Godolphin makes 43m gold hit in Lachlan Fold Belt

2021-04-27 14:56:28

ASX-listed treasured and base metals explorer, Godolphin Assets has returned additional encouraging assay outcomes from useful resource definition drilling at its Lewis Ponds polymetallic mission 15km east of Orange in NSW’s revered Lachlan Fold Belt area. The newest stand-out drill hit from the Orange-based firm’s second diamond gap at Lewis Ponds was 43.2 metres grading a median 1.82 grams per tonne gold, 14 g/t silver and 0.4 per cent zinc and lead mixed for a gold equal grade of two.36 g/t from 446m.

The broad intersection contained a trio of higher-grade cores together with 6m at 3.56 g/t gold, 11 g/t silver and 0.7 per cent zinc and lead mixed for a 4.23 g/t gold equal from 443m and 8m at 3.11 g/t gold, 32 g/t silver and 0.8 per cent zinc and lead mixed for a 4.27 g/t gold equal from 465m.

One other stable core got here in at 5m going 2.85 g/t gold, 24 g/t silver and 0.7 per cent zinc and lead mixed for a 3.72 g/t gold equal from 479m.

The intersections observe one other latest spectacular drill intercept from the primary diamond gap of 18.6m at a median grade of 1.38 g/t gold, 55 g/t silver, 5.4 per cent zinc and 1.8 per cent lead for a gold equal grade of 6.72 g/t from 72m.

Curiously, Godolphin says the most recent drill outcomes recommend the Lewis Ponds mineralisation appear to level to a extra McPhillamys-style gold system slightly than stratabound base steel sulphides.

Gold miner Regis Assets owns the McPhillamys mission, which is situated about 20km south of Lewis Ponds.

It hosts one in every of Australia’s largest undeveloped open-pittable gold assets and in 2019, Regis launched an ore reserve for the mission’s deposit of 60.8 million tonnes of ore going 1.04 g/t for two.02 million ounces of contained gold.

Godolphin just lately tabled an inferred mineral useful resource estimate for Lewis Ponds of 6.2 million tonnes of ore at a median grade of two.0 g/t gold, 80 g/t silver, 2.7 per cent zinc, 1.6 per cent lead and 0.2 per cent copper.

The cocktail of contained metals for the remodelled Lewis Ponds useful resource now stands at 398,000 ounces of gold, 15.9 million ounces of silver, 17,000 tonnes of zinc, 99,000 tonnes of lead and 11,000 tonnes of copper.

Godolphin’s just lately accomplished 3,300m diamond drilling program was aimed toward teasing out potential will increase within the northern Lewis Ponds mineral useful resource space at each the Tom’s Lode and Spicer’s Lode.

It was additionally designed to offer drill core composites for bench-scale metallurgical check work.

As well as, the drilling examined the potential footwall and hanging wall lodes as recognized by gold in soil anomalies, floor mapping and up to date RC drilling carried out by Godolphin.

Based on the corporate, the second diamond gap intersected footwall lodes that aren’t included within the present mineral useful resource estimate for Lewis Ponds and symbolize “important potential upside” to broaden the useful resource.

Historic mining and exploration at Lewis Ponds targeted predominantly on stratabound volcanogenic-hosted large sulphide, or “VMS” base steel fashions.

An in depth re-examination of the historic information by Godolphin, nevertheless, has recognized an affiliation between the dear metals and the bottom steel lodes, whereas monetary modelling exhibits the dear metals as being the main contributors to the contained steel values within the Lewis Ponds useful resource.

Subsequent RC and diamond drilling seems to point important gold enrichment within the northern, beforehand poorly drilled footwall portion of the Lewis Ponds system, in line with the corporate.

Is your ASX-listed firm doing one thing attention-grabbing? Contact: matt.birney@wanews.com.au

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