Godolphin Resources has completed four large diameter diamond drill holes for 285.6m as it hunts rare earths and rare metals at its Narraburra project in NSW. Whilst all samples are bound for the lab, portable XRF testing indicated mineralisation in all cores. The company says the maiden test of the underlying bedrock and preliminary results are very encouraging.
Hot on the heels of infield analysis, Godolphin will race the latest samples to the laboratory for detailed mineralogical work to determine if they are the right rocks to produce an economically significant resource.
Godolphin Resources' Managing Director, Jeneta Owens said: “The core drilling is a major step in Godolphin’s commitment to the ongoing exploration and development of the Project. The pXRF results are highly encouraging and indicate that not only are the economic elements of interest in the weathered rock, as tested by previous explorers, but there is also potential within the fresh rock, specifically for rubidium, which is a rare and high-value metal.”
“Our focus has now shifted to the next phase of exploration, which will include additional test work to determine extraction rates for the rare earths and rate metals to evaluate economic viability.”
Assay results are expected by management to take another six to eight weeks. In the meantime, Godolphin is wasting no time in getting on with its next 4000m air-core drill program aimed at upgrading its previously identified mineralisation to its maiden JORC mineral resource estimate.
Its last campaign showed Godolphin has proved to be a good performer on a wet track accomplishing its four-hole program through an extremely wet season in NSW. Now punters will be hoping for a drier track over the next 4000m sprint.
Rare earths and rare metals were first found to be prospective in the Narraburra area granite soils in 1999. The region has since been found to be one of the largest prospective resource areas for the critical minerals as defined by the Australian Government.
The additional presence of zirconium and lithium offers Godolphin the potential to enter one of the fastest developing commodity markets in the world.
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