21/12/2020 - 13:41

More gold sniffs for Godolphin at Lachlan Fold Belt

21/12/2020 - 13:41

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Godolphin Resources has again returned some tantalising RC drill hits it says continue to point to the margins of a potential copper-gold porphyry-style mineralised system at its Turrawonga discovery in NSW’s Lachlan Fold Belt. Notable intercepts from the latest round of drilling were 30m at 0.64 g/t gold and 0.04 per cent copper from 178m including 18m at 1.0 g/t gold, which in turn includes a 2m section going an intriguing 6.9 g/t.

ASX-listed gold-copper explorer, Godolphin Resources has again returned some tantalising RC drill hits that it says continue to point to the margins of a potential copper-gold porphyry-style mineralised system at its Turrawonga discovery in NSW’s Lachlan Fold Belt.

Notable intercepts from the latest round of drilling were 30m at an average grade of 0.64 grams per tonne gold and 0.04 per cent copper from 178m including 18m at 1.0 g/t gold from 182m, which in turn includes a 2m section going an intriguing 6.9 g/t from 182m.

The prospect sits within the company’s Copper Hill East project 35 kilometres north of Orange in the venerated Lachlan Fold Belt.

Godolphin drilled two deep infill drill holes at Turrawonga last month to follow up on the recent discovery RC hole that intersected 32 metres grading 0.29 g/t gold and 0.13 per cent copper from a depth of 210m including 12m at 0.45 g/t gold and 0.22 per cent copper from 230m.

 The discovery at Turrawonga came on the back of Godolphin’s drill-testing of gold-copper-in-soil and magnetic anomalies in the north of the Copper Hill East exploration licence area.

Its two follow-up RC holes plumbed the depths of 456m and 432m in a bid to lance the heart of the porphyry-hosted mineralisation.

According to the company, the drill intersections again suggest it has kissed the edges of a porphyry-related gold-copper system, with two of the four RC holes drilled at Turrawonga now being deepened with diamond drill tails.

Assay results for the pair are expected in the March quarter of next year.

Godolphin Resources Chief Executive Officer, David Greenwood said: “The latest assay result … at the Turrawonga prospect gives us added confidence that we are on the margins of a gold-copper porphyry-style mineralised system. The diamond drilling … should provide a better understanding of the style and orientation of mineralisation, and host structures, with the objective of vectoring into the peak mineralisation of the porphyry system.”

Godolphin holds 3,200 square kilometres of exploration tenements along the Lachlan Transverse Zone, one of the key structures that control the formation of gold and copper deposits within the Lachlan Fold Belt, the Godolphin Fault and the Molong Volcanic Belt.

The company’s Copper Hill East project, contained in the Molong Volcanic Belt, lies in the shadows of some illustrious company in the Lachlan Fold Belt gold-copper province.

It is nestled roughly midway between Alkane Resources’ revered Boda gold-copper porphyry discovery, about 60km to the north, and Newcrest Mining’s long-running Cadia-Ridgeway gold-copper operations, about 55km to the south in the Cadia Valley district, which makes it elephant country by any measure.

 

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

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