Godolphin Resources has unveiled a suite of previously overlooked mixed metals and significant gold from a re-interpretation of soil samples pulled from its Lewis Ponds gold project in NSW. The company says its latest venture has led to the identification of more gold with coincident copper, barium, bismuth, molybdenum, tellurium and lead south of its main mineral resource.
Interestingly, Godolphin says the geochemical make-up of its re-interpretated soil samples is similar to that of the Regis Resource’s two-million-ounce McPhillamys gold deposit some 30 kilometres away.
The recent work follows on from a previous soil sampling program that was completed across the strike of the Lewis Ponds mineralisation. The initial survey was aimed at eking out gold and silver, among other elements. Both gold and silver were detected in the previous survey across a 1.3km strike length from an area south of Toms Mine. The survey unearthed a solid set of results including assays that graded up to 6.2 g/t gold and 26.1g/t silver.
Godolphin’s latest round of work that included the re-interpretation of these results discovered a handful of additional elements within the previously bagged samples.
The company says its recent work in the area has led to a significant uptake in its understanding of the geological setting and it is now planning on executing an infill and extensional soil sampling program to outline gold and copper mineralisation south of and to the northwest of the existing resource.
According to the company, the Lewis Ponds project boasts an inferred mineral resource estimate of 6.2 million tonnes grading 2 grams per tonne gold, 80g/t silver, 2.7 per cent zinc, 1.6 per lead and 0.2 per cent copper.
Godolphin Resources Managing Director, Jeneta Owens said:“The re-interpretation of our most recent multi-element soil sampling program at the Lewis Ponds Project has been a tremendous success. Not only does it significantly increase our understanding of the area, but we have also identified similar geochemical signatures to the two-million-ounce McPhillamy’s Gold Deposit. This is very encouraging and bodes well for planned exploration activities, aimed at the increasing the potential of the Lewis Ponds mineralisation.”
Elsewhere at its nearby Williams prospect, Godolphin has bagged up close to half of a 200 piece soil sampling program as it looks to target trends to the south east of the Lewis Ponds project. The company expects to have its Williams prospect sampling wrapped up by early next year.
According to Godolphin, the Williams area is nestled within a regional magnetic low feature that has similar characteristics to its Lewis Pond project and Regis Resources’ undeveloped McPhillamys gold deposit.
Historical rock chip sampling from Williams shows some impressive results including 12.65 g/t gold and the company says the mineralisation is associated with copper, zinc, lead, arsenic and silver, forming an anomaly about 1km long by 250m wide.
Godolphin boasts one of the largest exploration landholdings among other junior explorers in the Lachlan Fold Belt and if the company can follow up its re-interpreted soil sample results at Lewis Ponds with a solid set of numbers from sampling at its Williams prospect it may be set for a very interesting start to the new year.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
