NSW focused explorer Godolphin Resources has tabled rock chip assays from around historic workings at its Cyclops and Goodrich prospects with exceptional grade copper along with strong gold, silver, lead, molybdenum and zinc to boot.
Additional rock chip assays from old workings at the nearby Goodrich prospect also returned high grade copper with bonus molybdenum, again with elevated gold, silver, lead and zinc.
The company has wrapped up high resolution ground magnetic surveys across the Cyclops, Goodrich and Yeoval East prospects and infill soil sampling programs are being carried out across both the Goodrich and Yeoval East prospects. Godolphin aims to have this completed before the end of June.
Stellar results from Cyclops include a chip running at 3.87 per cent copper, 0.31 grams per tonne gold, 20.7g/t silver and 210 parts per million molybdenum. Another sample turned up an impressive 4.51 per cent copper, 11.2 g/t silver and 342 ppm molybdenum, plus a bonus 1270ppm zinc.
Importantly, the samples were taken from areas where there has been little or no historic drilling, providing a substantial drill target opportunity for Godolphin.
At Goodrich, rock chips returned 1.54 per cent copper, 0.15g/t gold, 7.67g/t silver and another contained 0.15 percent copper, 3320ppm molybdenum and 0.23 per cent lead suggesting a polymetallic source.
The company recently secured funding from the NSW New Frontiers Drilling Grant program and will be using the monies to launch a comprehensive drill program on all three prospects, which are part of its Yeoval project characterised by typical porphyry-style disseminated and vein-hosted copper sulphide mineralisation.
Godolphin has several emerging projects in NSW’s Lachlan Fold Belt – a world-class gold-copper province that hosts multiple Tier 1 mining projects.
The Yeoval porphyry project is located 70km northwest of Orange in central New South Wales and is underlain by prospective granites, granodiorites and volcanics. It boasts more than 60 historic mine workings within the project tenure and significantly, these all trend in a north-easterly direction along a whopping 20km strike length. Fortuitously, the company’s Yeoval project area is readily accessible via sealed and unsealed roads and is adjacent to the Molong–Dubbo railway line.
The Cyclops prospect, situated approximately 4km north of Yeoval exudes significant copper-gold porphyry potential with multiple zones of high-grade copper mineralisation with coincident gold, silver and molybdenum recently insected in a two-hole 900m diamond drill program. In addition, soil sampling adjacent to Cyclops has identified anomalous copper immediately west of one of the drill holes. Godophin says the new rock chip assays from Cyclops confirm significant copper mineralisation occurs around the old workings.
The historic workings at both Goodrich and Cyclops are located on mineralised structural trends in the metal-rich Naringla Granodiorite. The polymetallic nature of the assay results including molybdenum shows potential as historically molybdenum was never processed at the Goodrich Mine with copper and gold being the major ores extracted.
A 50m x 50m soil sampling program was recently completed at Yeoval East and a similar spaced program is now planned for the Goodrich prospect specifically over areas with no previous surface geochemistry. Importantly, it will target an area where copper mineralisation was intersected at depth by historic drilling but was not followed up.
Godolphin Resources Managing Director, Ms Jeneta Owens said: “As the world continues to transition to green technologies, copper will become pivotal. There will be a significant copper demand coupled with a dwindling supply, which is a major opportunity for Godolphin given the quality of the copper projects within our 100% owned portfolio.”
The explorer believes the ground’s potential for mineralisation was first brought to light through legacy mining operations in the late 1800s but modern exploration since has been sparse. Opportunity appears to be knocking.
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By Matt Birney
