Godolphin Launches Deep IP Survey at Lewis Ponds: Targeting Gold-Rich Expansion Opportunities
Godolphin Resources (ASX: GRL) has commenced an advanced Induced Polarisation (IP) survey at its 100%-owned Lewis Ponds gold, silver and base metals project in New South Wales. The survey represents a significant step in the company's exploration strategy, targeting deeper mineralisation than previous geophysical work and focusing on a promising 1-kilometer corridor southeast of the recently upgraded Mineral Resource Estimate (MRE).
New IP Survey Aims to Unlock Lewis Ponds' Hidden Potential
The newly initiated IP survey is designed to penetrate beyond the limitations of historical geophysical work, which only reached depths of approximately 80-90 meters. By utilising modern pole-dipole IP technology, Godolphin aims to map chargeability anomalies at greater depths, potentially identifying new drill targets along the Lewis Ponds deposit trend.
"The start of this IP survey marks an exciting step forward for the next phase of exploration initiatives at Lewis Ponds," said Managing Director Jeneta Owens. "The survey is designed to penetrate deeper than previous IP surveys in the area, targeting a 1km corridor to the south-east of the recently upgraded MRE."
The survey area encompasses several promising prospects, including:
- The southern continuation of the Lewis Ponds Deposit trend
- The Britannia Copper-Gold Prospect
- The Little Bell Copper-Gold Prospect
- An eastern IP chargeability feature potentially mapping a disseminated sulphide halo
Godolphin expects the survey to be completed within four weeks, with results informing the company's next drilling program focused on exploration target areas.
Understanding Induced Polarisation Surveys: A Key Tool for Discovery
Induced Polarisation (IP) surveys represent one of the most effective geophysical techniques for mineral exploration, particularly for deposits containing sulphide minerals like those at Lewis Ponds.
The technique works by sending electrical currents into the ground and measuring how rocks and minerals respond to these currents. Specifically, IP surveys measure two key properties:
- Chargeability: The ability of subsurface materials to store electrical charge, which is typically high in sulphide-rich areas
- Resistivity: How strongly materials oppose electrical current flow
At Lewis Ponds, the pole-dipole IP method being used involves placing electrodes along survey lines to transmit electrical current through the ground. By recording voltage differences at various points, geophysicists can create detailed subsurface maps showing potential zones of mineralisation.
This technique is particularly valuable for exploring volcanic-hosted massive sulphide (VHMS) systems like Lewis Ponds, as these deposits typically contain disseminated sulphides that respond strongly to IP surveys. By extending the survey depth significantly beyond the previous 90-meter limit, Godolphin has positioned itself to potentially discover mineralisation that remained undetected by historical exploration efforts.
Growing Resource Base with Multiple Development Pathways
The Godolphin Resources deep IP survey represents just one component of Godolphin's multi-faceted approach to advancing the Lewis Ponds project. The company recently announced a significant resource upgrade, demonstrating the project's robust potential:
Open Pit Resource: 2.88Mt (1.85Mt Indicated, 1.03Mt Inferred) @ 0.52g/t Au, 41.22g/t Ag, 1.52% Zn, 0.59% Pb, 0.12% Cu
- 48,000 ounces of gold
- 3.8 million ounces of silver
Underground Resource: 6.95Mt (3.16Mt Indicated, 3.79Mt Inferred) @ 1.89g/t Au, 76.48g/t Ag, 2.85% Zn, 1.71% Pb, 0.17% Cu
- 422,000 ounces of gold
- 17.1 million ounces of silver
Total Metal Content:
- 470,000 ounces of gold
- 20.9 million ounces of silver
- 241,000 tonnes of zinc
- 15,000 tonnes of copper
- 136,000 tonnes of lead
The expanded resource base demonstrates Lewis Ponds' potential as a significant polymetallic deposit, with particular strength in precious metals content. The company's recent exploration success has transformed the project from what was historically viewed as a base metals opportunity into a gold and silver-focused development opportunity with valuable base metal credits.
Near-Term Catalysts Set to Drive Value
Godolphin has outlined several pending catalysts expected to drive project advancement in the coming months:
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Completion of Scoping Mining Study: Underpinned by the recently announced MRE upgrade, this study will provide initial economic parameters for potential development scenarios.
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Ongoing Metallurgical Testwork: Focused on increasing gold and silver recovery rates while reinforcing low-cost development opportunities.
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Additional Drilling Program: Planned to further grow the resource base by testing known mineralisation and newly identified exploration target areas.
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IP Survey Results: Data from the current geophysical program will help delineate new drill targets and potentially expand the project's exploration footprint.
"We are confident that new data from the IP survey and other initiatives will further demonstrate Lewis Ponds' potential as a significant polymetallic gold rich VHMS system," noted Owens. "We look forward to updating the market as results from the IP survey and other workstreams become available."
Strategic Position in the Prolific Lachlan Fold Belt
Lewis Ponds benefits from its location within the world-class Lachlan Fold Belt of New South Wales, a region known for hosting significant gold, copper, and base metal deposits. The project sits just 15 kilometers east of Orange, providing excellent access to infrastructure and services.
The deposit itself is characterised as a polymetallic, stratabound, sulphide system interpreted as a volcanic-hosted massive sulphide (VHMS) style system. While historically viewed primarily through a base metals lens, Godolphin's 2020 review of historical data revealed significant gold and silver potential, which has since become the company's primary focus.
Godolphin controls a substantial land package in the region, with tenements covering 3,300 square kilometers of ground highly prospective for gold, silver, base metals, and rare earth elements. In addition to Lewis Ponds, the company's portfolio includes the Narraburra REE Project and the Yeoval Cu-Au and Mt Aubrey Au Projects.
Why Investors Should Watch Godolphin Resources
Godolphin Resources offers investors exposure to a diversified portfolio of critical and precious metals assets, with the Lewis Ponds project emerging as the company's flagship opportunity. Several factors make Godolphin particularly compelling at this stage:
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Resource Growth Potential: The recently upgraded resource establishes a solid foundation, with significant exploration upside still to be tested through the current IP survey and planned drilling programs.
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Precious Metals Focus: While Lewis Ponds offers valuable base metal credits, the company's pivot toward the gold and silver components creates potential for higher margins and expanded development options.
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Multiple Near-Term Catalysts: With the scoping study, metallurgical results, IP survey data, and additional drilling all expected in the near term, investors can anticipate consistent news flow and potential value-creating milestones.
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Strategic Commodity Mix: Godolphin's portfolio spans precious metals, base metals, and rare earth elements, providing diversified exposure to several of the most in-demand mineral sectors.
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Proven Exploration Success: Management has already demonstrated its ability to significantly expand the resource base through strategic exploration, with the potential for continued growth as new targets are tested.
As Godolphin advances its systematic exploration and development program at Lewis Ponds, the company appears well-positioned to build on its recent success and potentially establish the project as a significant polymetallic development opportunity in one of Australia's premier mining districts.
Ready to Explore Godolphin's Growing Gold Potential?
Discover how Godolphin Resources is systematically unlocking the value of its Lewis Ponds gold-silver project through advanced exploration techniques. With 470,000 ounces of gold already defined and multiple near-term catalysts on the horizon, now is the time to take a closer look at this emerging opportunity. Watch Godolphin's latest presentation to learn how their deep IP survey could reveal the project's true scale and investment potential.
