en.Wedoany.com Reported - Australia's Godolphin Resources (ASX:GRL) announced that Great Plains Metals has completed the initial earn-in phase, officially entering the next stage of the Yeoval-Goodrich joint venture project and acquiring a 51% interest in the project.
Under the joint venture agreement, Great Plains Metals has entered the second earn-in period, committing to invest an additional A$1 million over the next 12 months to increase its interest to 70%. Godolphin Resources will continue as operator, with its technical team managing the project, while Great Plains funds the next phase of work. This structure allows Godolphin shareholders to still benefit from exploration success while reducing the company's financial burden. Godolphin Resources Chief Executive Officer Jeneta Owens stated that with Great Plains advancing the exploration program, the Yeoval and Goodrich projects offer significant upside potential for shareholders, and the company looks forward to reporting assay results in the coming weeks, while the Lewis Ponds project also continues to progress.
Drilling and field work across the project remain active. Godolphin reported that three diamond drill holes have been completed at the Goodrich prospect, while a fourth hole is being drilled at Mt Rose. The drilling program aims to target large porphyry copper-gold systems, covering a project area of approximately 290 square kilometers, located about 70 kilometers northwest of Orange. These prospects lie within the world-class gold, copper, and rare earth province—the Lachlan Fold Belt. Overall, the company's tenements cover 3,038 square kilometers, with exploration potential for gold, silver, base metals, and rare earths. The company expects to announce assay results from the current Yeoval-Goodrich drilling program between early and mid-July.
This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com
