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Be the first with the news that moves the market- Golden State Mining (GSM) begins aircore drilling at the Four Mile Well gold project in Western Australia
- Drilling began on June 17 with around 1200 metres of aircore drilling planned over prospective, untested structural and geochemistry corridors
- The drilling follows a recent orientation geochemical program undertaken on two traverses covering an arsenic-bismuth gold soil anomaly
- Reconnaissance work also identified multiple wide-space bore collars in the north with work confirming the presence of a corridor of altered greenstone rocks
- Shares in Golden State are up 4.88 per cent and are trading at 4.3 cents at 12:48 pm AEST
Golden State Mining (GSM) has begun aircore drilling at the Four Mile Well gold project in Western Australia.
Drilling began on June 17 with around 1200 metres of aircore drilling planned over prospective, untested structural and geochemistry corridors.
A recently completed orientation geochemical program was undertake on two traverses covering a historical arsenic-bismuth gold soil anomaly.
The aim of this program was to confirm the historical anomalous values collected as conventional log samples via an ultra-fine soil fraction analytical method.
This work provided adequate data to undertake additional work and sampling in the area.
Reconnaissance work also identified multiple wide-space bore collars in the north with remaining drill chips collected for analysis.
The drill chips recorded fine-grained schistose chlorite-sericite altered volcaniclastic as well as weak sulphide mineralisation.
These findings confirm the presence of a corridor of altered greenstone rocks beneath the sand cover in the north.
“The recent work that we completed at our Four Mile Well project has potentially identified a previously unrecorded greenstone rock package,” Managing Director Michael Moore commented.
“This new interpretation, along with recent soil sampling work which provided correlation with historic data, has driven the fast tracking of an air-core drill program, which commenced late last week.
“It also reinforces the company’s significant expansion of its Four Mile Well exploration footprint in the past 12 months and it is keen to evaluate significant greenstone types recorded in old bores in the north of the project which is currently under application.”
Shares in Golden State were up 4.88 per cent and were trading at 4.3 cents at 12:48 pm AEST.
