- Gold and base metals exploration company Golden State Mining (GSM) begins the third phase of aircore drilling at the Yule Project in Western Australia
- A total of 15,000 metres of drilling will be undertaken with a focus on targeting priority areas established during the first two phases of aircore drilling
- Additionally, this will be Golden State’s first opportunity to drill the newly granted Yule East tenement E45/5570
- Golden State has applied for two additional Yule tenement areas, adding a further 22.4 square kilometres to its landholding
- Golden State ends the day 7.41 per cent in the green with shares trading at 14.5 cents
Gold and base metals exploration company Golden State Mining (GSM) has begun the third phase of aircore drilling at the Yule Project.
The Yule Project lies in the Mallina Basin of Western Australia, between 45 and 65 kilometres southwest of Port Hedland.
A total of 15,000 metres of aircore drilling will be undertaken with a focus on targeting priority areas established during the first two phases of aircore drilling.
Additionally, this will be Golden State’s first opportunity to drill the newly granted Yule East tenement E45/5570.
Managing Director Michael Moore is excited to begin drilling.
“With 15,000 metres of aircore drilling planned over gold and lithium target areas the company is once again delivering a significant multi-target drilling program,” he said.
“Of particular interest during this third phase of reconnaissance drilling is the lithium focus within the Yule east tenement, where a large granite pluton of the Split Rock Supersuite is interpreted to serve as a fertile source for LCT pegmatite mineralisation in the Mallina Basin.
“The lithium potential of this tenure has long been recognised and we are looking forward to drill testing the first batch of targets and establishing gold and lithium vectors for future drilling programs.”
Golden State has applied for two additional Yule tenement areas, E47/4586 and E45/4587, adding a further 22.4 square kilometres to the company’s landholding.
This further boosts Golden State’s holding in the Mallina Basin which now spans 730.65 square kilometres.
Golden State has ended the day 7.41 per cent in the green with shares trading at 14.5 cents in an $11.17 million market cap.