Godolphin Resources (ASX:GRL) announces that Great Plains Metals Corporation (TSXV:GPS) has completed its initial $1 million earn-in based on the earn-in and joint venture agreement for the Yeoval and Goodrich copper-gold projects.
This brings Great Plains’ project ownership to 51%.
According to Godolphin, Great Plains has likewise chosen to proceed to the further earn-in, targeting a 70% participating interest. This implies an additional spend of $1 million in exploration within the next 12 months to earn the additional 19% interest.
Great Plains has also requested that Godolphin remain as the project’s operator for the additional 12-month period.
Exploration progress
During the initial earn-in period, three diamond drill holes were completed at the Goodrich prospect. A fourth diamond hole at the Mt Rose prospect is currently in progress, with assays from the completed holes anticipated by early to mid-July 2026.
The drilling targets a large-tonnage porphyry copper-gold system across roughly 290km² of the project area, located 70km northwest of Orange, New South Wales.
Godolphin Managing Director Jeneta Owens says Great Plains completing the initial earn-in requirements and electing to proceed to the 70% earn-in “validates” the exploration potential at Yeoval and Goodrich.
“Their request for us to remain as operator reflects the strength of our working relationship,” Owens says.
“Our technical team will continue to lead the program as we await assay results from the current drill campaign.”
She adds that the Yeoval and Goodrich tenements represent “meaningful upside for our shareholders as Great Plains advances the exploration program”.
“We look forward to reporting assay results in the coming weeks,” Owens says.
Godolphin Resources is a mineral exploration company holding a 3,038km² portfolio of rare earth elements, gold, copper, and silver projects within the Lachlan Fold Belt of New South Wales.
Write to Paula Fabe at Mining.com.au
Images: Godolphin Resources
