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Copper-Gold Porphyry Discovery in NSW
30 Jul
Summary
- Broad mineralised zones with copper, gold, and molybdenum confirmed.
- Drilling returned a standout 136.55m intercept with 0.32% copper.
- Project is part of the renowned Lachlan Fold Belt.
Godolphin Resources has significantly bolstered the potential for a substantial copper-gold porphyry discovery at its Goodrich project in central New South Wales. Recent drilling assays unveiled extensive mineralised zones starting near the surface.
A notable intercept of 136.55 metres returned 0.32 per cent copper, 0.16 grams per tonne gold, and 43 grams per tonne molybdenum. This aligns with the expected signature of a large porphyry system.
Further drilling also intersected 52.97 metres grading 0.20 per cent copper and 0.02g/t gold, reinforcing the geological exploration model. The Goodrich project is situated within the Lachlan Fold Belt, approximately 70 kilometres northwest of Orange.
Godolphin holds a 49 per cent interest, with partner Great Plains Metals earning a 70 per cent stake by investing $1 million in exploration over the next year, allowing Godolphin to maintain exposure without funding future work.
Geological analysis indicates chalcopyrite-bearing monzonite porphyry, associated with fertile copper-gold porphyry systems and unidirectional solidification textures. Additional assay results from historical core samples are anticipated, which may further refine targeting across the project area.
