Golden State Mining (ASX:GSM) - Managing Director, Michael Moore
Managing Director, Michael Moore
Source: HotCopper
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  • Golden State Mining (GSM) receives the first results from its maiden reverse circulation (RC) drilling program at Yule South in Western Australia
  • The company began drilling in mid-July to test Target 1 East, Target 1 West, Target 2A and Target 5
  • All up, 19 RC holes were drilled and results have been received for 16, which had grades peak at 0.29g/t gold
  • Phase three aircore drilling for gold and lithium is continuing at the Yule Project
  • Golden State is down 11.1 per cent with shares trading at 12 cents at 2:21 pm AEDT

Golden State Mining (GSM) has received the first results from its maiden reverse circulation (RC) drilling program at Yule South.

Yule South is part of the Yule Project which lies in the Mallina Basin of Western Australia, between 45 and 65 kilometres southwest of Port Hedland.

Golden State began RC drilling in mid-July to test Target 1 East, Target 1 West, Target 2A and Target 5.

All up, 19 RC holes, for 3542 metres, were drilled and three of the four targets were tested.

Results have been received for 16 of the 19 holes drilled with the remaining results expected to be received in late October.

Target 1 East

Drilling at Target 1 East tested an interpreted intrusive feature identified by magnetic inversion modelling.

Five of the holes intersected a diorite intrusive with extensive zones of sulphide mineralisation.

Results include three metres at 0.29 grams of gold per tonne (g/t) from 216 metres and two metres at 0.12g/t gold from 76 metres.

Target 1 West

Drilling at Target 1 West was designed to test a potential mineralised intrusive at depth where significant silicon and pyrite alteration has been identified.

Four holes, for 804 metres, were drilled with a best result of one metre at 0.27g/t gold from 71 metres intersected.

Target 5

RC drilling at Target 5 tested a strong silica, sericite and pyrite alteration zone identified in aircore drilling.

Three holes, for 522 metres, were drilled, however no significant gold assays were encountered.

Target 2A

Due to rig availability, no drilling was undertaken at Target 2A but will instead be completed in a follow-up RC drilling program.

Managing Director Michael Moore commented on the drilling program.

“The recent RC drilling program allowed GSM to gather more valuable geological data well below the previous two phases of aircore drilling that will assist with vectors for current and future drilling programs,” Mr Moore said.

“This new data will assist GSM as it undertakes its third phase of reconnaissance drilling over gold and LCT pegmatite lithium targets within the Yule East tenement, as well as Yule North and South.”

Golden State was down 11.1 per cent on the market with shares trading at 12 cents at 2:21 pm AEDT.

GSM by the numbers
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