Join our daily newsletter At The Bell to receive exclusive market insights
- Golden State Mining (GSM) receives two out of five tenement applications grants at its new exploration area at the Payne’s Find project in the Murchison region of WA
- The new project covers around 1200 square kilometres and contains known lithium-bearing pegmatites with prospective geological settings of multiple “late-stage” intrusive episodes considered favourable for lithium
- The company has secured the ground for its lithium and base metal potential based on open file aeromagnetic and remote sensing data evaluation
- Further reconnaissance and initial soil sampling work is due to commence in the coming weeks
- GSM shares are up 14.1 per cent, trading at 9.7 cents
Golden State Mining (GSM) has been successfully granted two out of five tenement applications at its new exploration area at the Payne’s Find project in the Murchison region of Western Australia.
The new project covers around 1200 square kilometres and contains known lithium-bearing pegmatites with prospective geological settings of multiple “late-stage” intrusive episodes considered favourable for lithium.
“In conjunction with a well-regarded industry consultant, this greenfields area was specifically targeted for its lithium prospectivity, however, the recent Meleya discovery by Tempest Minerals Limited (TEM) some thirty kilometres away has also highlighted the importance of base metals opportunities in this region,” Managing Director Michael Moore said.
The company has secured the ground for its lithium and base metal potential based on open file aeromagnetic and remote sensing data evaluation.
The project-scale lithium targeting work has already commenced on the new, underexplored tenure of the entire project area.
In addition, the technical team are assessing the interpreted base metal potential corridor on the western part of the Payne’s Find North tenements.
Further reconnaissance and initial soil sampling work is due to commence in the coming weeks.
GSM shares were up 14.1 per cent, trading at 9.7 cents at market close.
