Godolphin Resources (ASX:GRL) has been granted an exploration licence (EL9628) for 3 years by the New South Wales government’s Department of Industry and Investment.
The licence, namely Trungley, lies adjacent to the company’s Narraburra Rare Earth Element (REE) Project to the north, east, and south, and is considered to potentially host extensions to known mineralisation at Narraburra.
Godolphin says previous exploration across Trungley focused on REE mineralisation and was limited. The company has identified from historical rock chip sampling and there have also been several campaigns of auger soil sampling.
The company will be evaluating the existing dataset to determine if the data can be re-processed or new data can be acquired to assist in advancing REE exploration of the tenement.
Managing Director Jeneta Owens says adding Trungley to the company’s portfolio is a ‘significant’ step forward.
“The tenement covers some very important ground, and, most notably, it means that Godolphin has now secured potential extensions of REE mineralisation to the north of the company’s Narraburra REE Project.
Now the tenement has been fully granted, the field team will get busy with reviewing historical data. Initial work will focus primarily on potential REE mineralisation associated with the A-type granites.”
The company notes Trungley is also considered to be prospective for base metals, tin and tungsten, associated with the S-type Yerna granite in the north of the exploration licence.
Godolphin Resources is focused on its Australian-based wholly owned assets. The company covers a 3,500km-square area of ‘highly prospective’ ground.
As of 31 December 2023, the company had $1.195 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Godolphin Resources
