Godolphin Resources has revealed promising high-grade gold and copper assays from two new prospects outside its established Lewis Ponds resource, signaling significant potential for resource expansion.
- High-grade rock chip assays: up to 5.11g/t gold at Cesar, 5.78% copper at Britannia
- Both prospects lie outside current Mineral Resource Estimate boundaries
- Britannia coincides with a strong undrilled Induced Polarisation anomaly
- Historic workings present at both Cesar and Britannia prospects
- Planned geological mapping and geophysical surveys to define drill targets
Exploration Breakthrough at Lewis Ponds
Godolphin Resources Limited (ASX: GRL) has announced encouraging assay results from two newly identified prospects within its 100%-owned Lewis Ponds Gold, Silver and Base Metals Project in New South Wales. The Cesar and Britannia prospects, both situated outside the current Mineral Resource Estimate (MRE), have delivered high-grade rock chip samples that hint at significant untapped mineralisation potential.
At the Cesar Prospect, surface samples have returned gold grades as high as 5.11 grams per tonne, while Britannia has yielded copper assays up to 5.78%, alongside notable gold and silver values. These findings are particularly compelling given that both prospects host historic mining workings, suggesting a legacy of mineralisation that has yet to be fully explored or quantified.
Geophysical Insights and Historic Context
The Britannia Prospect is especially intriguing due to its coincidence with a robust Induced Polarisation (IP) chargeability anomaly, an established geophysical indicator of sulphide mineralisation. This anomaly, which remains undrilled, extends over a 300-meter strike length and is five times the background chargeability, underscoring the prospect’s potential as a new lens of mineralisation within the Lewis Ponds system.
Historic drilling at Britannia was limited and incomplete, with some holes intersecting shear zones consistent with copper mineralisation but lacking comprehensive assay data. This gap in exploration history presents a clear opportunity for Godolphin to target these zones with modern drilling techniques informed by the recent geophysical reprocessing.
Strategic Expansion Beyond the Known Resource
The Cesar Prospect, located approximately 700 meters west of the existing MRE, remains undrilled but shows promising surface mineralisation within altered volcanic rocks. The presence of gossanous material and quartz veining in rock chip samples suggests a fertile environment for gold deposition. Godolphin plans further detailed geological mapping and sampling to refine drill targets here.
These developments come against the backdrop of Lewis Ponds’ established JORC (2012) Inferred Resource of 6.20 million tonnes at 2.0 grams per tonne gold and 80 grams per tonne silver, among other base metals. The new prospects could materially enhance the scale and value of this resource, particularly as the company leverages modern geophysical techniques and historical data to guide exploration.
Looking Ahead: Exploration and Market Implications
Managing Director Jeneta Owens highlighted the significance of these findings, noting that the mineral system at Lewis Ponds is known for multiple mineralised lenses. The new high-grade assays outside the current resource boundary suggest the potential discovery of additional economic mineralisation. Upcoming deep IP surveys and further fieldwork at Cesar, Britannia, and nearby prospects like Little Bird and Mt Regan will be critical in defining the next phase of drilling and resource expansion.
For investors and industry watchers, these results reinforce Lewis Ponds as a dynamic project with evolving exploration upside. The combination of historic workings, strong geophysical anomalies, and high-grade surface samples positions Godolphin to potentially unlock new value in a well-established mining district.
Bottom Line?
Godolphin’s new discoveries at Lewis Ponds could redefine the project’s scale, setting the stage for a pivotal exploration campaign.
Questions in the middle?
- Will upcoming drilling at Britannia confirm the extent of sulphide mineralisation indicated by the IP anomaly?
- How representative are the high-grade rock chip assays of mineralisation at depth and continuity?
- What impact will these new prospects have on the next Mineral Resource Estimate update?