Golden State Mining (ASX:GSM) completes RC drilling at Yule project

• Golden State Mining (GSM) completes reverse circulation drilling at its lithium and gold targets within Target2A at the Yule project in the Pilbara region of WA
• The program included 10 holes for a total of 1478 metres of drilling
• GSM reported an anomalous result from one hole which intersected eight metres at 21 parts per billion gold from 63 metres and three metres at 128 parts per million lithium from 91 metres at the end of the hole
• Managing Director Michael Moore is pleased to complete the drilling program
• GSM shares are down 3.45 per cent to close at 5.6 cents each

Golden State Mining (GSM) has completed reverse circulation (RC) drilling at its lithium and gold targets within Target2A at the Yule project in the Pilbara region of Western Australia.

The program included 10 holes for a total of 1478 metres of drilling.

The first area drilled was target L3, however the two holes drilled in the area failed to reach the target depth of 150 metres due to drilling related issues. Due to this, GSM bought a larger and powerful RC rig to the site, completing the remaining holes.

Samples from the two holes have been sent to Perth for assaying before the replacement rig arrives on site.

Golden State said the only anomalous results were recorded in hole 22GSYSRC0020 which intersected eight metres at 21 parts per billion (ppb) gold from 63 metres and three metres at 128 parts per million lithium from 91 metres at the end of the hole.

“We are pleased to have completed our Yule project lithium and gold focused RC drilling campaign at Target 2A,” Managing Director Michael Moore said.

“This 1478-metre program was designed to follow up on the anomalous lithium pathfinder elements identified in previous aircore drilling as well as a significant arsenic anomaly.”

Additionally, the company has received assay results from its reconnaissance aircore drill program completed at Four Mile Well in early July. This program included 27 holes for 1162 metres.

Three of the aircore holes returned gold intercepts that were considered anomalous. The most significant intercept was recorded in hole 22GSFMAC0069 which returned four metres at 224 ppb gold from 16 metres in an interpreted porphyry unit.

GSM shares were down 3.45 per cent to close at 5.6 cents each.