High-Grade Discoveries Expand Godolphin's Lewis Ponds Gold-Copper Potential
Godolphin Resources (ASX: GRL) has announced significant new discoveries with rock chip samples returning up to 5.11g/t gold and 5.78% copper from two previously undrilled prospects at its Lewis Ponds Project in NSW's Lachlan Fold Belt.
Two New High-Grade Prospects Expand Resource Potential
Godolphin has identified two new high-grade gold and copper targets outside the existing Lewis Ponds Mineral Resource Estimate (MRE), significantly enhancing the project's expansion potential. The discoveries at Cesar and Britannia prospects suggest widespread mineralisation extending beyond the known resource.
Key results include:
| Prospect | Highlight Samples | Minerals |
|---|---|---|
| Cesar | Up to 5.11g/t gold | Gold-rich altered crystal tuff |
| Britannia | Up to 5.78% copper, 0.80g/t gold | Copper-bearing shear zones |
The Britannia Prospect is particularly promising as it coincides with an undrilled Induced Polarisation (IP) anomaly, which has previously proven effective in identifying sulphide mineralisation within the main Lewis Ponds resource area.
"These high-grade assays, from areas outside our known high-grade resource at Lewis Ponds, really point to the size of the mineralising system. Mineral systems of the style of Lewis Ponds are known for their multiple mineralised lenses and the two new prospects could be representing a new lens of mineralisation which has not yet been drilled out," said Managing Director Jeneta Owens.
Strategic Significance to Lewis Ponds Project
These discoveries are highly significant as they occur outside but in reasonable proximity to the established Lewis Ponds resource, which already hosts:
- JORC (2012) Inferred Resource of 6.20 Mt at 2.0g/t gold, 80g/t silver, 2.7% zinc, 1.6% lead and 0.2% copper
- 398,000 oz gold and 15.9 Moz silver contained metal
The new prospects could potentially add to this substantial resource base and enhance the project's overall economic potential.
Britannia Prospect: A Compelling Target
The Britannia Prospect shows particularly strong potential with:
- High-grade copper mineralisation in surface samples up to 5.78% copper
- Historic workings mapped over a 300m strike length
- Two main copper-bearing shear zones 10-15 meters apart
- Association with a significant IP chargeability anomaly (5x background) that remains undrilled
- Previous limited historic drilling that failed to adequately test the prospect
Selected sample results from Britannia include:
- 5.78% copper, 0.09g/t gold, 22.2g/t silver
- 5.67% copper, 0.43g/t gold, 38.5g/t silver
- 2.53% copper, 0.33g/t gold, 7.4g/t silver
The copper mineralisation at Britannia occurs primarily as secondary malachite and lesser disseminated chalcopyrite within shear zones that cut across crystal tuff volcanic rocks. Historic drilling did not adequately test the 300m strike length or the strongest IP anomaly areas, presenting significant opportunities for future exploration.
Cesar Prospect: Untapped Gold Potential at Godolphin Resources Ltd
The Cesar Prospect, located 700m west of the main Lewis Ponds resource, has never been drill-tested and shows impressive surface gold values:
- Surface samples up to 5.11g/t gold
- Historic workings including two shallow costeans approximately 50m long
- Mineralisation hosted in the same crystal tuff that forms the footwall of the Lewis Ponds deposit
Two of the highest-grade samples from Cesar returned 5.11g/t gold and 5.05g/t gold from goethite-limonite altered crystal tuff material, indicating significant gold enrichment in this previously unexplored area.
Understanding IP Surveys in Mineral Exploration
Induced Polarisation (IP) surveys represent an important geophysical method used to identify subsurface materials, particularly effective for detecting sulphide mineralisation associated with gold and base metal deposits.
IP surveys work by measuring how ground materials store and release electrical charge. When electrical current is introduced into the ground, different materials react differently based on their electrical properties. Sulphide minerals such as pyrite, chalcopyrite (copper-bearing), and galena (lead-bearing) produce strong IP responses due to their electrical conductivity characteristics.
The survey process involves:
- Introducing a controlled electrical current into the ground via electrodes
- Measuring the voltage decay after the current is turned off
- Analysing the resulting data to create 3D models of subsurface features
At Lewis Ponds, IP surveys have demonstrated effectiveness in mapping the known sulphide mineralisation within the main resource area. This makes the undrilled IP anomaly at Britannia particularly significant, as it suggests the presence of similar sulphide mineralisation at depth.
| IP Response Level | Typical Interpretation |
|---|---|
| Background (5mV/V) | Normal host rock response |
| 15mV/V | Potential minor sulphide accumulation |
| 25mV/V (5x background) | Significant sulphide concentration |
The fact that Britannia's strong IP anomaly (5x background levels) coincides with high-grade copper samples at surface substantially increases confidence that it may represent substantial mineralisation at depth. This correlation between surface geochemistry and geophysical signatures is a positive indicator for future drilling success.
Next Steps for Godolphin
Godolphin has outlined a clear path forward to evaluate these promising new discoveries:
- Detailed geological mapping at both prospects to define drill targets
- Exploration of additional historic workings east of Britannia (Little Bird and Mt Regan Prospects)
- A planned deep-searching IP survey to further delineate the mineralisation potential
- Follow-up drilling of the highest priority targets
The company plans to commence additional field work at both prospects in the coming months, with results expected shortly thereafter. This systematic approach aims to maximise the chances of defining significant new resources at Lewis Ponds.
"Importantly, the new prospects follow exciting results from the reprocessing of IP data that also highlighted potential extensions to the Lewis Ponds sulphide mineralisation. At Britannia, we have an IP anomaly with coincident high grade rock chips at surface and over 300m from historic workings. This makes for a compelling target for additional mineralisation," noted Jeneta Owens.
Why Investors Should Take Notice
Godolphin's Lewis Ponds discovery represents a compelling investment case for several reasons:
-
Resource expansion potential: The new prospects could significantly add to the existing 398,000 oz gold and 15.9 Moz silver resource
-
High-grade intercepts: Surface samples showing grades of up to 5.11g/t gold and 5.78% copper indicate potential for economic mineralisation
-
Geological validation: The coincidence of IP anomalies with surface mineralisation increases confidence in the exploration model
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Multiple mineralising events: The discovery of multiple mineralised lenses suggests a robust mineralising system with potential for additional discoveries
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Strategic location: The project is situated in the prolific Lachlan Fold Belt of NSW, home to numerous major gold and copper mines
Project Background and Geological Setting
The Lewis Ponds deposit is located within the Lachlan Fold Belt in New South Wales, a region known for hosting significant mineral deposits including Woodlawn (polymetallic), Cadia-Ridgeway (Cu-Au), North Parkes (Cu-Au), and Tomingley (Au).
The deposit consists of stratabound, disseminated to massive sulphide lenses hosted in Silurian felsic to intermediate volcanic rocks. Mineralisation occurs over a strike length of more than 2km and is currently defined as a steeply east-dipping body.
While base metals were the primary focus of historic mining and exploration, Godolphin's analysis identified significant potential for gold and silver, leading to the current JORC 2012 Inferred Resource.
The mineralisation style at Lewis Ponds is consistent with volcanic-hosted massive sulphide (VHMS) deposits, which typically form in clusters or "camps" of multiple mineralised lenses. The identification of new mineralised zones at Cesar and Britannia supports this geological model and suggests potential for further discoveries within the project area.
With a focused exploration programme now underway and multiple high-priority targets identified, Godolphin is well-positioned to unlock significant additional value at Lewis Ponds in the coming months.
Ready to Capitalise on These New High-Grade Discoveries?
For investors seeking exposure to promising gold and copper opportunities in Australia's prolific Lachlan Fold Belt, Godolphin Resources' Lewis Ponds Project presents a compelling investment case. With high-grade discoveries expanding the project's potential beyond its established 398,000 oz gold resource, now is the time to conduct your due diligence. Watch Godolphin's presentation for deeper insights into these exciting new prospects and the company's strategic exploration plans.
