Godolphin Resources is set to drill test its Gundagai South project with recent mapping and sampling pointing to some interesting looking ‘walk up’ gold targets. Recent field work has identified priority areas associated with historical mine workings at the Surprise North, Highway and Stoney Creek South prospects.
The Gundagai South project is located around 300 km southwest of Sydney in southern New South Wales. Godolphin owns a suite of projects across NSW’s revered Lachlan Fold Belt, the terrane that hosts the world-class North Parkes, Cowal and Cadia-Ridgeway mines and the recent Boda porphyry discovery.
Godolphin’s holdings across NSW cover more 3,000 km2 and already boast resources of 431,000 ounces of gold from the Mt Aubrey, Yeoval, and Lewis Ponds projects – the Gundagai tenure is southern most tenure within the company’s seven project areas.
Godolphin Resources Chief Executive Officer, David Greenwood, said: The key prospects identified at Gundagai South offer walk up drill targets for Godolphin. All prospects feature highly anomalous gold in soils and rock chips, with evidence of historical workings at all prospects.”
Godolphin’s NSW projects were spun out of ASX listed Ardea Resources when Godolphin listed on the ASX in late 2019. The company hasn’t wasted any time since then in getting a geological handle on this historical gold mining centre.
It has now mapped its Gundagai South tenure, identifying a series of historical gold workings extending over several square kilometres.
The company’s field work shows the mineralisation at Gundagai is associated with porphyry dykes intruded into the sedimentary and volcanic bedrock. Sheeted quartz veining within these dykes hosts high-grade gold mineralisation - the prime target for Godolphin’s planned drilling program.
Programs of soil sampling and rock chipping at Gundagai have turned up strong gold anomalies and have identified a series of priority targets over more than 2 km of strike, taking in the Surprise North, Stoney Creek and Highway prospects. These prospects are all associated with auriferous quartz veining and historical mine workings, which likely date back to the 1800s. Mapping of the underground workings at Highway have shown them to be far more extensive than first expected which bodes well for the upcoming exploration program.
Godolphin has lodged applications for the 750 metre RC program at Gundagai South which is now scheduled to commence in August 2020 and will follow on from the company’s program along strike at Gundagai North.
Alkane’s recent Boda copper-gold discovery in the Lachlan Fold Belt in NSW has caused something of a gold rush to the area in recent times and Godolphin looks to be well placed amongst the pack of hopefuls – many of whom do not have the square km’s that Godolphin is sitting on in what is arguably the hottest exploration region in Australia right now.
Is your ASX listed company doing something interesting? Contact: matt.birney@businessnews.com.au
