Godolphin Resources has revealed a significant 21% increase in gold recovery at its Lewis Ponds Project through the integration of gravity recoverable gold processing, potentially enhancing the project’s already robust economics.
- 21% uplift in total gold recovery to 83% for Semi-Massive domain
- Gravity circuit inclusion ahead of flotation supported by metallurgical testwork
- Strong Scoping Study economics with 12-year mine life and low capital costs
- Upcoming 2,500m drilling campaign targeting resource expansion
- Coarse gold component confirmed, enabling improved processing strategies
Gravity Recovery Enhances Gold Yield
Godolphin Resources Limited (ASX:GRL) has announced a promising advancement in its Lewis Ponds gold, silver, and base metals project located in New South Wales. Recent metallurgical testwork demonstrated that incorporating a gravity recoverable gold (GRG) circuit ahead of the traditional lead flotation process results in a 21% increase in total gold recovery for the Semi-Massive (SEM) ore domain, lifting recovery rates to 83%. This marks a meaningful improvement over flotation-only methods and suggests a pathway to stronger project economics.
Implications for Project Economics and Development
The Lewis Ponds Project’s recent Scoping Study outlined a 12-year mine life with an initial throughput of 1.25 million tonnes per annum. Under base case metal price assumptions, the project boasts a pre-tax net present value (NPV) of AUD 481 million and a 24% internal rate of return (IRR), with upside scenarios pushing these figures substantially higher. The integration of gravity gold recovery could further enhance these metrics by improving gold extraction efficiency, reducing processing losses, and potentially lowering operational costs.
Metallurgical Insights and Processing Strategy
Detailed testwork revealed that approximately 30–33% of the total gold occurs as coarse particles larger than 75 microns, which are amenable to gravity separation. Knelson gravity tests on the SEM domain produced a high-grade concentrate with gold grades up to 51.3 grams per tonne, representing a 16-fold upgrade relative to feed grade and capturing up to 65% of the total gold. In contrast, the Disseminated (DIS) domain contains finer sulphide-hosted gold better suited to flotation, indicating that processing strategies will need to be tailored to ore domain characteristics.
Next Steps: Drilling and Further Optimisation
Godolphin plans to commence a 2,500-metre drilling campaign later this month aimed at resource expansion and testing geophysical targets. This drilling will support ongoing metallurgical studies and flowsheet optimisation, with the goal of refining the gravity flotation circuit and enhancing overall recovery. Management emphasises that these developments reinforce Lewis Ponds as a robust, polymetallic project with significant upside potential.
Context Within the Lachlan Fold Belt
Situated within the prolific Lachlan Fold Belt, Lewis Ponds has historically been considered a base metals project. However, recent exploration and metallurgical work have highlighted its substantial gold and silver potential. Godolphin’s strategic focus on critical minerals and metals aligns with broader trends in resource development, particularly as demand for clean energy transition materials grows.
Bottom Line?
With gravity recovery boosting gold yields, Godolphin’s Lewis Ponds project is poised for enhanced value creation as drilling and optimisation efforts advance.
Questions in the middle?
- How will the proportion of Semi-Massive versus Disseminated ore impact overall gold recovery and processing costs?
- What are the timelines and expected outcomes for the upcoming drilling campaign in terms of resource growth?
- How might fluctuating gold and silver prices influence the economic viability of incorporating gravity recovery?