23/08/2021 - 14:53

Godolphin refreshes gold hunt in Lachlan Fold Belt

23/08/2021 - 14:53

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NSW gold and base metals explorer Godolphin Resources has kicked off a new round of drilling at its Lewis Ponds polymetallic project in the revered Lachlan Fold Belt as it looks to grow its already impressive existing mineral resource. The company plans to put down four RC holes zeroing in on the project’s Quarry lode, which occurs outside the current boundaries of the Lewis Ponds mineral resource estimate.

ASX-listed junior gold and base metals explorer Godolphin Resources has kicked off a new round of drilling at its Lewis Ponds polymetallic project 15km east of Orange in the revered Lachlan Fold Belt in New South Wales as it looks to grow its already impressive mineral resource there. The company plans to put down four reverse circulation holes zeroing in on the project’s Quarry lode, where it picked up shallow precious metals sniffs from drilling last year and which it says occurs outside the current boundaries of the Lewis Ponds mineral resource estimate.

The Quarry lode, east of the main Spicer’s lode and Tom’s lodes, has been pierced at depth by previous deeper core drilling.

However, Godolphin interprets the lode to also be lurking not far beneath the surface and in an area to the north that has seen little or no drilling.

The RC drilling that is under way at Lewis Ponds will be aimed at testing the near-surface Quarry lode targets.

Orange-based Godolphin boasts one of the largest exploration portfolios amongst junior players in the coveted Lachlan Fold Belt region where it is sitting on a whopping 3,200sqkm of landholdings.

The Lewis Ponds exploration licence takes in its Lewis Ponds resource.

Godolphin recently unveiled a remodelled inferred mineral resource for Lewis Ponds estimated at 6.2 million tonnes grading an average 2 grams per tonne gold, 80 g/t silver, 2.7 per cent zinc, 1.6 per cent lead and 0.2 per cent copper.

Contained metals within the deposit’s Tim’s and Spicer lodes tip the scales at 398,000 ounces of gold, 15.9 million ounces of silver, 170,000 tonnes of zinc, 99,000 tonnes of lead and 11,000 tonnes of copper.

The company has done well to resume drilling at Lewis Ponds given the pandemic state of affairs in NSW.

Godolphin Resources Managing Director Jeneta Owens said: “It is a great outcome that we have been able to get this drill program under way safely. The delays caused by heavy rain over July, combined with the snap Covid lockdowns in NSW were unavoidable.

“This (Lewis Ponds) drill campaign has the potential to increase the Lewis Ponds mineral resource northwards.”

Godolphin carried out an initial resource definition diamond drilling program at Lewis Ponds earlier this year.

One of the stand-out drill intersections from the quartet of holes went an impressive 43.2 metres across the Spicer’s and Tom’s lodes at average grades of 1.82 g/t gold, 14 g/t silver and 0.4 per cent zinc and lead combined, or a gold-equivalent grade of 2.36 g/t, from 446m.

The notable diamond drill hit included a trio of higher-grade cores including 6m at 3.56 g/t gold, 11 g/t silver, 0.7 per cent zinc and lead combined, or a gold-equivalent grade of 4.23 g/t, from 443m.

The other two sub-sections came in at 8m going 3.11 g/t gold, 32 g/t silver, 0.8 per cent zinc and lead combined, for a gold-equivalent grade of 4.27 g/t gold, from 465m and 5m at 2.85 g/t gold, 24 g/t silver and 0.7 per cent zinc and lead combined, or a gold-equivalent grade of 3.72 g/t, from 479m.

 

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