- Golden State Mining (GSM) completes sampling work across its Paynes’ Find and Yule projects in Western Australia
- At Payne’s Find, GSM collected 19 rock chip and 704 soil samples, with initial results showing “early encouragement” for lithium and other minerals
- At the Nomad prospect within the Yule area, GSM completed field reconnaissance work and collected additional samples from a reverse circulation hole in the area
- Managing Director Michael Moore says the company now plans to drill both projects in the first half of 2023
- Shares in Golden State Mining are down 2.2 per cent to 4.4 cents at 2:34 pm AEDT
Golden State Mining (GSM) has completed sampling work across its Paynes’ Find and Yule projects in Western Australia as it progresses exploration in the state.
At Payne’s Find, which lies in WA’s Murchison region, Golden State completed first-pass reconnaissance geochemical sampling work.
As part of this early-stage work, the company collected 19 rock chip samples and 704 soil samples.
GSM said the assays received to date from rock chip sampling have provided “early encouragement,” with anomalous and elevated lithium and associated pathfinders recorded in several samples.
Sampling results included 208 parts per million (ppm) lithium, 851 ppm rubidium and 40 ppm caesium from an igneous complex composed of coarse-grained granite and granitic pegmatite.
“These results more than justify the geological reasoning that underpinned the selection of this ground as being prospective for lithium,” GSM Managing Director Michael Moore said.
“With over 1200 squared kilometres of tenure, the company has secured a strategic landholding in this highly prospective part of the Murchison region.”
Meanwhile, at the Nomad prospect within the Yule area, which lies in WA’s Pilbara region, Golden State has completed onsite field reconnaissance work and collected additional samples from a reverse circulation hole in the area.
This hole intersected six metres at 440 ppm caesium and 88 ppm lithium, along with 5290 ppm arsenic from 103 metres.
Assay results from the extra samples are expected in late February 2023.
“Along with our recently announced results at the Nomad lithium prospect in the Pilbara, the company is now planning to drill both projects in the first half of 2023 giving investors exposure to two very exciting and emerging lithium opportunities,” Mr Moore said.
Shares in Golden State Mining were down 2.2 per cent to 4.4 cents at 2:34 pm AEDT.