- Golden State Mining (GSM) has provided an update on what’s in the pipeline for its Yule Project in Western Australia
- Next month, a 2500-metre drilling program is expected to begin which will follow up on anomalous gold discovered last year
- Then, 1500 metres of drilling will be undertaken in May and will focus on four lithium-cesium-tantalum pegmatite targets
- Lastly, phase three aircore drilling will begin in July and will target a newly granted tenement and licence application at Yule East
- Company shares have dropped 3.45 per cent and are trading at 14 cents
Golden State Mining (GSM) has provided an update on what’s in the pipeline for its Yule Project in Western Australia.
The wholly-owned project is located within the Mallina Basin and lies just 15 kilometres northwest of De Grey Mining’s (DEG) Hemi gold discovery.
Next month, GSM will begin a 2500-metre reverse circulation (RC) and diamond drilling program. Drilling will focus on gold targets that were discovered during programs undertaken last year.
In particular, drilling will follow-up on anomalous gold intersections including four metres at 2.3g/t gold including one metre at 7.6g/t gold from 99 metres and 18 metres at 0.17g/t gold from 104 metres.
Additionally, a 1500-metre RC program will drill four lithium-cesium-tantalum (LCT) pegmatite targets that have been generated from an analysis of aircore drilling conducted last year. This program is expected to start in May.
In July, a phase three aircore drilling program will begin at the newly granted tenement E47/4343 and the E45/5570 licence application at Yule East. Golden State Mining will also include areas at Yule South and Yule North based on encouraging results from previous drilling.
“The company continues to build on the solid foundations laid over two successful aircore programs totalling just over 28,000 metres in 2020,” Managing Director Michael Moore said.
“2021 will see significant exploration activity as we target gold and lithium through multiple RC and aircore drilling programs,” Michael concluded.
Company shares have dropped 3.45 per cent and are trading at 14 cents at 1:24 pm AEDT.