Godolphin Resources Limited (ASX: GRL) has received positive assay results for five diamond drill holes from the company’s 27-hole diamond core inaugural MRE drill programme at the Narraburra Rare Earth Element (REE) and Rare Metals (RM) Project in New South Wales, Australia.
“These further five diamond drill holes are highly encouraging, given that all holes reported were drilled outside the extent of mineralisation as defined by previous explorers,” Managing Director, Jeneta Owens, said.
“These results show there is substantial weathered surficial REE mineralisation, and there is scope to extend the historically defined mineral resource. Further, the higher levels of TREO evident in the shallower weathered rock zones provide the potential for a low mining cost and near-term extraction opportunities, highlighting the considerable development potential at Narraburra.
“Since the initial farm-in agreement, the company has drilled a total of 31 diamond drill holes at the Project, which can be used to update the existing Mineral Resource Estimate to JORC (2012) standards.
“An additional 22 of these holes, including drill holes completed within the known mineral resource, will be reported soon. Concurrently, the Company will also commence metallurgical test work to start defining the optimum process flowsheet for the Narraburra REE mineralisation.”
The Narraburra area was first explored for REE associated with the Devonian-aged Narraburra Granite. Significantly, it is listed as a Critical Minerals Project by the Critical Minerals Facilitation Office of the Australian Government’s Department of Industry, Science, Energy and Resources and Australian Trade and Investment Commission and highlights a major low-carbon metal opportunity in an established mining region.
To date, the company’s diamond drilling at Narraburra has intersected broad zones of REE mineralisation in both weathered surficial regolith material and in underlying fresh rock protolith material.
Most recent results from the additional five diamond drill holes have intersected further zones of REE outside the extent of previously identified REE mineralisation.
Programme overview and results
All five drill holes (GNBDD005, GNBDD006, GNBDD007, GNBDD008 and GNBDD009) are located outside the extent of previously identified REE mineralisation. All holes have similar down-hole profiles, with thick weathered regolith above fresh rock protolith. Hole GNBDD005 intersected 46.35m of weathered material,
GNBDD006 70.4m, GNBDD007 77.3m, GNBDD008 1.34m, and hole GNBDD009 13.9 m of weathered material. Pleasingly, four of the five drillholes intercepted rare earth mineralisation.
Drillhole GNBDD006 reported 21m averaging 695 ppm TREO from 51m downhole. Further REE mineralisation was intersected in this drill hole at shallow levels, including 1.0m averaging 668 ppm TREO from 3.0m and 2.0m averaging 727 ppm TREO from 22m. Drillhole GNBDD007 reported 22m averaging 524 ppm TREO from 54m downhole.
Further REE mineralisation was intersected in this drill hole at shallow levels, including 1.25m averaging 582 ppm TREO from 3m and 2.2m averaging 907 ppm TREO from 36m. Further, drillhole GNBDD005 reported an intersection of 7.1m averaging 1218 ppm TREO from 38.9m downhole. Four of the five holes intersected REE mineralisation.
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