Godolphin Resources Limited (ASX:GRL) Reports New Drill Results
Drilling Progress
Godolphin Resources Limited (ASX: GRL) has announced the completion of its third drill hole, GLPDD007, at the Lewis Ponds gold, silver, and base metals project. This hole intersected 37 meters of massive to semi-massive sulphide mineralisation. This follows another significant intersection of 40 meters in the previous drill hole, GLPDD006.
The GLPDD007 drill hole is positioned approximately 40 meters up dip from historic drill hole TLPD-04, which reported 22.5 meters at 8.46g/t Au equivalent. The ongoing drilling aims to upgrade the current Inferred Resource of 6.20 million tonnes at 2.0g/t gold, and will support potential metallurgical test work slated for early 2025.
Future Outlook
The current 1,500-meter drilling program will enhance understanding of the mineralised body and is expected to provide crucial core samples. Visual estimations indicate the potential for mineralisation to thicken closer to the surface, which contradicts previous interpretations.
Managing Director Jeneta Owens stated, “These intercepts confirm Godolphin’s objective for the drilling program and will provide further insight into the economic potential of the deposit.” She emphasised the significant potential of the Lewis Ponds Project given the proximity of the newly intersected mineralisation to historical high-grade results.
Assay Results and Next Steps
Core samples from the recent drilling will be assayed, with results anticipated in late January 2025. The drilling strategy is designed to provide valuable data to enhance the current mineral resource estimation process.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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