Godolphin Discovers Major New Zinc-Copper-Lead Sulphide System at Lewis Ponds

Maiden Drillhole Reveals Substantial New Polymetallic Sulphide System

Godolphin Resources Limited (ASX:GRL) has announced a major new discovery at its Lewis Ponds project in New South Wales, intersecting a broad, polymetallic sulphide system with high-grade zinc, copper, lead, silver, and gold mineralisation. The first drillhole into the newly named Cousin Jack Prospect, GLPRCDD003, has delivered over 300 metres of mineralised sulphides across three distinct domains, confirming the presence of a large-scale sulphide system beyond the existing Lewis Ponds Mineral Resource.

Three Sulphide Domains with Significant High-Grade Intervals

The drillhole, positioned approximately 350 metres southeast of the established Lewis Ponds resource, intersected an Upper Domain (79m at 1.3% ZnEq), a Middle Domain (86m at 0.6% ZnEq), and a Lower Domain (104m at 1.3% ZnEq), each containing internal high-grade lodes. Highlights include intervals such as 15m at 2.8% ZnEq and 5m at 4.1% ZnEq in the Upper Domain, and a standout 1.7m section grading 13.1% ZnEq in the Lower Domain. These grades meet or exceed the 1.8% ZnEq cut-off used in the recent Lewis Ponds Scoping Study, indicating potential for future open pit resource inclusion subject to further drilling.

Large IP Chargeability Anomaly Guides Exploration Strategy

The Cousin Jack Prospect aligns with a 1.6-kilometre-long by over 500-metre-deep Induced Polarisation (IP) chargeability anomaly, previously identified as the "Zinc Lode" Exploration Target. This geophysical signature is now confirmed to correspond with significant sulphide mineralisation, predominantly pyrrhotite-associated, which is both conductive and magnetic. This association opens up new exploration avenues including downhole electromagnetic (DHEM) surveys and high-resolution airborne magnetic surveys to rapidly identify and prioritise further massive and semi-massive sulphide accumulations within the broader target area.

Geological and Metallurgical Context Supports Economic Potential

The mineralisation occurs within a volcanogenic sulphide system hosted by interbedded siltstones and quartz-sulphide veins, with strong alteration and deformation. Metallurgical test work completed in 2025 demonstrates favourable recoveries for gold (64.7%), silver (71.8%), zinc (93.1%), lead (73.4%), and copper (68.9%), supporting the polymetallic nature and potential economic viability of the deposit. The discovery of multiple broad sulphide domains with internal high-grade lenses provides a compelling case for resource growth at Lewis Ponds.

Next Steps to Expand and Define Resource Potential

Godolphin plans to advance exploration with further drilling to assess grade and thickness continuity, alongside geophysical programs including DHEM and drone magnetics surveys. The company is also addressing recent weather-related delays impacting drilling progress. Managing Director Jeneta Owens emphasised the significance of the discovery, noting it validates the prioritisation of the Zinc Lodes target and enhances the broader project's potential beyond the current resource base. With the Cousin Jack discovery, Lewis Ponds stands poised for substantial resource expansion and future mine development opportunities.