Other Rare Earth Element (REE) Projects

EL9506 – Bingara (New South Wales)

EL9506 (to be named the Bingara Project) is in the New England Region of northern NSW, 8km south-southwest of Bingara. Godolphin lodged an application following a review of state-wide geological and geophysical data, focusing on areas of the State with similar signatures to the Australian Strategic Metals (ASM) Jurassic aged Toongi Prospect near Dubbo, NSW. Key indicators included the potential for similar Jurassic peralkaline rock units, host to the Toongi deposit, to occur; and similar geophysical responses with high radiometric responses associated with peralkaline rocks.

EL9506 contains both Mesozoic and Cenozoic aged igneous rocks which display characteristic radiometric geophysical signatures. No historic or recent exploration for REEs has been completed in the area, which makes it an exciting new addition to GRL’s REE portfolio.

The tenement is granted for a six-year period with an exploration strategy outlined that will see Godolphin complete initial in-depth desk-top data analysis, geological mapping and geochemical sampling supplemented with geophysics and drilling of suitable targets. Several geophysical targets have already been identified across the tenement and will be prioritised in the early phases of the exploration program.

EPM28668 – Eidsvold (Queensland)

Godolphin Resources Ltd has recently applied to the QLD Government for a 32-unit Exploration Permit, which is currently subject to Native Title Assessment and completion of an Environmental Authority. EPM28668 is located near the small town of Eidsvold, approximately 150km west of Bundaberg in Central QLD.

The Project area was identified during a review of potential REE projects in QLD, using similar assessment methodologies as to the process completed for NSW.

The Company’s strategic review of publicly available data from the Queensland Government found that a large peralkaline-A type granite – the Boolgal Granophyre – was reported to be enriched in LREEs and displayed similar textures, mineralogy and geochemistry to the Company’s Narraburra Project in south-western NSW.

Godolphin is confident that EL9506 will complement its current REE tenement package and provide potential targets and opportunities in the coming months. The QLD application, EPM28668, will provide an exciting new phase in REE project acquisition outside of NSW.