade Unit: g/tIntercept: 4 mView all details
Link to this fact

Identity

Hole ID
MGRC0041
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
10.68
Grade Unit
g/t
Intercept
4 m
From
60 m
To
64 m
Intercept Depth
60 m

Classification

Program
exploration
Sample Type
drill
Group ID
MGRC0041:60-64
Mining Method
mixed

Location

Location
Evanston
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This bonanza-grade sub-interval significantly enhances the prospectivity of the Evanston target, indicating high-value mineralization.

Positive factors

  • Bonanza grade (10.68 g/t Au) over a good width (4m) indicates very high-grade zones.

Negative factors

  • Apparent width only, true width not stated.

Evidence · text

“4 m @ 10.68 g/t Au from 60 m (MGRC0041)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

MGRC0035Marda North · goldGrade: 6.05Grade Unit: g/tIntercept: 8 mView all details
Link to this fact

Identity

Hole ID
MGRC0035
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
6.05
Grade Unit
g/t
Intercept
8 m
From
12 m
To
20 m
Intercept Depth
12 m

Classification

Program
exploration
Sample Type
drill
Group ID
MGRC0035:12-20
Mining Method
mixed

Location

Location
Evanston
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This shallow, high-grade intercept is very positive, indicating easily accessible, high-value mineralization at Evanston.

Positive factors

  • Exceptional grade (6.05 g/t Au) over a good width (8m) at very shallow depth (from 12m).

Negative factors

  • Apparent width only, true width not stated.

Evidence · text

“8 m @ 6.05 g/t Au from 12 m (MGRC0035)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

MGRC0042Marda North · goldGrade: 3.12Grade Unit: g/tIntercept: 11 mView all details
Link to this fact

Identity

Hole ID
MGRC0042
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
3.12
Grade Unit
g/t
Intercept
11 m
From
85 m
To
96 m
Intercept Depth
85 m

Classification

Program
exploration
Sample Type
drill
Group ID
MGRC0042:85-96
Mining Method
mixed

Location

Location
Evanston
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This strong-grade, wide intercept further confirms significant mineralization at Evanston, contributing to resource potential.

Positive factors

  • Strong grade (3.12 g/t Au) over a good width (11m) at moderate depth.

Negative factors

  • Apparent width only, true width not stated.

Evidence · text

“11 m @ 3.12 g/t Au from 85 m, incl. 6 m @ 4.88 g/t Au from 85 m (MGRC0042)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

MGRC0042Marda North · goldGrade: 4.88Grade Unit: g/tIntercept: 6 mView all details
Link to this fact

Identity

Hole ID
MGRC0042
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
4.88
Grade Unit
g/t
Intercept
6 m
From
85 m
To
91 m
Intercept Depth
85 m

Classification

Program
exploration
Sample Type
drill
Group ID
MGRC0042:85-91
Mining Method
mixed

Location

Location
Evanston
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This strong-grade sub-interval further highlights the high-grade potential within the Evanston mineralization.

Positive factors

  • Strong grade (4.88 g/t Au) over a good width (6m) within the broader intercept.

Negative factors

  • Apparent width only, true width not stated.

Evidence · text

“6 m @ 4.88 g/t Au from 85 m (MGRC0042)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

MGRC0065Marda North · goldGrade: 3.55Grade Unit: g/tIntercept: 7 mView all details
Link to this fact

Identity

Hole ID
MGRC0065
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
3.55
Grade Unit
g/t
Intercept
7 m
From
17 m
To
24 m
Intercept Depth
17 m

Classification

Program
exploration
Sample Type
drill
Group ID
MGRC0065:17-24
Mining Method
mixed

Location

Location
Evanston
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This shallow, strong-grade intercept contributes to the understanding of near-surface mineralization at Evanston.

Positive factors

  • Strong grade (3.55 g/t Au) over a good width (7m) at shallow depth.

Negative factors

  • Apparent width only, true width not stated.

Evidence · text

“7 m @ 3.55 g/t Au from 17 m, incl. 2 m @ 7.85 g/t Au from 21 m (MGRC0065)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

MGRC0065Marda North · goldGrade: 7.85Grade Unit: g/tIntercept: 2 mView all details
Link to this fact

Identity

Hole ID
MGRC0065
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
7.85
Grade Unit
g/t
Intercept
2 m
From
21 m
To
23 m
Intercept Depth
21 m

Classification

Program
exploration
Sample Type
drill
Group ID
MGRC0065:21-23
Mining Method
mixed

Location

Location
Evanston
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This high-grade sub-interval further enhances the shallow, high-grade potential at Evanston.

Positive factors

  • Exceptional grade (7.85 g/t Au) within a shallow intercept.

Negative factors

  • Narrow intercept length (2m).
  • Apparent width only, true width not stated.

Evidence · text

“2 m @ 7.85 g/t Au from 21 m (MGRC0065)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

MGRC0083Marda North · goldGrade: 3.2Grade Unit: g/tIntercept: 13 mView all details
Link to this fact

Identity

Hole ID
MGRC0083
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
3.2
Grade Unit
g/t
Intercept
13 m
From
91 m
To
104 m
Intercept Depth
91 m

Classification

Program
exploration
Sample Type
drill
Group ID
MGRC0083:91-104
Mining Method
mixed

Location

Location
Evanston
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This intercept represents a significant step-out success, extending high-grade mineralization and demonstrating further growth potential at Evanston.

Positive factors

  • Strong grade (3.2 g/t Au) over a good width (13m).
  • Extends the higher-grade shoot beyond the existing resource area, indicating significant step-out success.

Negative factors

  • Apparent width only, true width not stated.

Evidence · text

“13 m @ 3.2 g/t Au from 91 m, incl. 3 m @ 10.05 g/t Au from 93 m (MGRC0083)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

MGRC0083Marda North · goldGrade: 10.05Grade Unit: g/tIntercept: 3 mView all details
Link to this fact

Identity

Hole ID
MGRC0083
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
10.05
Grade Unit
g/t
Intercept
3 m
From
93 m
To
96 m
Intercept Depth
93 m

Classification

Program
exploration
Sample Type
drill
Group ID
MGRC0083:93-96
Mining Method
mixed

Location

Location
Evanston
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This bonanza-grade sub-interval confirms the high-grade nature of the extended mineralization, significantly enhancing the value of the step-out success.

Positive factors

  • Bonanza grade (10.05 g/t Au) within a significant step-out intercept.

Negative factors

  • Narrow intercept length (3m).
  • Apparent width only, true width not stated.

Evidence · text

“3 m @ 10.05 g/t Au from 93 m (MGRC0083)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

MGRC0109Marda North · goldGrade: 1.72Grade Unit: g/tIntercept: 14 mView all details
Link to this fact

Identity

Hole ID
MGRC0109
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
1.72
Grade Unit
g/t
Intercept
14 m
From
98 m
To
112 m
Intercept Depth
98 m

Classification

Program
exploration
Sample Type
drill
Group ID
MGRC0109:98-112
Mining Method
mixed

Location

Location
Evanston
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This intercept contributes to the understanding of mineralization continuity at Evanston, supporting resource definition.

Positive factors

  • Moderate grade (1.72 g/t Au) over a good width (14m) at moderate depth.

Negative factors

  • Apparent width only, true width not stated.

Evidence · text

“14 m @ 1.72 g/t Au from 98 m, incl. 3 m @ 4.75 g/t Au from 98 m (MGRC0109)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

MGRC0109Marda North · goldGrade: 4.75Grade Unit: g/tIntercept: 3 mView all details
Link to this fact

Identity

Hole ID
MGRC0109
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
4.75
Grade Unit
g/t
Intercept
3 m
From
98 m
To
101 m
Intercept Depth
98 m

Classification

Program
exploration
Sample Type
drill
Group ID
MGRC0109:98-101
Mining Method
mixed

Location

Location
Evanston
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This strong-grade sub-interval enhances the overall prospectivity of the Evanston mineralization.

Positive factors

  • Strong grade (4.75 g/t Au) within a moderate depth intercept.

Negative factors

  • Narrow intercept length (3m).
  • Apparent width only, true width not stated.

Evidence · text

“3 m @ 4.75 g/t Au from 98 m (MGRC0109)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

MGRC0084Marda North · goldGrade: 1Grade Unit: g/tIntercept: 10 mView all details
Link to this fact

Identity

Hole ID
MGRC0084
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
1
Grade Unit
g/t
Intercept
10 m
From
96 m
To
106 m
Intercept Depth
96 m

Classification

Program
exploration
Sample Type
drill
Group ID
MGRC0084:96-106
Mining Method
mixed

Location

Location
Evanston
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This intercept provides further evidence of continuous mineralization at Evanston, supporting resource definition.

Positive factors

  • Moderate grade (1.0 g/t Au) over a good width (10m) at moderate depth.

Negative factors

  • Apparent width only, true width not stated.

Evidence · text

“10 m @ 1.0 g/t Au from 96 m (MGRC0084)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

EVB0317Marda North · goldGrade: 1.12Grade Unit: g/tIntercept: 66 mHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Hole ID
EVB0317
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
1.12
Grade Unit
g/t
Intercept
66 m
From
13 m
To
79 m
Intercept Depth
13 m

Classification

Program
exploration
Sample Type
drill
Group ID
EVB0317:13-79
Mining Method
mixed

Location

Location
Red Boomerang
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
Yes
Review Reason
historical_restatement
Interp. Status
scored
Historical
Yes

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This historical, wide, shallow intercept highlights significant potential at Red Boomerang, warranting follow-up drilling.

Positive factors

  • Very wide intercept (66m) with moderate grade (1.12 g/t Au) at shallow depth.
  • Identified as a new target outside current resource.

Negative factors

  • Historical data, not new assays.
  • Apparent width only, true width not stated.

Evidence · text

“66 m @ 1.12 g/t Au from 13 m, incl. 18 m @ 2.32 g/t Au from 16 m (EVB0317)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

Stale Data Re-releasenegative

Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

EVB0317Marda North · goldGrade: 2.32Grade Unit: g/tIntercept: 18 mHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Hole ID
EVB0317
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
2.32
Grade Unit
g/t
Intercept
18 m
From
16 m
To
34 m
Intercept Depth
16 m

Classification

Program
exploration
Sample Type
drill
Group ID
EVB0317:16-34
Mining Method
mixed

Location

Location
Red Boomerang
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
Yes
Review Reason
historical_restatement
Interp. Status
scored
Historical
Yes

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This strong-grade sub-interval within the historical data further supports the prospectivity of Red Boomerang.

Positive factors

  • Strong grade (2.32 g/t Au) over a good width (18m) within the historical intercept.

Negative factors

  • Historical data, not new assays.
  • Apparent width only, true width not stated.

Evidence · text

“18 m @ 2.32 g/t Au from 16 m (EVB0317)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

Stale Data Re-releasenegative

Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

EVB0246Marda North · goldGrade: 4.33Grade Unit: g/tIntercept: 12 mHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Hole ID
EVB0246
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
4.33
Grade Unit
g/t
Intercept
12 m
From
64 m
To
76 m
Intercept Depth
64 m

Classification

Program
exploration
Sample Type
drill
Group ID
EVB0246:64-76
Mining Method
mixed

Location

Location
Red Boomerang
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
Yes
Review Reason
historical_restatement
Interp. Status
scored
Historical
Yes

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This historical, strong-grade intercept indicates significant potential at Red Boomerang, justifying planned drilling.

Positive factors

  • Strong grade (4.33 g/t Au) over a good width (12m) at moderate depth.
  • Identified as a new target outside current resource.

Negative factors

  • Historical data, not new assays.
  • Apparent width only, true width not stated.

Evidence · text

“12 m @ 4.33 g/t Au from 64 m, incl. 1 m @ 26.4 g/t Au from 67 m (EVB0246)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

Stale Data Re-releasenegative

Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

EVB0246Marda North · goldGrade: 26.4Grade Unit: g/tIntercept: 1 mHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Hole ID
EVB0246
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
26.4
Grade Unit
g/t
Intercept
1 m
From
67 m
To
68 m
Intercept Depth
67 m

Classification

Program
exploration
Sample Type
drill
Group ID
EVB0246:67-68
Mining Method
mixed

Location

Location
Red Boomerang
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
Yes
Review Reason
historical_restatement
Interp. Status
scored
Historical
Yes

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This bonanza-grade sub-interval from historical data highlights the exceptional grade potential at Red Boomerang.

Positive factors

  • Bonanza grade (26.4 g/t Au) within the historical intercept, indicating very high-grade zones.

Negative factors

  • Narrow intercept length (1m).
  • Historical data, not new assays.
  • Apparent width only, true width not stated.

Evidence · text

“1 m @ 26.4 g/t Au from 67 m (EVB0246)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

Stale Data Re-releasenegative

Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

EVB0152Marda North · goldGrade: 1.79Grade Unit: g/tIntercept: 24 mHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Hole ID
EVB0152
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
1.79
Grade Unit
g/t
Intercept
24 m
From
0 m
To
24 m
Intercept Depth
0 m

Classification

Program
exploration
Sample Type
drill
Group ID
EVB0152:0-24
Mining Method
mixed

Location

Location
Red Boomerang
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
Yes
Review Reason
historical_restatement
Interp. Status
scored
Historical
Yes

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This historical, wide, near-surface intercept indicates significant bulk tonnage potential at Red Boomerang.

Positive factors

  • Wide intercept (24m) with moderate grade (1.79 g/t Au) from surface.
  • Identified as a new target outside current resource.

Negative factors

  • Historical data, not new assays.
  • Apparent width only, true width not stated.

Evidence · text

“24 m @ 1.79 g/t Au from 0 m, incl. 15 m @ 2.72 g/t Au from 8 m (EVB0152)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

Stale Data Re-releasenegative

Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

EVB0152Marda North · goldGrade: 2.72Grade Unit: g/tIntercept: 15 mHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Hole ID
EVB0152
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
2.72
Grade Unit
g/t
Intercept
15 m
From
8 m
To
23 m
Intercept Depth
8 m

Classification

Program
exploration
Sample Type
drill
Group ID
EVB0152:8-23
Mining Method
mixed

Location

Location
Red Boomerang
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
Yes
Review Reason
historical_restatement
Interp. Status
scored
Historical
Yes

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This strong-grade sub-interval from historical data further supports the prospectivity of Red Boomerang.

Positive factors

  • Strong grade (2.72 g/t Au) over a good width (15m) within the historical intercept.

Negative factors

  • Historical data, not new assays.
  • Apparent width only, true width not stated.

Evidence · text

“15 m @ 2.72 g/t Au from 8 m (EVB0152)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

Stale Data Re-releasenegative

Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

EVB0116Marda North · goldGrade: 1.46Grade Unit: g/tIntercept: 21 mHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Hole ID
EVB0116
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
1.46
Grade Unit
g/t
Intercept
21 m
From
26 m
To
47 m
Intercept Depth
26 m

Classification

Program
exploration
Sample Type
drill
Group ID
EVB0116:26-47
Mining Method
mixed

Location

Location
Red Boomerang
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
Yes
Review Reason
historical_restatement
Interp. Status
scored
Historical
Yes

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This historical, wide intercept indicates good mineralization at Red Boomerang, supporting future exploration.

Positive factors

  • Wide intercept (21m) with moderate grade (1.46 g/t Au) at shallow depth.
  • Identified as a new target outside current resource.

Negative factors

  • Historical data, not new assays.
  • Apparent width only, true width not stated.

Evidence · text

“21 m @ 1.46 g/t Au from 26 m, incl. 1 m @ 10.4 g/t Au from 36 m (EVB0116)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

Stale Data Re-releasenegative

Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

EVB0116Marda North · goldGrade: 10.4Grade Unit: g/tIntercept: 1 mHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Hole ID
EVB0116
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
10.4
Grade Unit
g/t
Intercept
1 m
From
36 m
To
37 m
Intercept Depth
36 m

Classification

Program
exploration
Sample Type
drill
Group ID
EVB0116:36-37
Mining Method
mixed

Location

Location
Red Boomerang
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
Yes
Review Reason
historical_restatement
Interp. Status
scored
Historical
Yes

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This bonanza-grade sub-interval from historical data further highlights the high-grade potential at Red Boomerang.

Positive factors

  • Bonanza grade (10.4 g/t Au) within the historical intercept.

Negative factors

  • Narrow intercept length (1m).
  • Historical data, not new assays.
  • Apparent width only, true width not stated.

Evidence · text

“1 m @ 10.4 g/t Au from 36 m (EVB0116)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

Stale Data Re-releasenegative

Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

DHB105Marda North · goldGrade: 2.41Grade Unit: g/tIntercept: 10 mHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Hole ID
DHB105
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
2.41
Grade Unit
g/t
Intercept
10 m
From
50 m
To
60 m
Intercept Depth
50 m

Classification

Program
exploration
Sample Type
drill
Group ID
DHB105:50-60
Mining Method
mixed

Location

Location
Deception Hill
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
Yes
Review Reason
historical_restatement
Interp. Status
scored
Historical
Yes

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This historical, strong-grade intercept indicates good potential at Deception Hill, supporting future exploration.

Positive factors

  • Strong grade (2.41 g/t Au) over a good width (10m) at moderate depth.
  • Identified as a new target outside current resource.

Negative factors

  • Historical data, not new assays.
  • Apparent width only, true width not stated.

Evidence · text

“10 m @ 2.41 g/t Au from 50 m, incl. 1 m @ 15 g/t Au from 51 m (DHB105)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

Stale Data Re-releasenegative

Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

DHB105Marda North · goldGrade: 15Grade Unit: g/tIntercept: 1 mHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Hole ID
DHB105
Project
Marda North
Commodity
gold
Region
australia_wa
Reported Region
australia_wa
Ticker
LM1

Geometry

Grade
15
Grade Unit
g/t
Intercept
1 m
From
51 m
To
52 m
Intercept Depth
51 m

Classification

Program
exploration
Sample Type
drill
Group ID
DHB105:51-52
Mining Method
mixed

Location

Location
Deception Hill
Loc. Source
document

QA/QC

QA/QC Disclosed
Yes
QP Signed
Yes

Deleterious

Deleterious Flag
No

Metal Equivalent

Assumptions Disclosed
No

Review

Needs Review
Yes
Review Reason
historical_restatement
Interp. Status
scored
Historical
Yes

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This bonanza-grade sub-interval from historical data further highlights the high-grade potential at Deception Hill.

Positive factors

  • Bonanza grade (15.0 g/t Au) within the historical intercept.

Negative factors

  • Narrow intercept length (1m).
  • Historical data, not new assays.
  • Apparent width only, true width not stated.

Evidence · text

“1 m @ 15 g/t Au from 51 m (DHB105)”

Tags used in scoring

QA/QC Disclosedpositive

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 Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

Stale Data Re-releasenegative

Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

Resource Estimates (12)

indicatedMarda Gold Project · goldTonnes: 2100000Grade: 1.1Grade Unit: g/tContained Metal: 73800Contained Unit: ozView all details
Link to this fact

Identity

Project
Marda Gold Project
Commodity
gold
Region
australia_wa
Reported Region
Western Australia
Ticker
LM1

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Paul Hetherington
Resource group id
resource:e4b0250c932edf1274f1

Resource Data

Category
indicated
Tonnes
2100000
Grade
1.1
Grade Unit
g/t
Contained Metal
73800
Contained Unit
oz
Cutoff Grade
0.3
Cutoff Unit
g/t Au

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: This is a substantial indicated resource, forming a key part of the maiden MRE, demonstrating good geological confidence.

Positive factors

  • Indicated resource provides a good level of geological confidence.

Evidence · table

“2.1”

Context: Indicated

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

inferredMarda Gold Project · goldTonnes: 8100000Grade: 1.03Grade Unit: g/tContained Metal: 268500Contained Unit: ozView all details
Link to this fact

Identity

Project
Marda Gold Project
Commodity
gold
Region
australia_wa
Reported Region
Western Australia
Ticker
LM1

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Paul Hetherington
Resource group id
resource:6b7ad070d40aac29d259

Resource Data

Category
inferred
Tonnes
8100000
Grade
1.03
Grade Unit
g/t
Contained Metal
268500
Contained Unit
oz
Cutoff Grade
0.3
Cutoff Unit
g/t Au

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: The inferred resource contributes significantly to the overall contained ounces, indicating future growth potential, though with lower confidence.

Positive factors

  • Large inferred resource adds significant potential scale to the project.

Negative factors

  • Inferred category has lower geological confidence.

Evidence · table

“8.1”

Context: Inferred

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Fact 3Marda Gold Project · goldTonnes: 10200000Grade: 1.05Grade Unit: g/tContained Metal: 342300Contained Unit: ozView all details
Link to this fact

Identity

Project
Marda Gold Project
Commodity
gold
Region
australia_wa
Reported Region
Western Australia
Ticker
LM1

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Paul Hetherington
Resource group id
resource:3fa9547ad4ae251398c1

Resource Data

Tonnes
10200000
Grade
1.05
Grade Unit
g/t
Contained Metal
342300
Contained Unit
oz
Cutoff Grade
0.3
Cutoff Unit
g/t Au

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: The maiden MRE of over 340,000 ounces of gold provides a strong foundation for the project, delivered at a low discovery cost.

Positive factors

  • Maiden Mineral Resource Estimate establishes a significant gold inventory for the project.

Evidence · table

“10.2”

Context: Total

Tags used in scoring

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

indicatedMarda Gold Project · goldTonnes: 3100000Grade: 1.04Grade Unit: g/tContained Metal: 104000Contained Unit: ozView all details
Link to this fact

Identity

Project
Marda Gold Project
Commodity
gold
Region
australia_wa
Reported Region
Western Australia
Ticker
LM1

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Emily Henry
Resource group id
resource:48d1c3c6b48fa5a565c5

Resource Data

Category
indicated
Tonnes
3100000
Grade
1.04
Grade Unit
g/t
Contained Metal
104000
Contained Unit
oz
Cutoff Grade
0.3
Cutoff Unit
g/t Au

Prior Estimate

Resource Date
2026-07-29
Prior Tonnes
2100000
Prior Grade
1.1
Prior Contained Metal
73800

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: The 41% increase in indicated ounces is a highly positive development, significantly de-risking the project and providing a stronger base for future studies, despite a minor grade reduction.

Positive factors

  • Significant increase in indicated ounces (41%) improves resource confidence and de-risks the project.
  • Substantial contained metal growth in the indicated category.

Negative factors

  • Slight decrease in average grade for the indicated category.

Evidence · table

“3.1”

Context: Indicated

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: 3100000 against 2100000 previously

Grade Declinenegative

Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 1.04 against 1.1 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 104000 against 73800 previously

inferredMarda Gold Project · goldTonnes: 8300000Grade: 1.03Grade Unit: g/tContained Metal: 274600Contained Unit: ozView all details
Link to this fact

Identity

Project
Marda Gold Project
Commodity
gold
Region
australia_wa
Reported Region
Western Australia
Ticker
LM1

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Emily Henry
Resource group id
resource:89b10a68f1d31d3b1d7d

Resource Data

Category
inferred
Tonnes
8300000
Grade
1.03
Grade Unit
g/t
Contained Metal
274600
Contained Unit
oz
Cutoff Grade
0.3
Cutoff Unit
g/t Au

Prior Estimate

Resource Date
2026-07-29
Prior Tonnes
8100000
Prior Grade
1.03
Prior Contained Metal
268500

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: The inferred resource shows continued growth, contributing to the overall project scale and indicating further exploration upside.

Positive factors

  • Increase in inferred ounces adds to the overall resource scale and future potential.

Evidence · table

“8.3”

Context: Inferred

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Dilutive Growthnegative

Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.

Why it applies: tonnage rose while contained metal went 274600 from 268500

Fact 6Marda Gold Project · goldTonnes: 11400000Grade: 1.03Grade Unit: g/tContained Metal: 378600Contained Unit: ozView all details
Link to this fact

Identity

Project
Marda Gold Project
Commodity
gold
Region
australia_wa
Reported Region
Western Australia
Ticker
LM1

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Emily Henry
Resource group id
resource:32141b565dece4bf77f1

Resource Data

Tonnes
11400000
Grade
1.03
Grade Unit
g/t
Contained Metal
378600
Contained Unit
oz
Cutoff Grade
0.3
Cutoff Unit
g/t Au

Prior Estimate

Resource Date
2026-07-29
Prior Tonnes
10200000
Prior Grade
1.05
Prior Contained Metal
342300

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: The updated MRE shows substantial growth in contained gold, driven by successful drilling, reinforcing the project's potential, despite a minor reduction in overall grade.

Positive factors

  • Overall contained gold ounces increased by 36,300 oz, demonstrating successful resource growth.
  • Total tonnage increased significantly.

Negative factors

  • Slight decrease in overall average grade.

Evidence · table

“11.4”

Context: Total

Tags used in scoring

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 378600 against 342300 previously

EvanstonMarda Gold Project · goldTonnes: 5400000Grade: 0.96Grade Unit: g/tContained Metal: 165500Contained Unit: ozView all details
Link to this fact

Identity

Project
Marda Gold Project
Commodity
gold
Region
australia_wa
Reported Region
Western Australia
Ticker
LM1

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Emily Henry
Resource group id
resource:8b621b9fe2b4889c4b47
Deposit or zone
Evanston

Resource Data

Tonnes
5400000
Grade
0.96
Grade Unit
g/t
Contained Metal
165500
Contained Unit
oz
Cutoff Grade
0.3
Cutoff Unit
g/t Au

Prior Estimate

Resource Date
2026-07-29
Prior Tonnes
4300000
Prior Grade
0.98
Prior Contained Metal
135800

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: The Evanston resource shows strong growth, contributing significantly to the overall Marda Gold Project, reflecting successful drilling efforts.

Positive factors

  • Evanston resource increased by 22%, adding significant ounces to the project.
  • Successful drilling incorporated into the update.

Negative factors

  • Slight decrease in average grade for Evanston.

Evidence · text

“lifting the Evanston resource by 22% to 5.4 Mt @ 0.96 g/t Au for 165,500 oz”

Tags used in scoring

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: 5400000 against 4300000 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 165500 against 135800 previously

EvanstonMarda Gold Project · goldTonnes: 2400000Grade: 1.49Grade Unit: g/tContained Metal: 115400Contained Unit: ozView all details
Link to this fact

Identity

Project
Marda Gold Project
Commodity
gold
Region
australia_wa
Reported Region
Western Australia
Ticker
LM1

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Emily Henry
Resource group id
resource:f22b4b1dc4247a9d0fee
Deposit or zone
Evanston

Resource Data

Tonnes
2400000
Grade
1.49
Grade Unit
g/t
Contained Metal
115400
Contained Unit
oz
Cutoff Grade
0.8
Cutoff Unit
g/t Au

Prior Estimate

Resource Date
2026-07-29

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: The substantial high-grade component within the Evanston resource highlights the potential for economically attractive mining, even at a higher cut-off grade.

Positive factors

  • High-grade component of Evanston resource adds significant value.
  • Demonstrates potential for higher-grade mining scenarios.

Evidence · text

“including a higher-grade component of 2.4 Mt @ 1.49 g/t Au for 115,400 oz”

Tags used in scoring

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

DugiteMarda Gold Project · goldContained Metal: 6600Contained Unit: ozView all details
Link to this fact

Identity

Project
Marda Gold Project
Commodity
gold
Region
australia_wa
Reported Region
Western Australia
Ticker
LM1

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Emily Henry
Resource group id
resource:0eb41b96845fc4c7ca76
Deposit or zone
Dugite

Resource Data

Contained Metal
6600
Contained Unit
oz
Cutoff Grade
0.3
Cutoff Unit
g/t Au

Prior Estimate

Resource Date
2026-07-29

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: The maiden resource at Dugite is a positive step, indicating new discovery, though more details on tonnage and grade would provide better context.

Positive factors

  • Maiden resource for Dugite establishes a new mineralized zone.

Negative factors

  • Only contained metal is reported, without tonnage or grade.

Evidence · text

“added a maiden Mineral Resource of 6,600 oz at Dugite”

Tags used in scoring

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Marda CentralMarda Gold Project · goldGrade: 1.25Grade Unit: g/tContained Metal: 94400Contained Unit: ozView all details
Link to this fact

Identity

Project
Marda Gold Project
Commodity
gold
Region
australia_wa
Reported Region
Western Australia
Ticker
LM1

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Emily Henry
Resource group id
resource:662264e0f9fb2c336053
Deposit or zone
Marda Central

Resource Data

Grade
1.25
Grade Unit
g/t
Contained Metal
94400
Contained Unit
oz
Cutoff Grade
0.3
Cutoff Unit
g/t Au

Prior Estimate

Resource Date
2026-07-29

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: Marda Central contributes significantly to the overall resource, with a good grade, indicating a valuable component of the project.

Positive factors

  • Marda Central shows a good contained gold figure with a solid average grade.

Negative factors

  • Tonnage for Marda Central is not explicitly stated.

Evidence · text

“taking Marda Central to 94,400 oz @ 1.25 g/t Au”

Tags used in scoring

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Fact 11West Pilbara Iron Ore Project · iron_oreView all details
Link to this fact

Identity

Project
West Pilbara Iron Ore Project
Commodity
iron_ore
Region
australia_wa
Reported Region
Western Australia
Ticker
LM1

Resource scope

Resource group id
resource:6a8ae5b33908131a28e2

Prior Estimate

Resource Date
2026-08-17

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: The joint venture agreement is a positive strategic move, allowing Leeuwin to retain exposure to the iron ore and copper potential of the West Pilbara project without incurring exploration costs, while focusing capital on its Marda Gold Project.

Positive factors

  • Secures funding for exploration from Arrow Minerals, reducing Leeuwin's capital outlay.
  • Retains a significant free-carried interest (30%) through to Bankable Feasibility Study and Decision to Mine.
  • Allows Leeuwin to focus capital on its core gold assets.

Negative factors

  • Reduces Leeuwin's ownership in the project.

Evidence · text

“Post year end nn 17 August 2026, Leeuwin agreed a joint venture and option with Arrow Minerals over the West Pilbara Iron Ore Project, under which Arrow funds exploration and Leeuwin retains a free-carried 30% interest”

Tags used in scoring

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

Fact 12Forrestania and Lake Johnston · goldView all details
Link to this fact

Identity

Project
Forrestania and Lake Johnston
Commodity
gold
Region
australia_wa
Reported Region
Western Australia
Ticker
LM1

Resource scope

Resource group id
resource:42e5deaa67227d0b6190

Prior Estimate

Resource Date
2026-09-10

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-24T00:00:00.000Z

Reasoning: The acquisition of new tenements in known gold-bearing greenstone belts expands Leeuwin's exploration footprint in Western Australia, with a scrip-based consideration preserving capital.

Positive factors

  • Acquires new exploration tenure in prospective greenstone belts.
  • Expands Leeuwin's gold exploration portfolio in Western Australia.
  • Consideration is primarily scrip-based, preserving cash.

Negative factors

  • Introduces a 1% royalty on gross revenue from minerals mined.

Evidence · text

“On 10 September 2026, after year end, Leeuwin entered into a binding agreement with Mining Equities Pty Ltd to acquire a 100% interest in granted Exploration Licence E63/2427 (Lake Johnston) and Exploration Licence applications E77/3376 (Marvel Loch) and E77/3413 (Forrestania), covering approximately 105 km² within the Southern Cross, Forrestania and Lake Johnston greenstone belts. The Marvel Loch application neighbours the Marvel Loch gold mine. Consideration is 350,000 Leeuwin shares and a 1% royalty.”

Tags used in scoring

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

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.