Golden State Mining (ASX:GSM) has been granted a new exploration licence dubbed Canning Hill in Western Australia, as part of its “methodical and ongoing search” for new gold-focused opportunities.
The Canning Hill Project consists of a single exploration licence that lies 80km south of Mt Magnet in the Murchison region, within the southern portion of the prospective Wydgee-Meekatharra Greenstone belt.
Golden State says the area has previously been explored for gold, iron ore, and base metals, and a search of open file exploration data has revealed numerous historical geochemical programs that uncovered gold and gold pathfinder anomalies.
These anomalies remain largely untested and present an opportunity to discover a “significant” gold mineralisation occurrence, according to the company.
Managing Director Michael Moore says exploration licence applications over prospective gold areas are a “cost-effective way of bringing in new project areas where the company can work towards the delivery of drilling programs”.
Meanwhile, as part of a project review strategy, Golden State has engaged RSC Consulting to conduct a comprehensive and independent review of the Yule Project area.
The study aims to uncover any remaining targeting opportunities and build on Golden State’s drilling database and exploration efforts to date. Results are expected early next month.
Moore says the company still considers Yule an important part of its gold project portfolio.
“Its proximity to the De Grey Mining (ASX:DEG) Hemi discovery is still a very strong reason for continued exploration in this area,” he says.
“In order to maintain support for this strategy the company felt that a third-party geological review would help in validating the exploration strategy and the continued deployment of exploration resources into the project.
“To ensure we have a fit for purpose mix of projects within the GSM portfolio, we continue to evaluate each projects discovery prospects and the rationale of continued exploration activity.”
Golden State Mining is a gold and lithium explorer focused on discoveries in the prospective West Pilbara Craton of Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Golden State Mining
