Golden State Mining (ASX:GSM) has completed a reverse circulation (RC) drilling program at the Nomad and Balla Yule prospects within its Yule Project in Western Australia.
The program consisted of 11-holes for a total of 2,059m drilling.
Golden State says it’s expecting to receive assays from the program in early October.
In the meantime, the $7.64 million market capitalisation company expects to begin an aircore program across a range of reconnaissance and follow-up targets, including the Balla Yule prospect, Yule East project area, and the Nomad prospect.
Commenting on the completion of the drilling, Golden State Mining Managing Director Michael Moore says: “The completion of RC drilling at the Nomad lithium prospect, as well as drilling to assess the nickel, cobalt, and lithium potential at Balla Yule, is just the start of a busy phase of exploration at Yule.
“The completion of RC drilling at the Nomad lithium prospect … is just the start of a busy phase of exploration at Yule“
We also expect to commence aircore drilling within the next week over additional approved target areas at Nomad as well as Yule East and Balla Yule. We are also pleased to report our phase two soil results at Southern Cross East have allowed us to identify 41 areas of interest where we have recorded anomalous gold and pathfinder elements.
These areas will now be ranked in order of priority and field-checked prior to defining aircore drill targets to hit the ground running in early 2024.”
Meanwhile, at the Southern Cross East Project, Golden State Mining is planning for field mapping work to begin in September 2023.
Golden State Mining is an ASX-listed, lithium, gold, and base metals exploration company focused on exploring in Western Australia.
As of 30 June 2023, the company had $2.069 million cash and cash equivalents at hand, with another $1.3 million received post-quarter end following the completion of a $2 million capital raise launched in May, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Golden State Mining
