Godolphin secures drill permit to expand Lewis Ponds gold-silver-base metals resource

Godolphin Resources Limited ( (AU:GRL) ) has shared an update.

Godolphin Resources has secured a drilling permit from the New South Wales Resources Regulator, clearing the way for a five-hole, 2,500-metre reverse circulation and diamond drilling program at its 100%-owned Lewis Ponds gold, silver and base metals project. A contracted rig is expected to mobilise to site from mid-March, with drilling scheduled for completion by May 2026 and results to be released progressively.

The program will target multiple geophysical anomalies, including an Eastern IP chargeability zone interpreted as the southern strike extension of existing mineralisation and off-hole electromagnetic conductors near the current resource. Management believes these targets could underpin a significant expansion of the Lewis Ponds mineral resource, potentially enhancing the project’s scale and value proposition for shareholders and strengthening Godolphin’s position in the Lachlan Fold Belt.

The most recent analyst rating on (AU:GRL) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Godolphin Resources Limited stock, see the AU:GRL Stock Forecast page.

More about Godolphin Resources Limited

Godolphin Resources Limited is an Australian exploration company focused on gold, silver and base metals, with its flagship Lewis Ponds project located in the Lachlan Fold Belt of New South Wales. The project hosts a JORC 2012 mineral resource of 17.52 million tonnes containing gold, silver, zinc, lead and copper, with the resource remaining open in several directions and significant undrilled areas offering expansion potential.

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Technical Sentiment Signal: Buy

Current Market Cap: A$23.81M

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