NSW-based Godolphin Resources’ maiden diamond drill hole from its Cyclops prospect has returned multiple zones of shear-hosted high-grade copper with coincident gold, silver and molybdenum mineralisation.
Godolphin says multiple intersections assaying greater than 1 per cent copper were included within a broader low envelope of mineralisation adjacent to the shear zones.
Highlight figures include 18m at 0.52 per cent copper, including 8m at 1.01 per cent from 118m and 4m at 1.75 per cent from 122m.
Mineralisation remains open along strike as well as up and down dip of the interpreted mineralised lodes.
A soil sampling program next to the prospect has identified anomalous copper immediately west of the maiden drill hole.
Godolphin is based in Orange and has tenements covering 3200 square kilometres in the central west region of NSW.
Cyclops is an historic prospect on the Yeoval tenement in the Lachlan Fold Belt which is a gold-copper and rare earth elements province.
Yeoval has more than 60 historic copper-gold mine workings along a 20km strike length. Its current mineral resource estimate, or “MRE” is 12.8 million tonnes at 0.38 per cent copper, 0.14 grams per tonne gold, 2.2 g/t silver and 120 parts per million molybdenum.
The first diamond drill at the historic Cyclops prospect was drilled 400m to the north of the Yeoval MRE and aimed as extending the mineralisation zones seen in exploration in the 1990s.
Godolphin says its results are “highly encouraging” and helped provide a better understanding of the mineralisation style.
Godolphin Managing Director, Jeneta Owens said: “These zones are all open in all directions, demonstrating the high exploration potential of the project. Initial assay results are similar to grades of other large mines in the region.”
The second hole in the two-hole 900m program was drilled 200m south of the MRE to test for possible southern extensions to mineralisation.
Godolphin said last month that the drill hole also returned copper, gold, silver and molybdenum mineralisation.
Assay results include 276m at 0.12 per cent copper from 128m, including 94m at 0.18 per cent copper from 208m and 10m at 0.56 per cent copper from 260m.
Godolphin Resources plans additional work over the coming months to identify further mineralisation, including a ground-based magnetic survey that will assist in the design of a follow-up drilling campaign to advance a potential resource at Cyclops.
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By Matt Birney
