Godolphin Flags Talc Pre-Flotation to Sharpen Lewis Ponds Concentrate Grade

Talc Dilution Pinpointed as Key Processing Bottleneck

Godolphin Resources (ASX:GRL) has uncovered a straightforward yet potentially game-changing metallurgical insight at its Lewis Ponds Project in NSW. A detailed mineralogical assessment by ALS Canada identified talc as the dominant non-valuable gangue mineral diluting the lead concentrate, accounting for roughly 19% of its mass and over 90% of the non-sulphide gangue.

Talc’s natural hydrophobicity means it reports readily to flotation concentrates, undermining concentrate grade and circuit efficiency. Godolphin’s study suggests that introducing a talc pre-flotation step ahead of the lead circuit could reduce this dilution dramatically, potentially lifting lead concentrate grade from about 33% to more than 60%.

Boosting Precious Metals Recovery Through Improved Selectivity

The implications extend beyond lead. Silver, gold, and copper, closely associated with sulphide minerals in the lead concentrate, stand to benefit from improved lead recovery and circuit selectivity. Although the sample size limited direct gold assessment, its close linkage to silver mineralisation suggests similar upside for gold recovery.

Mineralogical liberation data supports this optimism, showing that approximately 82% of galena (lead), 85% of copper sulphides, and 65% of silver minerals are present in a recoverable form. This indicates that the current process inefficiency stems largely from gangue entrainment rather than loss of valuable minerals.

Flowsheet Refinement Could Strengthen Project Economics

These findings dovetail with Godolphin’s recent scoping study, which already paints a robust economic picture for Lewis Ponds. The study envisages a 12-year mine life at 1.25Mtpa throughput, with a pre-tax NPV of AUD$481 million and IRR of 24% under base case commodity prices, and an upside case NPV exceeding AUD$1 billion with a 40% IRR.

Incorporating talc pre-flotation could further improve concentrate quality and metal recoveries, potentially enhancing these already strong metrics. The Company plans to integrate this mineralogical insight into ongoing metallurgical programs, beginning with laboratory-scale talc pre-flotation tests using fresh drill samples, followed by flowsheet optimisation studies.

Project Background and Next Steps

Lewis Ponds is a polymetallic volcanic-hosted massive sulphide (VHMS) system with a December 2025 JORC Resource of 17.52Mt grading 1.12g/t Au, 53.34g/t Ag, 2.06% Zn, 1.10% Pb, and 0.14% Cu, positioning it as a significant gold and silver-rich deposit in the Lachlan Fold Belt.

Godolphin’s Managing Director Jeneta Owens emphasised the practical nature of the talc pre-floatation pathway, highlighting its potential to materially improve flotation performance and project economics. The Company will continue refining the processing flowsheet to maximise recoveries across the deposit.

This announcement follows Godolphin’s recent major new zinc-copper-lead discovery at Lewis Ponds, underscoring the project’s evolving potential. Meanwhile, metallurgical testwork and drilling programs remain active, supported by recent capital raises and strategic partnerships.