Golden State Mining (ASX:GSM) has started an 8,000m aircore (AC) drilling program across multiple targets at its Yule Project in Western Australia.
The $6.11 million market capitalisation company says drilling is expected to be completed in late September this year, with assay results to be reported around mid-November.
At the Nomad prospect, Golden State plans to conduct 4,000m of AC drilling.
Drilling will focus on concealed, east-northeast trending, low-density pattern targets in proximity to anomalous caesium values returned in first-pass reverse circulation (RC) drilling, and on the recently acquired ground to the south of the company’s previous drilling.
At the Balla Yule prospect, drilling will test for hosted nickel-cobalt-copper sulphide-style mineralisation within the synformal core of the interpreted layered mafic-ultramafic intrusive body.
Drilling will also be following up on gold targets bearing Archaean gold deposit analogies.
Golden State will also conduct follow-up AC drilling at the Quarry Well prospect within the sholl shear zone. This aims to evaluate previous drill results in interpreted deformed, siliceous, chert-like lithologies with elevated portable X-ray fluorescent zinc and lead readings of up to 0.25%.
Commenting on drilling activities, Golden State Mining Managing Director Michael Moore says: “Following on from our recently completed RC drilling campaign at Nomad and Balla Yule, it is pleasing to report that aircore drilling is well underway at Yule.
“This comprehensive aircore drilling program follows a recently completed RC program and ensures we maintain exploration momentum in this highly prospective region“
The first priority area is centred on the Nomad lithium prospect and will include ground to the southeast on E47/2692 where no previous exploration drilling has been conducted. A further focus of the drilling program will be Yule East where we have a number of high-priority gold and lithium targets around the Yule River shear zone.
This comprehensive aircore drilling program follows a recently completed RC program and ensures we maintain exploration momentum in this highly prospective region.”
Golden State Mining is an ASX-listed exploration company focused on exploring the ‘highly mineralised’ Eastern Goldfields of Western Australia. As of 30 June 2023, the company had $2.069 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Golden State Mining
