Godolphin resource upgrade unlocks 421,000 gold ounces and 21M silver ounces

• Godolphin’s new useful resource for Lewis Ponds underpins near-term growth alternatives
• Useful resource improve delivers 470,000oz gold & 21Moz silver with tonnes up 58%
• Scoping mining research and metallurgical research now underway together with planning for extra drilling

Particular Report: Godolphin’s improve to sources at its gold, silver and base metals Lewis Ponds mission within the Lachlan Fold Belt of NSW has reiterated the potential for the corporate’s near-term growth alternatives.

The up to date useful resource confirms the mission as a big, high-grade gold and silver deposit with a complete inferred and indicated sources of 9.83Mt (5.01Mt Indicated, 4.82Mt Inferred) @ 1.49g/t Au, 66.15g/t Ag, 2.46% Zn, 1.38% Pb, 0.15% Cu.

This marked a 58% enhance in general tonnes, 18% rise in gold content material to 470,000oz and a 31% uplift in silver to a whopping 21Moz.

Alongside the elevated mineral useful resource confidence, the improve additionally delivered an open pit useful resource of two.88Mt grading 0.52g/t gold, 41.22g/t silver, 1.52% zinc, 0.59% lead and 0.12% copper, or contained sources of 47,800oz gold, 3.8Moz silver, 44,000t zinc, 17,000t lead and three,000t copper.

What makes this much more engaging as a growth possibility is that 64% of this open pit useful resource – 14,000oz gold and 1.5Moz silver – sits within the larger confidence indicated class that has sufficient geological certainty to allow mine planning.

This permits Godolphin Resources (ASX:GRL) to make use of the useful resource to underpin the preliminary scoping research into the event of the mission.

Lewis Ponds is an rising gold discovery with important silver and base steel co-products which covers ~148km2 about 15km east of Orange.

It hosts intensive historic gold and base steel workings stemming from the world’s lively mining historical past.

Useful resource improve

The broader useful resource improve took sources from Lewis Ponds out from 6.2Mt at 2g/t gold, 80g/t silver, 2.7% zinc, 1.6% lead and 0.2% copper within the inferred class as much as 9.83Mt at 1.49g/t gold, 66.15g/t silver, 2.46% zinc, 1.38% lead and 0.15% copper with greater than half the tonnage (5.01Mt) within the indicated class.

Contained sources now whole 470,000oz of gold, 20.9Moz of silver, 241,000t of zinc, 136,000t lead and 15,000t copper.

GRL had upgraded the useful resource based mostly on the ~56.6km of diamond, 5848.2m of reverse circulation – and 2094.55m of mixed RC and diamond drilling in 218 holes it had accomplished because the preliminary useful resource was launched in February 2021.

There may be additionally loads of potential for development because the useful resource, which is open in all instructions, sits inside a bigger mineralised system which extends for 9km to the southeast.

Including additional curiosity, there are giant gaps inside the useful resource that might present upside with additional infill drilling.

‘A significant enhance from our earlier MRE’

“These outcomes have significantly exceeded our expectations and spotlight the distinctive potential for the Lewis Ponds mission,” GRL managing director Jeneta Owens stated.

“By means of infill drilling and improved geological understanding of the Spicer’s and Tom’s Lodes and the introduction of a portion of the Torphy’s Lode, we have now considerably elevated the worldwide useful resource steel stock, together with 58% extra tonnes, an 18% uplift to the contained gold to 470,000oz, and a large 31% enhance to the contained silver steel to 21Moz.

“Critically, this was achieved alongside elevated mineral useful resource confidence, through the supply of an open pit and underground useful resource sections that are categorised as 64% and 45% Indicated, respectively.

“This can be a main enhance from our earlier MRE, an distinctive milestone for Godolphin and supplies a really robust basis for the preliminary scoping mining research.”

Owens added there was development potential with drilling of recent lodes such because the Quarry Footwall Lode and extra of the Torphy’s Lode, anticipated to be integrated into future updates.

“Our geologists are creating extra drill applications, with a give attention to focusing on the copper-enriched exploration goal and the polymetallic exploration goal which was introduced final month.”

In July 2025, GRL had outlined a Stage 1 copper-dominated exploration goal of 3-5Mt grading between 1% and 1.5% copper, or 30,000-75,000t contained purple steel, and a polymetallic dominant exploration goal of 3-5Mt at 1.42-2.46g/t gold equal (gold, silver, zinc, lead and copper).

Subsequent steps

GRL is now finishing up a scoping research underpinned by the upgraded useful resource estimate.

It’s additionally conducting metallurgical testwork aimed toward enhancing each gold and silver restoration.

Outcomes from these research are anticipated to be delivered within the coming weeks.

Moreover, the corporate is planning to hold out extra drilling to underpin additional useful resource development.

It will check identified mineralisation and exploration goal areas.

This text was developed in collaboration with Godolphin Sources, a Stockhead advertiser on the time of publishing.

This text doesn’t represent monetary product recommendation. You need to think about acquiring impartial recommendation earlier than making any monetary choices.