Godolphin Resources Limited (ASX: GRL) ('Godolphin' or the 'Company') is pleased to provide a detailed strategic plan for the second half of CY2025 for the Lewis Ponds Project, with the objective of unlocking significant value from the gold, silver and base metals Project.
Several initiatives are currently in progress at Lewis Ponds, which is 100% owned by Godolphin Resources and spans 148 km-2 in a historically rich mining district, located 15 km east of Orange, NSW (EL5583). The area has a long history of gold and base metal production and Lewis Ponds is considered a high-priority asset due to its geological potential and proximity to major deposits. The Company's exploration plan is budgeted, fully funded from existing cash reserves and focuses on progressing Lewis Ponds to deliver a comprehensive Project financial model and Scoping Study.
Management commentary: Managing Director Ms. Jeneta Owens stated: 'Godolphin is currently well-progressed with several work packages at Lewis Ponds. The core samples from the diamond drilling conducted earlier this year are now at Core Resources in Brisbane, marking the initiation of our metallurgical test work program. 'We have also finalized the update of the geological model and associated wireframes. This data has been delivered to our resource consultants, who have commenced updating our Mineral Resource Estimate (MRE) for Lewis Ponds
'Additionally, we have engaged Optimal Mining, who will utilise this new data together with the assays from our recent resource definition drill program to develop a scoping-level mining study for Lewis Ponds, which we anticipate will demonstrate outstanding Project economics. 'While the Scoping Study will assess the potential for a stand-alone development at Lewis Ponds, Godolphin is actively exploring regional toll treatment options. These discussions are aimed at identifying alternative pathways to reduce capital and lower operational costs, which may bring the Project into commercial production more quickly, subject to positive study outcomes and necessary approvals. 'Over the coming months, our technical team will collaborate closely with our consultants to deliver on the next round of milestones at Lewis Ponds. We look forward to sharing the results of these important work programs as they are completed.'
The extensive dataset compiled by Godolphin will be used to form the basis of an updated Exploration Target, which is expected to underline the potential for broader resource expansion at Lewis Ponds in addition to the existing resource. Scoping Study Results from the MRE update will be incorporating into a planned Scoping Study for Lewis Ponds, which is currently scheduled for completion around the end of the September 2025 quarter. Based on the anticipated upgrade to the existing mineralisation footprint, supported by positive market conditions for gold and base metal prices, Godolphin anticipates that the Scoping Study will highlight attractive Project economics and provide a strong platform for further development to unlock the full value of the asset.
This market announcement has been authorised for release to the market by the Board of Godolphin
Contact:
Jeneta Owens
Managing Director
Tel: +61 417 344 658
Email: jowens@godolphinresources.com.au
About Godolphin Resources
Godolphin Resources (ASX: GRL) is an Australian exploration company unlocking the potential of critical minerals and metals in the world-class Lachlan Fold Belt (NSW)-a region renowned for its rich gold, copper, and rare earth element (REE) deposits. With 100% ownership of over 3,500 km-2 of highly prospective ground, Godolphin is strategically positioned to support the global clean energy transition. Our portfolio includes advanced-stage projects such as the Lewis Ponds Gold-Silver Project, the Narraburra Rare Earths Project, and the Yeoval Copper-Gold and Mt Aubrey Gold Projects. We are committed to ethical, sustainable exploration and development, delivering long-term value for shareholders while respecting the communities and environments in which we operate. Our focus is clear: to discover and develop the critical resources that will be required for our future
COMPLIANCE STATEMENT
The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Ms Jeneta Owens, a Competent Person who is a Member of the Australian Institute of Geoscientists. Ms Owens is the Managing Director, full-time employee, Shareholder and Option holder of Godolphin Resources Limited. Ms Owens has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Ms Owens consents to the inclusion in the report of the matters based on her information in the form and context in which it appears. Information in this announcement is extracted from reports lodged as market announcements referred to above and available on the Company's website www.godolphinresources.com.au. The Company confirms that it is not aware of any new information that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons' findings are presented have not been materially modified from the original market announcements.
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