Godolphin Resources (ASX:GRL) has confirmed significant copper-gold porphyry mineralisation at its Goodrich Project in New South Wales.
Results include diamond drill hole GGDD004 returning 136.55m @ 0.32% copper (Cu), 0.16 grams per tonne gold (Au), and 43g/t molybdenum (Mo) from 81.45m.
The hole included a ‘high-grade’ zone of 3.55m @ 2.8% Cu, 0.18g/t Au, and 48g/t Mo from 81.45m. The mineralised interval begins at 81.45m downhole, demonstrating the near-surface nature of the system.
Additional intervals within GGDD004 include 26m @ 0.52% Cu, 0.24g/t Au, and 51.6g/t Mo from 102m; 12m @ 0.45% Cu, 0.36g/t Au, and 91.9g/t Mo from 131m; and 5m @ 0.66% Cu, 0.49g/t Au, and 191.8g/t Mo from 158m.
A second hole, GGDD003, intersected 52.97m @ 0.20% Cu, 0.02g/t Au, and 42.9g/t Mo from 29.15m, including 4.75m @ 0.56% Cu, 0.04g/t Au, and 404.4g/t Mo.
“These results provide compelling evidence for the presence of a mineralised copper-gold porphyry system at Goodrich and validate our exploration model,” Managing Director Jeneta Owens says.
“The broad, near-surface mineralised interval intersected in GGDD004 demonstrates the scale potential of the system, while the presence of mineralised UST [unidirectional solidification textures] textures supports the interpretation that we are exploring a fertile porphyry environment.”
Drilling comprised four diamond holes totalling 1,019.76m across the Goodrich and Mt Rose prospects.
GGDD004 intersected disseminated chalcopyrite and pyrite within a monzonite porphyry stock. The hole also encountered USTs at the upper contact of the intrusion.
Great Plains Metals (TSX-V:GPS) has satisfied the initial earn-in conditions, securing a 51% interest in Godolphin’s Yeoval and Goodrich projects. However, Godolphin retains a 49% interest.
Great Plains has elected to proceed to a further earn-in phase, targeting a 70% interest by incurring an additional $1 million in exploration expenditure over the next 12 months.
Godolphin Resources has submitted 324 samples from historical drill core archived at the NSW Mines Department facility for assay, with results expected to assist refinement of the regional porphyry model.
Write to JC Villarba at Mining.com.au
Images: Godolphin Resources
