Great Plains Metals (TSX-V:GPM) confirms a porphyry discovery at its Goodrich Copper-Gold Project in New South Wales following assay results from its maiden drilling program.
Laboratory assays from drill hole GGDD004 returned 128m @ 0.34% copper (Cu) and 0.17 grams per tonne (g/t) gold (Au) from 81.45m downhole, validating the company’s exploration thesis that historical shallow mine workings represent the upper tip of a multiphase porphyry system.
The discovery hole intersected a prominent zone at the porphyry contact, returning 3.55m @ 2.80% Cu and 0.18g/t Au from 81.45m. Additional intervals include 26m @ 0.52% Cu and 0.24g/t Au from 102m, and 5m @ 0.66% Cu and 0.49g/t Au from 158m.
CEO Peeyush Varshney says the results from hole GGDD004 is a ‘very exciting’ milestone for the company.
“Intersecting 128m of copper-gold mineralisation starting from just 81m from the surface is significant and represents a new exploration opportunity consistent with other porphyry deposits in the Lachlan fold belt,” Varshney says.
According to Great Plains, the mineralised zone begins at 81.4m and represents the cupola contact of a monzonite porphyry stock. The entire 128m of monzonite porphyry contains disseminated chalcopyrite and pyrite with traces of molybdenite in rare quartz veins.
Meanwhile, hole GGDD003 intersected altered monzonite porphyry representing the inner propylitic halo of the Goodrich porphyry, with two intervals displaying unidirectional solidification texture at 31.8m and 76.8m depth, both associated with copper mineralisation.
Great Plains has compiled 324 samples from historical drill core archived at the New South Wales Mines Department facility in Londonderry and delivered them to Intertek Laboratories in Orange. Assays are expected within the next few weeks.
The company has also completed stage one of its earn-in and joint venture agreement, achieving a 51% interest; and commenced stage two, which will result in a 70% interest upon completion.
Great Plains intends to form subsidiary GPS Goodrich in New South Wales to hold the tenements and undertake land access agreements and work program approvals.
Phase two drilling will commence upon completion of these processes, anticipated in Q4 2026.
The Goodrich Project spans 290km² across exploration licences EL9243 and EL8538, located 70km northwest of Orange within the Lachlan fold belt.
Great Plains Metals is an Australia-focused explorer targeting copper-gold porphyry and district-scale critical mineral discoveries.
Write to Paula Fabe at Mining.com.au
Images: Mining.com.au
