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GRL - Godolphin Resources

Discussion in 'Stocks 0-H' started by System, Dec 18, 2019.

  1. System

    System Administrator

    Likes Received:
    Jun 27, 2010
    Godolphin Resources Limited is a gold and base metal focused company with a clear strategy of fast-tracking the development of its projects in the Lachlan Fold Belt (LFB) of New South Wales, which includes 431,000 ounces of gold in JORC-compliant mineral resources.

    The Company's New South Wales assets are solely within the Lachlan Fold Belt in a largely contiguous land holding associated with structures hosting acknowledged world-class mines including Cadia-Ridgeway and Northparkes. Notably, the Company's eastern projects (Lewis Ponds, Copper Hill East, Ophir and Caledonian) are within the geological setting which hosts the new Boda porphyry gold-copper discovery announced by Alkane Resources Limited on 9 September 2019. The NSW Assets will comprise:

    (a) Mount Aubrey Epithermal Gold Project - located at the north margin of the Lachlan Transverse Zone (LTZ), covering multiple gold-hosting epithermal vein systems, three of which were historically mined by BHP Gold to shallow depths in the 1990s, with high grade drill intercepts unmined beneath the pits.

    (b) Copper Hill East Gold-Copper Project - located at the east margin of the Boda-hosting Molong Volcanic Belt (MVB), south along the MVB structure from Boda and north from Cadia-Ridgeway, with previous Company soil geochemistry confirming copper anomalies requiring drill testing.

    (c) Lewis Ponds Gold-Base Metal Project - located at the north margin of the LTZ, covering a continuous 65km strike of the major orogenic gold-hosting structure termed the Godolphin-Narragal Fault, prospects from southeast to northwest are Lewis Ponds, Mt Bulga, Mt Lindsay, Ophir, Calula and Caledonian. The Lewis Ponds Gold Base Metal Project includes the underlying freehold land.

    (d) Yeoval Porphyry Copper-Gold Project - located at the north margin of the LTZ, covering the Yeoval porphyry copper-gold-molybdenum-rhenium targets, with mineralisation open in all directions.

    (e) Wiseman's Creek Gold-Silver Project - located within the central LTZ, epithermal gold-silver discovery by Ardea.

    (f) Calarie Gold Project - located at the south margin of the LTZ, in the Parkes Fault Zone orogenic gold structure.

    (g) Gundagai Gold Project - historic gold mines on the Cootamundra Fault with visible gold in quartz veins.

    It is anticipated that GRL will list on the ASX on 18 December 2019.

  2. tinhat

    tinhat Pocket Calculator Operator

    Likes Received:
    May 1, 2009
    GRL is spin off from Ardea Resources, ARL. I bought a few of these through the IPO and also got allocated a sprinkling through the in-specie capital allocation from ARL. We will also get some bonus options issued if we hold for three months from the float (today).

    I have no idea how good these NSW gold prospects are because like many ARL holders, I bought ARL for their WA nickel prospects so the in-specie allocation is a bonus for me given that I am still in profit in ARL post divestment.

    Trading commences at 1pm.
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