Australian explorer Leeuwin Metals (ASX:LM1) has long believed its newly-acquired Marda Gold Project boasts “significant untapped potential,” and drill results banked in September seem to tell the same story.
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There wasn’t a guarantee, though, with Leeuwin having to do their research before they grabbed up and started working on a project they believed in.
It all, Leeuwin’s MD Chris Piggott told HotCopper, came down to location.
“We were looking for a project that had a history of production or resource potential, large ground in Western Australia, and mining leases,” Mr Piggot explained.
“Marda ticked all those boxes. It was a simple proposition: The best place to find gold is next to a gold mine, it’s easy to permit, and it all becomes a whole lot more straightforward when you’re on granted mining leases.”
The trick now is to find further value in the already mined project; Ramelius Resources (ASX:RMS), still a partner, had worked on the land.
“We’re pretty focused on the exploration potential of the project; it’s a well-trodden path for exploration companies [to] go to old projects that haven’t had the love they deserved or they just weren’t the right fit at the time with the previous owners, and in this case, Marda is the right fit,” Mr Piggot said.
“That’s been our strategy to date, those the opportunity here.”
For Mr Piggot’s full thoughts on Marda and LM1‘s future, watch the video above.
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