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  • Golden State Mining (GSM) has entered a mid-week trading halt for the purpose of an upcoming capital raising
  • The company will remain in the halt until February 26 or when an announcement is released, whichever occurs first
  • Just last week, GSM updated the market regarding upcoming drill programs at its Yule Project in Western Australia
  • A 2500-metre reverse circulation (RC) and diamond drilling program will begin next month with a focus on gold targets identified last year
  • 1500 metres of RC drilling will then begin in May on four lithium-cerium-tantalum pegmatite targets
  • Finally, Golden State will undertake an aircore drilling program at the Yule East area in July
  • Shares in Golden State last traded at 14 cents on February 22

Golden State Mining (GSM) has entered a mid-week trading halt for the purpose of an upcoming capital raising.

The company will remain in the halt until February 26 or when an announcement is released, whichever occurs first.

Golden State is yet to disclose how much it intends to raise or what it will do with the funds once they have been received.

Just last week, GSM updated the market regarding upcoming drill programs at its Yule Project in Western Australia.

A 2500-metre reverse circulation (RC) and diamond drilling program will begin next month with a focus on gold targets identified last year.

A 1500-metre RC program will then target four lithium-cerium-tantalum pegmatite targets with work set to begin in May.

Finally, in July, Golden State will undertake an aircore drilling program on tenement E47/4343 and licence application E45/5570 at the Yule East area.

Work will also be undertaken at the Yule South and Yule North areas to follow-up encouraging results identified in previous drilling.

Shares in Golden State last traded at 14 cents on February 22. The company has a $7.98 million market cap.

GSM by the numbers
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