The tenement may host any north-western extension of the Narraburra project. Pic via Getty Images.
Godolphin eyes new exploration licence next-door to Narraburra REE project
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Godolphin Resources has lodged an application with the NSW Government’s Department of Industry and Investment for ELA 6637 (to be named Cambrai once granted) which is immediately adjacent to the company’s Narraburra rare earths project.
The Narraburra project contains 94.9 million tonnes at 739ppm TREO, including a higher-grade component of 20 million tonnes at 1,079ppm TREO.
The new 112 km2 exploration licence has never been explored for Rare Earth Elements (REE) and has the potential to host any north-western extension of Narraburra.
Godolphin Resources (ASX:GRL) is confident that the application has the potential to boost its overall portfolio of REE Projects and footprint in the Lachlan Fold Belt – where it already holds five projects and JV stakes.
The region is certainly heating up as an exploration hotspot, becoming known not just a locale for gold rushes of the past, but a crucible for the energy transition metals that will propel the future, with major discoveries like Alkane Resources’ (ASX:ALK) 10.1Moz gold equivalent Boda (2019) and the NSW Government approving both Regis Resources’ (ASX:RRL) McPhillamy’s gold mine and Silver Mines’ (ASX:SVL) Bowdens Silver project in a matter of weeks earlier this year.
Room to move at Narraburra
“This application for new ground is a logical addition to our enviable tenement portfolio and the Narraburra rare earth project,” MD Jeneta Owens said.
“From our recent work, we have identified that the existing Narraburra resource is open in several directions.
“Of note is the area to the west and north-west, having this ground under an application for a full exploration licence will provide the ability for natural growth of the resource into the future.
“Further, the considerable landholding that Cambrai provides will also increase space around Narraburra, unlocking room for infrastructure as development commences.”
Prospective for base metals and tin too
Previous exploration across the tenement has been limited but focused on porphyry style copper-gold deposit models.
However, the ELA contains the Thanowring granite, a Devonian aged A-type granite of the Narraburra suite that has never been tested for REE’s.
The tenement is also prospective for base metals and is the location of the Kalms workings, a historic tin mine.
Godolphin is confident that ELA6637 will be granted for the full three-year period and will be a valuable addition to complement the Narraburra REE project.
“Once the tenement has been fully granted, the Company intends to commence exploration to test the potential for primarily REE mineralisation and base metals across the tenement, we look forward to providing updates as the exploration programs evolve,” Owens said.
This article was developed in collaboration with Godolphin Resources Limited, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
