Godolphin uncovers major new sulphide discovery at Lewis Ponds

Godolphin Resources (ASX: GRL) has unveiled a significant new zinc, copper, lead, silver, and gold discovery at its Lewis Ponds Project in New South Wales, with the company’s maiden drill hole intersecting more than 300 metres of mineralised sulphide domains and confirming the emergence of a new prospect, Cousin Jack.

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The discovery sits around 350 metres southeast of the existing Lewis Ponds Mineral Resource and is the first hole drilled into a large 1.6km long target known as the Zinc Lodes exploration target. The standout result came from the lower domain, which returned 104 metres at 1.3% zinc equivalent from 527 metres.

Management said the discovery demonstrates the capacity of the anomaly to host additional mineralised lenses beyond the existing Lewis Ponds resource and materially enhances the exploration potential of the broader project area.

Importantly, Cousin Jack exceeded the open-pit cut-off grade defined in the Lewis Ponds Scoping Study, where an economic cut-off of ~1.8% zinc equivalent was established. While further drilling is required to confirm continuity, the company believes the grades have the potential to support future resource growth.

The newly identified mineralisation is dominated by pyrrhotite and is closely associated with zinc, copper, lead, silver and gold, creating a strong geophysical signature that management believes will significantly improve future targeting.

Godolphin plans to undertake downhole electromagnetic surveys and high-res airborne magnetic surveys to identify additional massive sulphide accumulations and prioritise future drill targets across the 1.6km-long IP anomaly.

Godolphin also noted that the existing Lewis Ponds deposit already hosts a JORC 2012 Mineral Resource of 17.52 million tonnes, including 9.09 million tonnes in the indicated category and 8.43M tonnes inferred, grading 1.12g/t gold, 53.34g/t silver, 2.06% zinc, 1.10% lead, and 0.14% copper.

With additional drilling, geophysical surveys and follow-up exploration planned, the company believes Cousin Jack has the potential to expand the Lewis Ponds resource base and unlock a new phase of growth.

GRL is up more than 6% today, last trading at $0.17/sh.

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