Godolphin's Lewis Ponds Project: Unlocking High-Grade Gold and Silver Potential
Godolphin Resources (ASX: GRL) has announced significant progress at its 100%-owned Lewis Ponds gold, silver and base metals project in New South Wales' Lachlan Fold Belt. The company is advancing multiple workstreams to enhance project value through improved resource definition, metallurgical breakthroughs, and exploration initiatives.
Resource Update and Expansion on the Horizon
Godolphin's Lewis Ponds project already boasts an impressive 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 – equating to 398,000 oz gold & 15.9 Moz silver in contained metal.
The company is now preparing to update this resource estimate later in 2025, supported by recently acquired high-resolution LiDAR imagery. This drone-captured data provides extremely detailed topographical mapping that will create highly accurate digital terrain models – critical inputs for resource modelling and future mining initiatives.
"Godolphin has been very conscious of advancing multiple concurrent workstreams at Lewis Ponds to unlock value for shareholders. We have been busy updating existing geological models and collecting the project specific data required as inputs to the pending MRE update, which is expected to considerably increase confidence in the project," said Managing Director Jeneta Owens.
Metallurgical Breakthrough: Improved Precious Metals Recovery
In a significant development for project economics, Godolphin has made progress on the metallurgical front. The company engaged Brisbane-based Core Resources to review historical metallurgical test work, focusing on optimising gold and silver recoveries.
The review identified a promising processing pathway that could substantially increase precious metals recovery through a multi-stage flotation process. Key findings include:
| Stream | Historic Performance | Opportunity |
|---|---|---|
| Zinc | 80% recovery with 66% Zn grade | Robust circuit can be confidently progressed |
| Lead (Au-Ag + Cu) | 70% Pb recovery with good silver (72%) but moderate gold (56%) recovery | Producing a separate copper concentrate before lead flotation may reduce contamination and enhance gold/silver recovery |
This multi-stage approach is already employed by other Australian operations processing polymetallic ores, suggesting a viable pathway for Lewis Ponds.
Exploration Growth: Deep IP Survey to Target Extensions
Godolphin is preparing to conduct a deep-penetrating Induced Polarisation (IP) survey over the postulated southern extension of the Lewis Ponds resource. The company has selected a contractor and is finalising survey design.
Previous IP data suggests significant mineralisation may extend south of the current resource area. The new survey is designed to see deeper beneath the surface to define future drill targets and potentially expand the resource.
Understanding Lewis Ponds: A High-Grade Polymetallic System
Lewis Ponds represents a significant polymetallic deposit in the mineral-rich Lachlan Fold Belt, which hosts world-class operations including Woodlawn, Cadia-Ridgeway, and North Parkes.
What is a Polymetallic Deposit?
Polymetallic deposits contain multiple valuable metals in economically significant quantities. At Lewis Ponds, these include gold, silver, zinc, lead, and copper. These deposits typically form in specific geological environments where mineralising fluids introduce various metals into suitable host rocks.
The Lewis Ponds deposit consists of stratabound, disseminated to massive sulphide lenses hosted in Silurian felsic to intermediate volcanic rocks. Mineralisation occurs over a strike length exceeding 2km, with two main styles:
- Plunging shoots of thicker, high-grade mineralisation within anticline and syncline axes
- Tabular lenses in fold limbs and shear zones
This geological setting explains the deposit's high-grade nature and exploration potential.
Induced Polarisation (IP) Surveys Explained
IP surveys are geophysical methods that measure the electrical chargeability of subsurface materials. This technique is particularly effective at identifying sulphide mineralisation—often associated with gold, silver and base metals—as sulphide minerals are typically more chargeable than surrounding host rocks.
Godolphin's planned deep-penetrating IP survey aims to detect chargeable responses at greater depths than previous surveys, potentially identifying mineralised zones that extend beyond the current resource boundary.
What This Means for Investors
Godolphin's multi-pronged approach to advancing Lewis Ponds demonstrates a comprehensive strategy to enhance project value:
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Resource Definition: The upcoming MRE update, supported by high-precision LiDAR data, should provide increased confidence in the project's scale and quality.
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Processing Optimisation: The metallurgical breakthroughs could significantly improve project economics by enhancing gold and silver recoveries – the highest-value components in the polymetallic ore.
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Exploration Upside: The planned IP survey targets resource growth, with historical data suggesting substantial expansion potential to the south.
For investors tracking ASX-listed precious metals developers, Godolphin represents an emerging opportunity with a substantial existing resource base (nearly 400,000 oz gold and 16 million oz silver), clear development pathway, and significant exploration upside.
The company's approach of advancing multiple workstreams concurrently demonstrates management's commitment to efficiently progressing Lewis Ponds toward higher confidence levels and, ultimately, development decisions.
"We have also been working with our neighbours at Lewis Ponds and sourcing the appropriate contractor to complete the planned deep penetrating IP survey. We have now engaged our chosen contractor and are working with everyone involved to start the data acquisition phase. We look forward to providing further updates as the many different work packages required to advance Lewis Ponds progress," added Ms Owens.
Want to Discover Godolphin's Gold and Silver Opportunity?
Interested in a company with nearly 400,000 oz gold and 16 million oz silver already defined and now unlocking even greater potential? Learn more about Godolphin Resources' (ASX: GRL) multi-pronged strategy at Lewis Ponds, including their metallurgical breakthroughs and upcoming resource expansion. For a deeper understanding of this compelling investment opportunity in the mineral-rich Lachlan Fold Belt, watch Godolphin's latest presentation here.
