Lewis Ponds Resource Grows: New IP Target and 27.6% Zinc Surface Sample Reported

Exploration Breakthrough at Lewis Ponds

Godolphin Resources Limited (ASX, GRL) has announced a promising new chapter in its Lewis Ponds gold, silver, and base metals project in New South Wales. The company’s recent induced polarisation (IP) survey has revealed a strong chargeability anomaly located approximately 1,000 metres northwest and along strike from the existing Lewis Ponds deposit. This discovery suggests the potential for significant mineralisation extensions beyond the current resource boundaries.

Complementing the geophysical data, surface rock chip sampling has returned encouraging high-grade results. Notably, a narrow gold-bearing zone in the footwall of the deposit yielded assays up to 1.34 grams per tonne (g/t) gold. Meanwhile, at the Mt Regan Prospect, historical mine workings produced exceptional zinc and copper grades of 27.6% and 10.8%, respectively. These findings underscore the multi-commodity potential of the project.

Strategic Drilling and Scoping Study on the Horizon

Godolphin is preparing to advance exploration with a planned drilling program comprising five holes totalling approximately 2,500 metres. Scheduled to commence in March 2026, subject to regulatory approval, this campaign will target the newly identified northern IP anomaly and other high-priority zones outside the existing mineral resource estimate (MRE). The drilling aims to validate the geophysical targets and potentially expand the known resource base.

Meanwhile, the company anticipates finalising a mining scoping study this month, which will provide further clarity on the economic prospects of Lewis Ponds. With an existing JORC (2012) resource of 17.52 million tonnes grading 1.12 g/t gold, 53.34 g/t silver, 2.06% zinc, 1.10% lead, and 0.14% copper, Lewis Ponds is already a substantial asset. The new exploration data could enhance this position significantly.

Geological Insights and Future Potential

Managing Director Jeneta Owens highlighted the importance of the recent findings, noting that the IP survey results align well with the company’s geological model. The chargeability anomalies correspond to zones of disseminated sulphide mineralisation, which are often associated with valuable base metals and precious metals. The fact that historical geophysical surveys were depth-limited but still correlated strongly with known mineralisation gives confidence that modern techniques and targeted drilling can unlock further extensions both north and south of the deposit.

Additional geological mapping and sampling are underway to better understand mineralisation controls and grade distribution, particularly at the newly discovered gold zone in the footwall and the Mt Regan Prospect. These efforts aim to bring these targets to drill-ready status, potentially adding new dimensions to the project’s resource profile.

A Multi-Commodity Asset in a Premier Jurisdiction

Located within the Lachlan Fold Belt, a world-class mineral province, Lewis Ponds benefits from established infrastructure and a supportive regulatory environment. Godolphin’s commitment to sustainability and community engagement further strengthens its position as it advances exploration and development activities.

The combination of high-grade surface samples, compelling geophysical anomalies, and a robust existing resource base positions Lewis Ponds as a high-quality asset with considerable upside potential. Investors will be watching closely as drilling results and the scoping study unfold in the coming months.