- Godolphin Resources (GRL) has intersected up to 118g/t silver from its Lewis Ponds Project in NSW
- Throughout January, the company undertook a reverse circulation drilling program to test areas identified via a previous soil survey
- Three holes tested areas of elevated gold-in-soils while two holes tested an area with limited drill data
- Mineralisation remains open to the north and Godolphin will undertake additional drilling programs to further test the area
- Godolphin has ended the day in the grey with shares trading at 19 cents
Godolphin Resources (GRL) has intersected up to 118g/t silver from its Lewis Ponds Project in NSW.
The 148 square kilometre Lewis Ponds Project lies 15 kilometres east of Orange and has a mineral resource estimate (MRE) of 6.2 million tonnes at 2.0g/t gold, 80g/t silver, 2.7 per cent zinc, 1.6 per cent lead and 0.2 per cent copper.
Throughout January, Godolphin undertook a reverse circulation (RC) drilling program to test areas identified via a previous soil survey.
Three holes tested areas of elevated gold-in-soils while two holes tested an area with limited drill data.
Best results come from the Quarry Lode discovery where results of eight metres at 2.7g/t gold and 118g/t silver from 136 metres and eight metres at 2.85g/t gold and 30g/t silver from 122 metres were returned.
The mineralisation remains open to the north and Godolphin will undertake additional drilling programs to further test the area.
Significant mineralisation was also intersected at the Bellmore Lode where up to two metres at 0.04g/t gold, 24g/t silver, 2.7 per cent zinc and 3.1 per cent lead from 74 metres was intersected.
“These excellent initial RC results testing gold-in-soil anomalies, some of which are outside the MRE at Lewis Ponds, provide significant confidence in proving up additional resources at Lewis Ponds and we will undertake follow-up drilling as soon as practicable,” CEO David Greenwood said.
Godolphin has ended the day in the grey with shares trading at 19 cents in a $15.97 million market cap.