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- Golden State Mining (GSM) completes air-core drilling at the Four Mile Well gold project near Laverton in Western Australia
- The drilling program included 27 holes, for 1162 metres, and aimed to assess concealed terrain and basement below historic and recent anomalous soil geochemistry responses
- Managing Director Michael Moore said drilling was completed on time and on budget and the company is looking forward to receiving the results
- A total of 316 samples have been submitted for assay with results expected in mid-August
- GSM shares are up 5.13 per cent and trading at 4.1 cents at 1:58 pm AEST
Golden State Mining (GSM) has completed air-core drilling at the Four Mile Well gold project near Laverton in Western Australia.
The air-core drilling program included 27 holes, for 1162 metres, and aimed to assess concealed terrain and basement below historic and recent anomalous soil geochemistry responses.
Managing Director Michael Moore said drilling was completed on time and on budget and the company is looking forward to receiving the results.
“Taking advantage of drill rig availability, the GSM team rapidly mobilised to Four Mile Well to conduct this first pass air-core program over a potentially unrecorded greenstone rock package,” Mr Moore said.
A total of 316 samples have been submitted for assay with results expected in mid-August.
Additionally, GSM has received notification of a successful grant for exploration licence E59/2701 at its Payne’s Find Project.
The company recently completed an initial field reconnaissance trip over its granted tenure in the northern and central parts of the project area.
GSM is also continuing to look for a drill contractor for target two at its Yule South project in the Pilbara region of WA.
All approvals are in place, which will help the company secure a drill rig.
GSM said the recent unseasonal rains have caused delays in the area, therefore limiting the availability of drill contractors working locally in an already competitive market.
“The company is still actively looking to source an RC drill rig for its fully permitted around 1500 metre lithium and gold focused program at Yule in the Pilbara as well as planning reconnaissance work at its exciting Payne’s Find lithium project in the Murchison,” Mr Moore said.
“With activity across a number of our self-generated projects across WA, investors can look forward to significant activity over the second half of 2022.”
On the market, GSM shares were up 5.13 per cent and trading at 4.1 cents at 1:58 pm AEST.
