Godolphin Resources Advances Gold and Copper Strategy in Lachlan Fold Belt

Godolphin Resources Sharpens Its Focus: A High-Grade Gold and Copper Portfolio Takes Shape in the Lachlan Fold Belt

Godolphin Resources (ASX: GRL) has released an exploration strategy update outlining a focused, disciplined approach to the Godolphin Resources gold and copper exploration strategy in the Lachlan Fold Belt, advancing its portfolio across 1,841 square kilometres of exploration licences in New South Wales. The update details near-term field programmes at two priority projects, Mt Aubrey and Copper Hill East, while positioning the broader portfolio as a multi-target opportunity in one of Australia's historically productive mineral belts.

A Streamlined Company With a Clearer Direction

The strategy update follows a rationalisation of Godolphin's project portfolio during the first half of 2026. According to the announcement, the company completed the sale of the Gundagai Project in April and the Calarie Project in June, while progressing the proposed spin-out of the Narraburra Rare Earths Project into a separately listed entity, Matrix Critical Minerals Limited, via an initial public offering announced in May 2026.

The result, as described in the update, is a tighter structure with capital and technical resources directed toward the highest-value opportunities: the Lewis Ponds Gold-Silver Project, the Cousin Jack discovery, and the Gold-Copper Portfolio immediately north and east of Orange, NSW.

"This strategic repositioning aligns with our proposed name change to Orbit Resources Limited, reflecting a clear focus on advancing a high-quality portfolio of precious and base metal assets anchored by the Lewis Ponds Gold-Silver Project, the new Cousin Jack discovery, and a pipeline of highly prospective gold and copper exploration targets," said Jeneta Owens, Managing Director of Godolphin Resources.

The Foundation: Lewis Ponds and a Growing Portfolio

Before turning to the new exploration targets outlined in the update, it is worth noting the existing asset base underpinning the company. Godolphin's Lewis Ponds Gold-Silver Project carries contained Indicated and Inferred resources of 630,000 ounces of gold and 30.1 million ounces of silver, as reported in the company's December 2025 ASX announcement.

Surrounding Lewis Ponds, Godolphin's broader tenement package covers 3,038 square kilometres across the Lachlan Fold Belt, a geological province that hosts several of Australia's significant gold and copper deposits, including Newcrest's Cadia mine.

The Gold-Copper Portfolio detailed in this update adds 1,694 square kilometres across eight tenements, positioned near operating mines and advanced resource projects including Cadia, Boda-Kaiser, Spur and the Copper Hill Advanced Resource Project.

Understanding the Lachlan Fold Belt

What Is the Lachlan Fold Belt?

The Lachlan Fold Belt is a large geological province in New South Wales formed by tectonic activity over hundreds of millions of years. It is regarded as one of Australia's mineral-endowed terranes, hosting gold, copper, silver and base metals across numerous deposits.

Why Does This Matter to Investors?

Geological proximity to established deposits is a relevant consideration in early-stage exploration. When a company's tenements sit within the same geological setting, sharing similar rock types, structural controls and mineralising events as known deposits, the exploration targets may carry greater geological credibility than untested terranes.

Furthermore, Godolphin's projects sit within the Molong Volcanic Belt, the same geological domain hosting the Cadia mine, which the company has cited as supporting the prospectivity of its own targets.

Glossary of Key Terms

Two Priority Projects: Known Mineralisation, Clear Next Steps

According to the update, Godolphin has identified Mt Aubrey and Copper Hill East as its initial focus, selected on the basis of existing datasets, known mineralisation and defined drill targets.

Mt Aubrey Gold Project: Extending a High-Grade Epithermal System

The Mt Aubrey Gold Project is a 100%-owned low sulphidation epithermal gold deposit in the western portion of the Gold-Copper Portfolio. It carries an existing JORC 2012 Inferred Mineral Resource of 1.21 million tonnes at 1.61 g/t for 62,400 ounces of contained gold, as reported in the company's December 2019 announcement.

The deposit was historically mined by BHP between 1989 and 1991, producing 120,000 tonnes at 3.3 g/t gold via open pit methods. The operation used "free digging" techniques, meaning drill and blast was not required, and gold mineralisation in fresh rock was reportedly never extracted. The site was subsequently rehabilitated by BHP following completion of mining.

Godolphin's 2020 drilling programme, according to the company's April 2020 announcement, identified high-grade gold mineralisation extending beyond the historical pits:

These gold lodes remain open, according to the update, and are the primary focus for near-term aircore drilling.

The broader Mt Aubrey opportunity is defined by a 6 kilometre long demagnetised structural corridor that has been only sporadically tested. Historical surface sampling along this corridor has returned grades of up to 13.5 g/t and 8.44 g/t gold in quartz veins west of the historical pits, while a 3.5 kilometre eastward extension has returned up to 0.36 g/t and has not been drilled. Quartz veins north of the pit have assayed up to 2.25 g/t gold, also undrilled.

Two additional targets sit within the Mt Aubrey project area:

• Mt Aubrey Skarn Prospect: Located 8 kilometres north of the deposit, defined by a coincident gravity and magnetic high, a geophysical signature the company associates with copper-gold skarn systems. Godolphin has drawn a comparison to the Big and Little Cadia iron-copper-gold deposits. Geological mapping and sampling are planned as the next step.
• OW1 Prospect: Located 20 kilometres north of Mt Aubrey, where a historical grab sample returned 1.27 g/t gold in volcanic rocks. No systematic follow-up has occurred to date.

Copper Hill East Project: A Porphyry System in the Making

The Copper Hill East Project occupies 100%-owned ground within the Molong Volcanic Belt, less than 10 kilometres north of the Copper Hill Porphyry Deposit. The project hosts an 8 kilometre long copper-gold corridor on its western margin.

The Molong Volcanic Belt contains the Cadia mine, the Boda-Kaiser and Spur deposits, and Copper Hill itself. Godolphin's tenement sits within this same geological domain, further reinforcing the Godolphin Resources gold and copper exploration strategy in the Lachlan Fold Belt.

Turrawonga Porphyry Discovery

According to the company's October 2020 announcement, drilling at the Turrawonga Prospect intersected altered volcanic rocks intruded by narrow monzonite bodies, a feature associated with the outer margins of porphyry systems:

Diamond tail extensions of CHERC013 intersected a narrow monzonite porphyritic intrusion at 471.4 metres downhole, with hydrothermal veining carrying less than 0.5% copper sulphides, including chalcopyrite and bornite. This has been interpreted as an apophysis, a finger of mineralised rock extending from a concealed porphyry system at depth.

Age dating of these intrusions, reported in the company's February 2022 announcement, returned a date of 454 million years (plus or minus 13.3 million years), an age range the company states is compatible with major porphyry copper-gold deposits of the Molong Volcanic Belt, including Cadia, Copper Hill and Boda. Upcoming work will focus on integrating 2020-era datasets, including drilling, geological mapping, spectral data, magnetics and IP geophysics, to refine the exploration model at Turrawonga.

Other Copper Hill East Prospects

South of Turrawonga, several additional prospects sit within the 8 kilometre corridor:

Calula sits on the boundary between the Molong Volcanic Belt, prospective for porphyry-style copper-gold, and the Hill End Trough, prospective for VHMS-style gold-copper-silver mineralisation, the same geological setting as Lewis Ponds. However, the prospect has not been tested with modern electrical geophysics such as IP or electromagnetic surveys, despite an 8 kilometre defined mineralised trend and anomalous sampling across northern, southern and eastern sectors.

Central Project Area: Three Additional Prospects Awaiting First-Pass Work

Between Mt Aubrey and Copper Hill East, Godolphin has identified a Central Project Area with three prospects scheduled for geological mapping and sampling:

1. Auri Prospect: Quartz veins in granite outcrop grading up to 1.8 g/t gold. No modern systematic exploration has taken place.
2. Sorrento Prospect: Copper-gold mineralisation in quartz veins on the margins of an intrusive body, with a grab sample returning 0.25 g/t Au and 0.94% Cu. Further sampling is planned.
3. CM1 Prospect: A 70m by 70m magnetic anomaly in Silurian basement, interpreted as a conceptual porphyry-style target. It has not been drill tested.

Near-Term Catalysts: What to Watch For

According to the announcement, field work is set to commence immediately, with results expected in the coming months. The activity schedule outlined in the update is summarised below:

The Investment Thesis: Multiple Targets Across a Proven Belt

The strategy update outlines an investment case built on several complementary factors. In essence, the Godolphin Resources gold and copper exploration strategy in the Lachlan Fold Belt is designed to deliver multiple catalysts across a rationalised, geology-driven portfolio.

A de-risked, focused portfolio. The divestment of non-core assets and the proposed spin-out of the Narraburra rare earths project has resulted in a tighter portfolio, according to the update, with capital and technical effort directed toward gold and copper opportunities rather than spread across disparate commodity themes.

A resource base anchoring the portfolio. The Lewis Ponds Gold-Silver Project provides a resource foundation of 630,000 ounces of gold and 30.1 million ounces of silver, from which development activities are being progressed while exploration generates further optionality.

Known mineralisation with defined upside. Both Mt Aubrey and Copper Hill East carry established drill results, historical production data and identified structural and geophysical targets, distinguishing this work from purely greenfield exploration.

Geological proximity to established deposits. Operating within the same belt as Cadia, Copper Hill and Boda-Kaiser is a factor the company has highlighted as relevant to its exploration approach, particularly at Turrawonga, where age dating and alteration characteristics align with the established regional framework.

Lower-cost exploration methods. The use of aircore drilling at Mt Aubrey and ground-based geological programmes at Copper Hill East represent an approach intended to advance targets toward drill decisions before committing to more extensive programmes.

Breadth across the portfolio. Eight prospects spanning approximately 1,700 square kilometres, including Mt Aubrey, Copper Hill East, Calula, Three Rivers, Lyons, Auri, Sorrento and CM1, provide multiple avenues for exploration activity across the tenement package.

Why Investors Should Keep Watching Godolphin Resources

The current period marks a stated inflection point for Godolphin, with the portfolio rationalisation completed and field programmes commencing immediately across priority targets. The proposed name change to Orbit Resources Limited signals management's stated commitment to this repositioned direction.

Consequently, the Godolphin Resources gold and copper exploration strategy in the Lachlan Fold Belt represents a clearly articulated, geology-first approach that combines an established resource base with a diversified pipeline of targets, all situated within one of Australia's most productive mineral provinces.

Key Takeaway: Godolphin Resources has repositioned itself as a focused gold and copper explorer in the Lachlan Fold Belt, underpinned by the 630,000 ounce gold and 30.1 million ounce silver Lewis Ponds resource and a pipeline of eight active targets across approximately 1,700 square kilometres. With aircore drilling at Mt Aubrey and porphyry-focused work at Copper Hill East commencing immediately, field results are expected in the coming months across a portfolio situated near Cadia, Copper Hill and Boda-Kaiser.

Ready to Dig Deeper Into Godolphin Resources' Gold and Copper Strategy?

With aircore drilling at Mt Aubrey imminent, a porphyry system taking shape at Copper Hill East, and a resource base of 630,000 ounces of gold underpinning the portfolio, Godolphin Resources (ASX: GRL) is entering an active exploration period across one of New South Wales' most prospective mineral belts. For investors looking to understand the full scope of the company's repositioned portfolio — including its eight active targets spanning approximately 1,700 square kilometres — watch the latest company update here and see why Godolphin's management believes this is a defining moment for the business.