Godolphin Resources (ASX:GRL) has identified multiple targets for follow-up exploration following a reverse circulation (RC) drilling and field mapping at its wholly owned Cyclops, Yeoval East, and Vaughans Ridge prospects.
Godolphin reports results from drilling will be fully evaluated, including synthesising with existing data to form the basis for any additional exploration activities.
However, the company notes results from drilling suggest the quartz-magnetite-chalcopyrite (QMC) veins are not laterally continuous, being steeply plunging and pod-like in nature.
Godolphin reports further exploration will be considered for Cyclops in 2024 due to this occurrence.
According to Godolphin, key areas for follow-up will be those which have demonstrated ‘elevated’ gold values or similar results from the most recent campaign of rock chips.
Meanwhile, geochemical assays from rock chip sampling at Vaughans Ridge are expected early next year.
The results will be appraised in conjunction with planning for further detailed mapping and sampling along a ‘significant’ 6km strike length of geophysical magnetic high response interpreted as a continuation of a skarn alteration system.
Godolphin states other geophysical methods, such as an airborne electromagnetic (EM) survey, are being considered to refine drill targets for this area.
The company notes drilling at Cyclops and Yeoval East targeted multiple structural zones with the potential to host ‘high-grade’ copper mineralisation and was completed on time and under budget.
Managing Director Jeneta Owens says the ‘highly encouraging’ results from drilling and mapping will inform future plans for ongoing exploration.
“The results highlight further intersections of over 1% copper at the Cyclops prospect and has increased our overall understanding of the mineralisation style and will inform future plans for ongoing exploration.
We anticipate receiving rock chip sampling results early in the 2024 New Year. We look forward to sharing the results and the next steps for this exciting prospect area and other prospects within the Yeoval tenement where we have commenced field mapping and rock chip sampling programs.”
Godolphin Resources currently holds a portfolio of Australia-based projects in the Lachlan Fold Belt in New South Wales, a ‘world-class’ gold-copper province.
The company’s tenements cover a total of 3,400km-square of ‘highly prospective’ ground in the Lachlan Fold Belt.
As of 30 September 2023, Godolphin Resources had $2.428 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Godolphin Resources
