- Golden State Mining (GSM) has completed its phase two aircore (AC) drilling program at the Yule Project in WA ahead of schedule
- The gold and base metals explorer began drilling in early October to test target areas at the Yule North and Yule South tenements
- 196 holes have now been completed, with results expected throughout late November and into December
- Golden State has planned further AC drilling over new target areas within newly granted and pending tenements
- Company shares are up 6.52 per cent on the market and are trading for 24.5 cents
Golden State Mining (GSM) has completed its phase two aircore (AC) drilling program at the Yule Project ahead of schedule.
Yule lies in the Mallina Basin of Western Australia, between 45 and 65 kilometres southwest of Port Hedland.
The company began drilling in early October to test target areas at the Yule North and Yule South tenements.
196 holes have now been completed, for 15,125 metres, across six main target areas, with two at Yule South and four at Yule North.
Drilling at Yule South focused on structural and intrusive targets, while work at Yule North focused on prospective zones along the Sholl Shear Zone and Bella Yule Prospect.
The first batch of results are expected in late November from Yule South, and the remaining are expected during regular intervals throughout December.
“We’re very pleased to have successfully completed another phase of drilling without incident, ahead of schedule and under budget which brings our total drilling at Yule in 2020 to 28,400 metres,” Managing Director Michael Moore commented.
“The results of these first two reconnaissance drill program will form the basis for our targeting program in 2021 as we look to deploy further resource on our tenement package,” he said.
“Further reconnaissance AC is also planned over new target areas, defined as a result of a recent geophysical data review on newly granted and pending tenements,” he added.
Golden State is up 6.52 per cent on the market with shares trading for 24.5 cents each at 12:57 pm AEDT.