Orbit Resources hits broad sulphide zones at Lewis Ponds project

Assays pending after drilling intersects zinc, copper and lead mineralisation in NSW's Lachlan Fold Belt

By LineZotpaper
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Orbit Resources has intersected two broad zones of strong sulphide mineralisation in an ongoing diamond drilling program at its Lewis Ponds gold, silver and base metals project in New South Wales' Lachlan Fold Belt, with assays yet to confirm grades.

The company said one hole, designed to grow its existing resource, visually identified two significant sulphide zones at the project's Tom's Lode prospect. The intercepts include a 12.9-metre zone containing 20 per cent semi-massive sulphides from 347.6 metres downhole, and a separate 8.5-metre hit of stringer and disseminated sulphides from 326 metres.

While assays are yet to confirm grade, Orbit said the visual sulphide assemblage is encouraging, comprising pyrite, sphalerite, chalcopyrite, pyrrhotite and galena, the key ore minerals for zinc, copper and lead.

"The current drilling program is focused on increasing geological confidence within the existing mineral resource," said managing director Jeneta Owens.

The drilling forms part of a four-hole, 1500-metre campaign at the 148-square-kilometre project near Orange. The hole that delivered the sulphide hits is still in progress; once complete, the rig will move on to test Spicer's Lode to the north. The campaign aims to increase confidence in the existing mineral resource, potentially converting inferred tonnes to the indicated category, and will provide core for metallurgical test work.

A second hole has been completed to a depth of 400.2 metres, extending drilling into the Lewis Ponds footwall. Samples have been sent to the lab, with results expected in the fourth quarter of this year.

The company has also flown a drone aeromag survey across Lewis Ponds and its exploration corridor, including the fresh Cousin Jack discovery. The 40-metre line spacing program is expected to provide data far superior to historical datasets, with validation and processing now underway.

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Analysis

Why This Matters

  • The drilling targets a potential upgrade of the existing resource from inferred to indicated confidence, a key step in advancing the project.
  • The intercepts at Tom's Lode could extend known mineralisation and support future metallurgical test work.
  • The aeromag survey may identify new exploration targets across the broader Lewis Ponds corridor.

Background

Lewis Ponds is Orbit Resources' flagship project, located in the Lachlan Fold Belt of central New South Wales, a geological province known for gold and base metals deposits. The company was formerly known as Godolphin Resources before its rebranding. The current 1500-metre campaign is designed to grow confidence in the existing resource at Tom's Lode and test the project's footwall, while the drone survey is intended to provide higher-resolution data than previous exploration efforts.

Key Perspectives

Orbit Resources: Managing director Jeneta Owens says the program is focused on increasing geological confidence within the existing mineral resource, with the visual sulphide assemblage considered encouraging by the company.

Skeptics: Visual estimates of sulphide content are preliminary, and resource definition programs do not always deliver the intended confidence upgrades. Grades remain unconfirmed until laboratory assays are returned, and the second hole's results are not expected until the fourth quarter.

What to Watch

  • Assay results from the completed 400.2-metre hole, expected in the fourth quarter of this year.
  • Completion of the current hole at Tom's Lode and the drill move to Spicer's Lode to the north.
  • Processing of the drone aeromag survey data and any new targets it generates across the exploration corridor.

Sources

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