Godolphin Resources has announced superior metallurgical flotation test results from its Lewis Ponds project, producing high-grade zinc and lead-gold-silver concentrates that promise to enhance the project’s economic outlook.
- Two high-quality concentrates produced – zinc (>64% Zn) and lead-gold-silver (>31% Pb, >16.7 g/t Au, >1580 g/t Ag)
- Significant improvement in gold recovery and impurity rejection compared to 2018 tests
- Results to support imminent update of Mineral Resource Estimate (MRE) and Scoping Study
- Additional drilling planned to expand resource and test exploration targets
- Lewis Ponds positioned as a key polymetallic asset within Godolphin’s portfolio
Superior Concentrate Quality Achieved
Godolphin Resources Limited (ASX – GRL) has delivered a significant metallurgical milestone for its 100%-owned Lewis Ponds Gold, Silver and Base Metals Project in New South Wales. The company’s latest flotation test work has produced two distinct, high-quality concentrates – a clean zinc concentrate grading over 64% zinc, and a low-impurity, high-grade lead-gold-silver concentrate with more than 31% lead, 16.7 grams per tonne gold, and 1580 grams per tonne silver. These results mark a clear advancement over historical testing conducted in 2018, particularly with a notable uplift in gold recovery and enhanced rejection of impurities such as zinc in the lead concentrate.
Implications for Resource and Project Development
The improved metallurgical performance is expected to underpin several near-term value catalysts for Godolphin. Most immediately, the company plans to update its existing Mineral Resource Estimate (MRE) to incorporate these enhanced recoveries into the gold equivalent calculations. This updated resource will form the foundation for a Scoping Study currently underway, which will integrate the new metallurgical data and the pending resource update. The Scoping Study aims to provide a clearer economic assessment of the project’s viability and potential development pathways.
Expanding the Resource Base
Beyond the metallurgical advances, Godolphin is preparing for additional drilling campaigns to test known mineralisation and exploration targets south of the main Lewis Ponds resource. This drilling is designed to grow the resource base further, focusing on gold, silver, zinc, and copper mineralisation. The Lewis Ponds deposit, a polymetallic volcanic-hosted massive sulphide (VHMS) system, benefits from a rich drilling history with over 218 holes drilled to date, providing a robust geological framework for ongoing exploration and resource expansion.
Strategic Importance and Sustainability Commitment
Managing Director Jeneta Owens emphasised the strategic value of Lewis Ponds within Godolphin’s portfolio, highlighting the project’s potential to deliver significant value while aligning with the company’s commitment to sustainable development. The improved concentrate quality not only enhances marketability but also supports more efficient processing and potentially lower environmental impact. Godolphin’s focus on sustainability and community engagement remains a core pillar as the project advances towards development.
Looking Ahead
Additional metallurgical test work continues, including assessments of cyanide-accessible gold and gravity gold separation, which could further optimize recovery processes. As Godolphin moves towards finalising the updated MRE and Scoping Study, investors and stakeholders will be watching closely for how these technical improvements translate into project economics and development timelines.
Bottom Line?
Godolphin’s metallurgical breakthrough at Lewis Ponds sets the stage for a resource upgrade and a clearer path to project development.
Questions in the middle?
- How will the updated Mineral Resource Estimate affect the overall project valuation?
- What are the timelines and expected outcomes for the ongoing Scoping Study?
- Could further metallurgical testing unlock additional recovery improvements or processing efficiencies?