07/12/2020 - 13:05

Godolphin delves deeper into Lachlan discovery

07/12/2020 - 13:05

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ASX-listed explorer, Godolphin Resources, has encountered further hints of a gold-copper porphyry-style mineralised system at its Turrawonga discovery within the company’s Copper Hill East project 35km north of Orange in NSW’s Lachlan Fold Belt. It recently completed a couple of new deep infill drill holes at Turrawonga after an initial two holes returned 32m at 0.29 g/t gold and 0.13 per cent copper from 210m.

ASX-listed explorer, Godolphin Resources, has encountered further hints of a gold-copper porphyry-style mineralised system at its Turrawonga discovery within the company’s Copper Hill East project 35 kilometres north of Orange in NSW’s coveted Lachlan Fold Belt.

Orange-based Godolphin recently completed a couple of new deep infill drill holes at the Turrawonga prospect after the initial two RC holes drilled there returned the notable intercepts of 32 metres going 0.29 grams per tonne gold and 0.13 per cent copper from 210m including 12m at 0.45 g/t gold and 0.22 per cent copper from 230m.

The discovery at Turrawonga was the culmination of the company drill-testing – via the first two RC holes – gold-copper in soils and magnetic anomalies in the north of the Copper Hill East exploration licence area.

Godolphin fast-tracked the two follow-up RC holes, which were drilled down to whopping depths of 456m and 432m last month, as it sought to bulls-eye the porphyry system. According to the company, the deep drilling again points to the periphery of the porphyry-related gold-copper system.

Godolphin Resources Chief Executive Officer, David Greenwood said: “The latest drill holes at the Turrawonga prospect continue to suggest we are on the margins of a gold-copper porphyry-style mineralised system. We look forward to deepening these holes with diamond tails. This should give us a better understanding of the style and orientation of mineralisation as well as structure with the objective of vectoring into the higher-grade core of the porphyry system.”

Assay results from the latest Turrawonga drilling remain pending, while two of the four RC drill holes are being deepened with diamond drill tails ahead of a planned diamond hole.

Godolphin says the purpose of the diamond drilling at Turrawonga is to pierce the centre of the porphyry system and in the process, help improve the company’s understanding of the style and orientation of mineralisation and of host geological structures.

Copper Hill East lies approximately 60km south of the Boda porphyry gold-copper discovery made by Alkane Resources last year and approximately 55km north of Newcrest Mining’s giant Cadia-Ridgeway gold-copper operations in the Cadia Valley minerals district.

At its Lewis Ponds polymetallic project 15km east of Orange, Godolphin intends kicking off a 3,300m diamond drilling campaign next month following an extensive review of historical drilling data.

Lewis Ponds, which the company says is located on the same geological structure as Regis Resources’ 2-million-ounce McPhillamys gold project, hosts a significant historical mineral resource of 20.24 million tonnes of ore at 0.5 g/t gold, 33.3 g/t silver, 1.5 per cent zinc, 0.7 per cent lead and 0.1 per cent copper.

Godolphin’s diamond program is aimed at increasing its confidence in the Lewis Ponds mineral resource and adding to the resource through drilling targets outside the resource limits, as well as providing drill core samples for metallurgical test work.

The company recently remodelled the resource analysing geological characteristics identified by surface mapping and underground drill data. The remodelling work is now earmarked for external verification with a view to Godolphin releasing an updated mineral resource estimate in the March quarter next year.

Historical mining and exploration at Lewis Ponds focused mainly on base metals with associated gold and silver as by-products. However, according to the company, several historical drill holes highlight the significance of precious metals at Lewis Ponds, particularly at the northern limit of historic drilling.

One of the stand-out historical drill hole assays was 91m at 2.3 g/t gold, 79 g/t silver, 3.3 per cent zinc and 2.2 per cent lead.

 

Is your ASX listed company doing something interesting? Contact: matt.birney@businessnews.com.au

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