Godolphin Resources Unveils Massive Sulphide Hits and Rare Earth Breakthroughs
Godolphin Resources reports significant drilling success at Lewis Ponds with thick massive sulphide intersections and advances its Narraburra Rare Earths project with high-value carbonate samples, supported by a strong capital raise.
- 1,500m diamond drilling at Lewis Ponds yields 40m and 37m massive sulphide intersections
- Narraburra Rare Earths project produces high-grade Mixed Rare Earth Carbonate samples rich in Terbium and Dysprosium
- Capital raise of $614,000 via Share Purchase Plan exceeds target, following a $1.2m placement
- Drilling results expected soon to upgrade JORC resource confidence and support metallurgical testing
- New Non-Executive Director Chris Gibbs appointed, bringing extensive global mining leadership
Lewis Ponds Drilling Delivers Promising Sulphide Intersections
Godolphin Resources Limited (ASX: GRL) has kicked off 2025 on a strong footing with the completion of a 1,500-metre diamond drilling program at its 100%-owned Lewis Ponds Gold, Silver and Base Metals project in central New South Wales. The program has already yielded substantial intersections of massive to semi-massive sulphide mineralisation, including a 40-metre intercept in drill hole GLPDD006 and a 37-metre intercept in GLPDD007. These results are particularly encouraging as they target the upper portions of the existing JORC 2012 Inferred Resource, aiming to upgrade confidence levels and provide fresh core for metallurgical testing.
Located just 15 kilometres east of Orange, Lewis Ponds hosts a significant resource estimated at 6.20 million tonnes grading 2.0 g/t gold, 80 g/t silver, and notable base metals including zinc, lead, and copper. The recent drill holes intersected thick sulphide zones within the Spicer's lode, with mineralisation appearing to thicken closer to surface, an interpretation that challenges previous assumptions and could enhance the project's economic potential.
Narraburra Rare Earths Project Advances with High-Quality Carbonate Samples
Parallel to the Lewis Ponds drilling success, Godolphin has made strides at its Narraburra Rare Earth Elements (REE) project. Metallurgical test work conducted by the Australian Nuclear Science and Technology Organisation (ANSTO) has produced two Mixed Rare Earth Carbonate (MREC) samples exhibiting high concentrations of critical rare earth elements Terbium (Tb) and Dysprosium (Dy). These elements are highly valued for their applications in clean energy technologies, and the Narraburra samples contain levels surpassing those reported from many other clay-hosted REE projects.
The second MREC sample underwent an additional ion exchange purification step, dramatically reducing uranium impurities to just 7 ppm, which positions Narraburra advantageously for potential off-take agreements. This cleaner product underscores the project's commercial viability and is expected to catalyse industry engagement in the coming months.
Strong Shareholder Support Fuels Exploration Momentum
Godolphin's exploration activities have been underpinned by robust financial backing. During the quarter, the company completed a $614,000 capital raise through a Share Purchase Plan (SPP), more than doubling its initial $300,000 target. This followed a well-supported $1.2 million placement in the previous quarter, reflecting strong shareholder confidence in the company's multi-commodity strategy. The funds provide critical flexibility to advance drilling and metallurgical programs, particularly at Lewis Ponds.
Additionally, the appointment of Mr. Chris Gibbs as a Non-Executive Director brings nearly three decades of global mining expertise to Godolphin’s board. Mr. Gibbs’ leadership experience, including his current role as CEO of American Rare Earths Limited and prior executive positions at major mining companies, is expected to bolster the company’s strategic development, especially in the rare earths sector.
Looking Ahead: Assays and Metallurgical Testing to Define Next Steps
With drilling now nearing completion, Godolphin anticipates assay results from the initial holes imminently. These results will be pivotal in confirming the extent and grade of mineralisation and will inform a planned metallurgical test work program aimed at producing precious and base metal concentrates. Meanwhile, the Narraburra project’s metallurgical advances set the stage for potential commercialisation discussions.
As Godolphin moves into 2025, it stands at a transformational juncture with multiple value-accretive workstreams across its portfolio. The combination of promising drilling outcomes, high-quality rare earth samples, and strong financial support positions the company well to capitalise on favourable market conditions for gold, base metals, and critical minerals.
Bottom Line?
Godolphin’s upcoming assay results and rare earths off-take talks will be key to unlocking shareholder value in 2025.
Questions in the middle?
- Will the upcoming assay results confirm a significant upgrade to the Lewis Ponds resource classification?
- How will the rare earths market respond to Narraburra’s high-grade, low-impurity MREC products?
- What strategic moves might Godolphin pursue to extend its funding runway beyond the next 1.6 quarters?
