Godolphin picks up high-grade copper at fast-growing Lewis Ponds

• Godolphin rock chipping uncovers copper at the Summers West and Little Bell prospects which sit outside the current Mineral Resource Estimate
• Prospects are south and west of the Lewis Ponds resources within a largely undrilled IP anomaly
• Company’s scoping study and metallurgical testing close to complete, ahead of plans for additional drilling

Special Report: The ink has barely dried on the upgraded resource at Godolphin Resources’ Lewis Ponds project in NSW’s Lachlan Fold Belt and it’s already on track to grow further.

Earlier this month, the company announced a 58% increase in overall tonnes at the project to 9.83Mt grading 1.49g/t gold, 66.15g/t silver, 2.46% zinc, 1.38% lead and 0.15% copper, with 5.01Mt sitting in the higher confidence indicated category.

This included an 18% lift in contained gold resources to 470,000oz, while silver inventory jumped by 31% to 21Moz and will be used to underpin an initial scoping study for Lewis Ponds.

That was a massive step forward for the project. But there are already signs it could expand further, with high grade copper uncovered in rock chips.

Rock chips hint at more copper

Field work completed by Godolphin Resources (ASX:GRL) at the Summers West and Little Bell prospects resulted in the observation of copper mineralisation in outcropping rocks.

At Little Bell, assays of over 1% copper were noted in 10 rock chip samples with separate top results of 3.3% copper and 1.3g/t gold, while a single sample taken from Summers West returned 1.29% copper and 0.14g/t gold.

The two prospects sit a short distance south and west of the existing Lewis Ponds resource and are associated with a largely undrilled induced polarisation chargeability anomaly that strikes for more than 1500m.

Exploration target

This supports the company’s recent exploration target of 3-5Mt at a grade range of 1% to 1.5% copper in the copper dominant sector and 3-5Mt at 1.42g/t to 2.46g/t gold equivalent in the polymetallic dominant sector.

“Our team has made exciting progress in the field, uncovering compelling evidence of a potentially distinct copper-rich system just south of the existing Lewis Ponds mineral resource area,” GRL managing director Jeneta Owens said.

“High-grade copper and gold assays from historic working – some dating back to the 1880s –highlight the area’s untapped potential.”

Owens noted that while only one drill hole was completed at Summers West, the visible malachite in outcrop and a strong IP chargeability anomaly point to a promising target.

“This anomaly extends southeast for 1.5km and connects with a high-grade copper shear zone at Little Bell,” she added.

“Together with the nearby Britannia prospect, these discoveries form a dynamic copper-gold corridor that is rapidly emerging as a key expansion opportunity for the company.”

Little Bell is about 550m south of the Lewis Ponds resource envelope and consists of several historical shafts and shallow prospecting pits, mapped over a discontinuous strike length of 300m.

Besides the scoping study, GRL is carrying out metallurgical testing to improve gold and silver recovery.

It is also planning additional drilling to underpin further resource growth by both testing known mineralisation and exploration target areas.

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.