Included at 3c
GODOLPHIN RESOURCES (GRL)
This $15m gold& silver under-the-radar minnow is worth considering, backed by resource microcap Tony Locantro of Alto Securities.
GOLD AND SILVER POTENTIAL AT LEWIS PONDS HIGHLIGHTED BY HISTORICAL DRILL HOLES
Significant historical drill holes including 91m @ 2.3g/t gold, 79g/t silver, 3.3% zinc & 2.2% lead in TLPD-12 highlight the precious metal potential at Lewis Ponds
Re-modelling of the mineral resource at Lewis Ponds is curently in progress, focussing on areas with higher grade gold and silver grades
Lewis Ponds currently contains an estimated Mineral Resource of 20.24Mt @ 0.5g/t Au, 33.3g/t Ag, 1.5% Zn, 0.7% Pb & 0.1% Cu, which is classifed as Inferred and Indicated in accordance with JORC (2012)1
Godolphin Resources Limited (Godolphin, GRL or the Company) is pleased to announce that an extensive review of historical data has highlighted the substantial gold and silver potential at the Company’s high priority Lewis Ponds project, formerly considered a base metals project. Godolphin previously announced significant precious metals in recently defined soil anomalies at Lewis Ponds (see announcement 15 September 2020), and noted a follow up review of historical data, focussing on high-grade gold and silver lenses, would be undertaken. This work included remodelling of the existing Mineral Resource at Lewis Ponds in order to provide a better understanding of the distribution of the higher-grade gold and silver portions of the lenses, to define follow-up drill targets and facilitate preliminary financial modelling.
Pleasingly, the historical drill hole assays and cross sections (see below) highlighted a number of high-grade gold and silver intercepts, such as 91m @ 2.3g/t gold, 79g/t silver, 3.3% zinc & 2.2% lead (TLPD-12). Lewis Ponds is located on the same geological structure as Regis’ 2Moz McPhillamys gold project,2 and together with the recent soil survey results (which defined significant precious and base metal anomalies over a strike length of 1,300 metres), the historical results confirm there are high-grade gold and silver areas within the resource
Lachlan Fold Belt (LFB) in NSW is a world class gold precinct
• Godolphin 100% controls >3,000km2 of highly prospective LFB tenure
• Sandwiched between Cadia’s Ridgeway copper-gold mine - one of Australia’s largest and lowest cost gold mines operation - to the south and Alkane’s Boda copper-gold porphyry discovery to the north
• Historic mining precinct; previously considered a mature region, a spate of new discoveries have unearthed LFB as true elephant country
• Godolphin’s resources exceed most LFB junior explorers, using both gold only and gold equivalents
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