• Drilling at the Cyclops prospect has been completed and assays are pending
  • 10 holes were drilled for ~2km at highly prospective copper-gold targets
  • Results will be used to refine future exploration plans

 

Special Report: RC drilling has wrapped up at Godolphin Resources’ Cyclops and Yeoval East prospects at the Yeoval project where multiple structural zones of high-grade copper mineralisation were targeted.

GRL has a strong 3,400km2 presence in the Lachlan Ford Belt in NSW, a gold and copper district.

Cadia, owned by global mining major Newcrest, is one of Australia’s most prolific porphyry gold projects, producing 597,000oz Au at a substantially low cost of $45/oz in FY23, thanks to copper credits.

Goldophin Resources’ (ASX:GRL) flagship 290km2 Yeoval project has an existing 12.8Mt @ 0.38% Cu, 0.14g/t Au, 2.2g/t Ag and 120ppm molybdenum resource, which the company is looking to grow.

 

Godolphin Resources asx grl
The Yeoval project, other tenements and surrounding mining operations across the highly-mineralised Lachlan Ford belt. Pic supplied: (GRL)

The 1,834m RC drill program was based on historical exploration and extensive fieldwork completed during the year and focused on multiple targets where structural dilatational zones identified may indicate large volumes of high-grade copper mineralisation.

The highly prospective area hosts various mineralisation styles including Porphyry Au-Cu associated with Devonian calc-alkaline intrusions interpreted at the Yeoval East prospect.

Whereas the Cyclops prospect hosts magnetite chalcopyrite pods associated with northwest trending structures.

10 RC drill holes were dug for 1,624m and targeted mineralisation based on historical surface exploration identified by CRA Exploration and Godolphin in 1994 and 2022 respectively.

GRL MD Jeneta Owens says the drill team and geological crews worked well together to ensure the safe and timely completion of this drill campaign.

“Assay results from this program will play a key role in our plans for ongoing exploration at both prospects, which remain highly prospective for Cu-Au mineralisation,” Owens says.

“All samples have been compiled and dispatched for analysis, and we look forward to updating our investors with the results of this drill program and our plans for ongoing exploration at Cyclops and Yeoval East.”

 

This article was developed in collaboration with Godolphin Resources, 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.

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