New Discoveries Expand Resource Potential
The two newly identified prospects, Cesar and Britannia, are located outside the existing Lewis Ponds Mineral Resource Estimate area, providing potential for resource expansion. These discoveries at Godolphin Resources Ltd highlight the scale of the mineralising system at Lewis Ponds.
Surface sampling at the Cesar Prospect returned notable gold grades, with rock chip samples including:
- 5.11g/t gold in a goethite-limonite altered quartz vein
- 5.05g/t gold in goethite-limonite altered crystal tuff
At the Britannia Prospect, rock chip samples revealed significant copper and gold mineralisation:
- 5.78% copper, 0.09g/t gold, and 22.2g/t silver
- 5.67% copper, 0.43g/t gold, and 38.5g/t silver
- 3.78% copper, 0.30g/t gold, and 7.4g/t silver
The Britannia Prospect is particularly noteworthy as it coincides with an undrilled Induced Polarisation (IP) anomaly, with the peak of the anomaly measuring approximately 5 times background levels.
"These high-grade assays, from areas outside our known high-grade resource at Lewis Ponds, really point to the size of the mineralising system," said Managing Director Jeneta Owens. "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."
Compelling Geological Setting
What makes these discoveries at Godolphin Resources Ltd especially significant is their geological context. The Britannia copper mineralisation is associated with a 15mV/V Induced Polarisation chargeability anomaly, with the peak anomaly remaining untested by historic drilling.
Understanding IP Anomalies in Mineral Exploration
Induced Polarisation (IP) is a geophysical survey technique widely used in mineral exploration to identify areas with elevated sulphide mineralisation. IP chargeability measures the capacity of rocks to hold an electrical charge, with higher readings typically indicating increased sulphide content.
At Lewis Ponds, IP chargeability has proven effective at mapping existing mineralisation within the deposit area. The identification of a significant IP anomaly at Britannia (measuring 5 times background levels) that coincides with high-grade surface samples is encouraging, as it suggests potential for mineralisation at depth.
This pattern—where surface expressions of mineralisation align with geophysical anomalies—is often associated with mineral deposits.
Substantial Existing Resource Base
The Lewis Ponds project already hosts a substantial 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. This equates to:
- 398,000 ounces of contained gold
- 15.9 million ounces of contained silver
The new prospects have the potential to expand this resource base, considering they are situated outside the existing resource area.
Strategic Exploration Plan
Godolphin is advancing its exploration at Lewis Ponds with a systematic approach:
- Detailed geological mapping of both prospects to define precise drill targets
- Upcoming deep-searching IP survey to better understand the mineralisation at depth
- Field work to explore additional historic workings coincident with IP anomalies at the Little Bird and Mt Regan Prospects
- A planned pole-dipole survey in the southern sector to investigate potential mineralisation down to 300-400m depth
Investment Considerations
Godolphin Resources presents an investment case based on several key factors:
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Resource Growth Potential: The discovery of high-grade gold and copper at new prospects outside the existing resource area demonstrates expansion potential.
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Multiple Targets: Beyond Cesar and Britannia, the company has identified additional prospects at Little Bird and Mt Regan that coincide with IP anomalies.
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Established Mineralised System: The Lewis Ponds project already hosts a substantial gold and silver resource, with the new discoveries suggesting the system may be larger than previously understood.
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Strategic Location: The project is situated in the Lachlan Fold Belt, a prominent gold-copper province that hosts numerous major deposits.
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Methodical Exploration Approach: Godolphin is employing a structured exploration strategy, utilising geophysics to target high-potential areas for follow-up drilling.
The company's systematic approach to exploration, combined with these early results, positions Godolphin Resources as an opportunity for investors seeking exposure to advanced-stage precious and base metals exploration in Australia.
As the company advances its exploration program at Lewis Ponds, upcoming results from the planned geophysical surveys and subsequent drill programs targeting these newly identified prospects may provide further insight into the project's potential.
Project Background
Base metal mineralisation was the main focus of Lewis Ponds' historic mining, drilling, and exploration operations. However, after analysis of historical data in 2020, the company decided to concentrate on gold and silver potential.
The Lewis Ponds project is located within the Lachlan Fold Belt of New South Wales, a region known for hosting various deposit types including volcanic-hosted massive sulphide deposits (VMS), porphyry copper-gold and gold deposits.
The deposit consists of stratabound, disseminated to massive sulphide lenses hosted in Silurian felsic to intermediate volcanic rocks. The mineralisation occurs over a strike length of more than 2km and is defined as a steeply east dipping body.
Recent work by the company has highlighted that the area to the south of the current Mineral Resource Estimate has the potential to host additional sulphide mineralisation. The length and magnitude of the IP chargeability response in the south are similar to that which hosts the Lewis Ponds gold, silver and base metals mineralisation.
This, combined with notable anomalies in copper, molybdenum, barium, bismuth, tellurium, and lead from soil geochemical data and the recent high-grade rock chip results, points to the considerable potential of the mineralising system at Lewis Ponds.
Ready to Tap into Lewis Ponds' Expanded Potential?
Discover why Godolphin Resources' new high-grade gold and copper prospects outside the existing resource area could significantly enhance the value proposition for investors. With a substantial existing JORC resource and a methodical exploration approach in the prolific Lachlan Fold Belt, Godolphin presents a compelling opportunity. Learn more about these exciting developments and the company's strategic exploration plans by watching their latest presentation here.
