Copper Discovery Could Shift Lewis Ponds Project’s Commodity Focus and Risk Profile
Godolphin Resources has identified significant new copper and polymetallic zinc exploration targets adjacent to its existing Lewis Ponds resource, setting the stage for a Mineral Resource Estimate update and drilling campaign in 2026.
- New copper-dominant lodes estimated at 3-5 million tonnes grading 1.0-1.5% copper
- Polymetallic zinc lodes with gold equivalent grades between 1.42-2.46 g/t AuEq identified
- Exploration Targets extend 1.3 km southeast of existing Mineral Resource Estimate
- Upcoming Mineral Resource Estimate update incorporating recent drilling results
- Drilling planned for Q1 2026 following metallurgical test work and scoping study
Exploration Targets Signal New Growth Potential
Godolphin Resources Limited (ASX – GRL) has announced the definition of new Exploration Targets at its 100%-owned Lewis Ponds gold, silver, and base metals project in New South Wales. These targets, located immediately southeast and adjacent to the existing JORC (2012) Inferred Resource, highlight the potential for significant expansion beyond the current 6.2 million tonnes at 2.0 g/t gold and 80 g/t silver resource.
The company’s technical team, supported by reprocessed historical geophysical data, has identified two distinct sectors – copper-enriched lodes and polymetallic zinc lodes. The copper lodes are estimated to contain between 3 and 5 million tonnes grading 1.0% to 1.5% copper, while the zinc lodes are estimated at a similar tonnage range with gold equivalent grades of 1.42 to 2.46 g/t AuEq, incorporating gold, silver, zinc, lead, and copper.
Geophysical Data and Historical Drilling Underpin Targets
These Exploration Targets are supported by a comprehensive review of historical drilling data exceeding 67,000 metres, alongside reprocessed Induced Polarisation (IP) and Downhole Electromagnetic (DHEM) surveys. The IP data revealed a 1.6-kilometre southern extension of chargeability anomalies consistent with mineralisation, while DHEM identified six significant off-hole conductor plates outside the current resource boundary.
High-grade rock chip samples from new prospects outside the existing resource, including assays of 5.11 g/t gold and 5.78% copper, further bolster the case for resource growth. The targets remain conceptual at this stage, with Godolphin emphasizing the need for additional drilling to confirm mineralisation continuity and economic viability.
Pathway to Resource Update and Development
Godolphin is progressing an updated Mineral Resource Estimate (MRE) that incorporates results from its latest drilling campaign, expected to be completed in the coming weeks. Concurrently, metallurgical test work is underway to optimise gold and silver recoveries, building on prior studies that demonstrated recoveries of 60% for gold and 79% for silver.
A scoping-level mining study is scheduled for completion in the fourth quarter of 2025, with follow-up drilling planned for the first quarter of 2026. This staged approach aims to refine the project’s economic parameters and unlock the full potential of both the copper and polymetallic sectors within the Lewis Ponds tenure.
Strategic Importance within the Lachlan Fold Belt
Situated within the prolific Lachlan Fold Belt, the Lewis Ponds project benefits from a rich mining history dating back to the 1800s. The deposit is a volcanic-hosted massive sulphide system, historically mined for zinc, lead, gold, and silver. Godolphin’s discovery of copper-enriched lodes could transform the project’s commodity focus, enhancing its appeal amid rising demand for copper in clean energy technologies.
Managing Director Jeneta Owens highlighted the conservative nature of the Exploration Target estimates and noted additional upside potential from other copper prospects such as Britannia and Mt Nicholas, located several kilometres to the southeast. The company’s commitment to sustainability and responsible development underpins its strategy to deliver value for stakeholders while contributing to Australia’s clean energy transition.
Bottom Line?
With new copper and polymetallic targets defined, Godolphin is poised to reshape Lewis Ponds’ resource profile and attract renewed market interest.
Questions in the middle?
- How will the upcoming Mineral Resource Estimate update impact Godolphin’s valuation and project economics?
- What are the expected timelines and capital requirements for advancing the copper lodes through drilling and feasibility studies?
- Could the inclusion of additional copper prospects like Britannia and Mt Nicholas materially increase the project’s scale and strategic importance?