Godolphin Resources Limited (ASX:GRL) Reports High-Grade Drill Results
Exploration Results
Godolphin Resources Limited (ASX:GRL) has released assay results from the third diamond drill hole, GLPDD007, at its 100%-owned Lewis Ponds Gold & Silver Project in NSW. The hole returned 39.9 meters at 3.59 grams per tonne gold equivalent (AuEq) from a depth of 135.3 meters, including a high-grade core of 7.10 meters at 7.08 g/t AuEq. Additionally, the drill intercepted the Torphy’s Lode, suggesting potential to expand the existing mineral resource.
Project Expansion
The results from GLPDD007, along with previous high-grade intersections from GLPDD005 and GLPD006, indicate that the Spicer’s Lode extends closer to the surface than initially interpreted. This finding could enhance the development economics of the Lewis Ponds Project. The drill program, completed in late January 2025, comprised five drill holes totaling 1,094.8 meters. Assay results from the remaining holes, GLPDD008 and GLPDD009, are expected shortly.
Executive Comments
Managing Director Ms Jeneta Owens stated, “Results from the third hole of the Company’s Lewis Ponds drilling program have delivered more outstanding, high grade, results and further demonstrate the Project’s expansion potential, as well as the considerable mineral endowment of the deposit. Pleasingly, these assays show that the targeted Spicer’s Lode may not pinch near the surface as previously thought, illustrating the potential to increase resource tonnage close to the surface. In turn, positive results in this regard could positively impact the development economics of the Lewis Ponds Project. The Company expects assay results from the final two holes in the program in the coming weeks. We look forward to providing these results to the market.”
Motley Fool contributor Abbie Stokes 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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