ASX-listed precious and base metals explorer, Godolphin Resources could be in line for a busy end of year after receiving encouraging assay results from a recent Quarry Lode RC drilling program at its Lewis Ponds Project in NSW. The company says it has identified zones of gold, silver and base metals mineralisation in four holes.
Some of the better results included an 8-metre hit grading 1.07 grams per tonne gold from 70m including a 1m intersection going 6.5 g/t gold with 172 g/t silver and 1.38 per cent lead.
Another 8m intersection came in at 1.1 per cent zinc from 70m and included a 1m hit gong 2.8 per cent zinc.
Godolphin says the drilling results confirm that mineralisation continues to the northwest and remarkably, that the mineralisation at Quarry Lode is still open along strike with the higher grades and thicker intervals intersected in two of the recently drilled holes.
The company is now planning a follow-up program to test the extent of mineralisation and will likely use a diamond drill core to complete this.
Elsewhere, at Godolphin’s high-grade Gundagai gold project, the company recently completed RC drilling of five out of 11 holes totalling 1,825 metres after historical data and rock chip sampling identified several walk-up drill targets.
The five holes were plunged across the Emu and Mantons prospects, which are tucked neatly inside the northern area of Gundagai.
Work at Emu was aimed at zeroing-in on the historically worked Emu gold mine, where previous rock chip assays identified grades of 386 g/t and 320 g/t gold from a pair of samples that contained visible gold. Work at the Manton prospect was aimed at testing historic workings along mineralised quartz veins.
Godolphin plans on sinking the final half a dozen holes across the Gundagai project in due course.
Godolphin Resources Managing Director, Jeneta Owens said: “The assay results from the Quarry Lode drilling at our Lewis Ponds Project demonstrate the potential to expand the current mineral resource. Mineralisation remains open to the north-west plus up and down dip, providing several opportunities for the Company to capitalise over the coming months.
Godolphin appears to be keen on testing more real estate in the prospective southern quadrant of the Lachlan Fold Belt, having recently submitted an exploration license to the NSW Government to conduct a review of a land packet that contains numerous old workings including the Morning Star mine that has been responsible for a healthy amount of the total gold discovered in the area.
Over the five-year grant period, Godolphin will seek to identify new targets and outline the structural controls of mineralisation across its proposed new tenement.
With drilling set to continue across a handful of underexplored targets at the Lewis Ponds and Gundagai Projects, things could get interesting for Godolphin in the lead up to Xmas. If the company is able to follow its recent results with a few wins across its new ground, the New Year could be just as interesting.
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