Join our daily newsletter At The Bell to receive exclusive market insights
- Golden State Mining (GSM) has begun its 10,000-metre aircore drilling program at the Yule South Project in the Mallina Basin in WA
- The company recently appointed a drilling contractor with experience in the Yule region who was involved in De Grey Mining’s Hemi discovery
- Drilling will focus on five priority targets and is expected to be completed in August
- Following this, Golden State plans to kickstart another 10,000-metre program
- Company shares have dropped 10.9 per cent to trade for 61.5 cents each
Golden State Mining (GSM) has begun its 10,000-metre aircore drilling program at the Yule South Project in the Mallina Basin.
The Yule Project is located southwest of Port Hedland in the northern Pilbara region of Western Australia.
On June 23, the company appointed Bostech Drilling Australia as the drilling contractor for the program. Bostech was chosen due to its significant drilling experience in the Yule region. Recently, Bostech was also involved with De Grey Mining’s (DEG) Hemi discovery which is located just 13 kilometres away.
“We are delighted to have commenced GSM’s maiden drilling program at the Yule South project located in the Mallina Basin,” Managing Director Michael Moore said.
“GSM is strategically positioned in this exciting gold exploration destination, with 702 square kilometres worth of tenements and numerous drill target opportunities identified in addition to the initial five targets,” he added.
The drilling program will focus on five priority gold targets and drilling is expected to be completed by mid-August 2020.
Additionally, GSM has submitted a heritage survey request to cover additional targets areas at Yule. This will facilitate a second 10,000-metre drilling program which is set to begin soon after this program in September.
Company shares have dropped 10.9 per cent to trade for 61.5 cents each at 10:41 am AEST.
