- Gold and base metals explorer Golden State Mining (GSM) has found highly encouraging assay results at its Yule project in Western Australia
- The company completed a phase one aircore drilling program over five targets in Yule South
- Golden State found gold assays from multiple holes in targets one and five
- The remaining targets are still awaiting results
- Now, phase two and follow up drilling is planned in September 2020
- On the market this morning, Golden State Mining is down 14.3 per cent and is trading for 33 cents each
Gold and base metals explorer Golden State Mining (GSM) has found highly encouraging assay results at its Yule project in WA.
The phase one aircore program completed over five gold targets in Yule South. Golden State has found gold assays from multiple holes in target one and five, while the other targets are still awaiting results.
Target one’s best intercept includes eight metres at 0.92g/t gold from 96 metres, including four metres at 1.81g/t of golf from 96 metres. While target five best intercept included 19 metres at 91 parts per billion of gold from 46 metres including four metres at 350 parts per billion of gold from 58 metres.
Managing Director Michael Moore is pleased with the gold results and says its “speaks volumes about our targeting and strategy.”
“Having drilled gold intersections in just our first two targets of an essentially untested regional project area in an emerging gold district,” he said.
Based on these initial results and geological observations, two new target corridors has been interpreted. These corridors will be subject to a drill planning in the coming months.
Phase two and follow up drilling is planned in September 2020.
On the market this morning, Golden State Mining is down 14.3 per cent and is trading for 33 cents each at 10:21 am AEST.