Godolphin flags strong economics and exploration upside at Lewis Ponds project

The latest announcement is out from Godolphin Resources Limited ( (AU:GRL) ).

Godolphin Resources has delivered a pivotal quarterly update highlighting strong progress at its Lewis Ponds gold, silver and base metals project, where a new Scoping Study outlines a 12-year open pit and underground operation producing 1.25Mtpa. The study points to robust economics with low pre-production capital costs, strong base and upside case returns, and substantial free cash flow potential, reinforcing Lewis Ponds as a capital-efficient development opportunity.

Project fundamentals were further strengthened by metallurgical testwork that lifted gold recovery by about 21% to roughly 83.7% in the semi-massive domain via the inclusion of a gravity circuit, enhancing confidence in the flowsheet and overall project economics. Exploration upside is growing through a newly identified IP chargeability anomaly about 1km north of the existing deposit, high-grade rock chip samples across multiple prospects, and an active 2,500m diamond drilling program targeting extensions and new zones beyond the current resource.

Management emphasised that continuing exploration and resource expansion at Lewis Ponds, alongside optimisation work ahead of pre-feasibility, should support further value creation in the near term. In parallel, the company is advancing its 100%-owned Narraburra Rare Earths Project, aiming to leverage favourable commodity markets across two major projects and position Godolphin to unlock significant shareholder value as both assets progress.

More about Godolphin Resources Limited

Godolphin Resources Limited is an ASX-listed mineral exploration and development company focused on gold, silver, base metals and rare earths in New South Wales’ Lachlan Fold Belt. Its flagship asset is the 100%-owned Lewis Ponds project, underpinned by a high-grade JORC resource, alongside the 100%-owned Narraburra Rare Earths Project, where it is advancing multiple value-accretive opportunities.

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Technical Sentiment Signal: Sell

Current Market Cap: A$16.11M

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