- Godolphin Resources’ (GRL) recent drilling program at the Mt Aubrey Project has confirmed the presence of an epithermal gold system
- Drilling began in late January and was designed to validate historical drill holes and test for potential resource extensions
- Encouragingly, all 14 holes drilled intersected epithermal-style alteration and a majority intersected gold mineralisation
- Godolphin will conduct follow-up drilling to extend the mineralisation
- Company shares are up 27.3 per cent and are trading for 14 cents each
Godolphin Resources (GRL) has announced recent drilling at the Mt Aubrey Project in New South Wales has confirmed an epithermal gold system.
The reverse circulation (RC) drilling program began in late January 2020 and aimed to validate historical RC drill holes and test for potential resource extensions around and below the historic open-pit positions.
Mt Aubrey is located approximately 40 kilometres northeast of Parkes and 70 kilometres northwest of Orange. It is prospective for a range of minerals including epithermal gold-silver and porphyry gold-copper-molybdenum.
Using historical results, Godolphin put together a Mineral Resource Estimate in August 2019. The Inferred Mineral Resource totals 1.21 million tonnes at 1.61 g/t gold for 62,400 ounces of gold.
In the recent drilling program, a total of 14 holes for 1734 metres was drilled until the program ended in mid-February.
All holes intersected epithermal-style alteration and a majority of drill holes intersected gold mineralisation. Out of 14, five holes intersected greater than 1g/t gold over broad intervals.
Notably, hole MAGRC0008 intersected 22 metres at 2.15 g/t gold from 22 metres and MAGRC0011 intersected 28 metres at 0.92 g/t gold from 60 metres including 16 metres at 1.1 g/t gold from 72 metres.
MAGRC0009 targeted mineralisation at depth below the pit but did not intersect any mineralisation other than a single mineralised split near surface of 1.21g/t.
Godolphin will conduct follow-up exploration to highlight potential extensions to shallow supergene mineralisation discovered in MAGRC0008 and look for extensions to the mineralisation discovered at depth in MAGRC0011.
Company shares are up 27.3 per cent and are trading for 14 cents each at market close.