- Golden State Mining (GSM) has uncovered strong gold and arsenic anomalies from Targets 2 and 3 at Yule South in WA
- Phase one aircore (AC) drilling at Yule South has now been completed with results from Targets 1 and 5 having already been received
- Results from Target 2 peaked at 135 parts per billion (ppb) gold, while Target 3 returned up to 147ppb gold
- Furthermore, Target 2 also intersected more than 500 parts per million arsenic
- Golden State is now waiting on results from Target 4, which are expected in mid-September
- The company is also planning to undertake a phase two drilling program, which is scheduled to begin later this month
- Golden State is down 9.68 per cent in early morning trade and shares are currently trading for 28 cents each
Golden State Mining (GSM) has uncovered strong gold and arsenic anomalies from Targets 2 and 3 at Yule South.
Yule South makes up two of the four exploration licences at Golden State’s Yule Project in Western Australia.
Phase one aircore (AC) drilling at Yule South has now been completed with a total of `199 holes drilled for 13,275 metres.
On August 14, Golden State announced it had received highly encouraging results from Targets 1 and 5.
Target 2
AC drilling on Target 2 aimed to test prospective zones to the north and south of a structural corridor spanning more than 10 kilometres.
Results include four metres at 0.44g/t gold from 106 metres, four metres at 135 parts per billion (ppb) gold from 32 metres, and four metres at 81ppb gold from 75 metres.
These gold results are associated with pathfinder elements in the form of multiple arsenic anomalies.
A substantial 800 metre by 1400 metres arsenic anomaly was identified in multiple holes, and more than 500 parts per million (ppm) arsenic was intersected.
Target 3
AC drilling on Target 3 tested an interpreted ultramafic sequence, parallel to a north-northeast trending structure.
Best results include six metres at 147ppb gold from six metres, six metres at 80ppb gold from 30 metres, and six metres at 54ppb gold from 24 metres.
Pathfinder anomalies were also recorded, with three holes intersecting more than 50ppm arsenic and results peaking at 862ppm arsenic.
“The results received from Target 2 are extremely positive and continue to build upon our early success at Target 1 and our overall knowledge of the project,” Managing Director Michael Moore said.
“Yule is continuing to reveal its gold potential with every drill line and clearly demonstrating it has the right ingredients for exploration success,” he added.
Golden State is now waiting on results from Target 4 which are expected in mid-September.
Further, the company is planning to undertake a phase two drilling program, consisting of 10,000 metres and slated to begin later this month.
Golden State is down 9.68 per cent in early morning trade and shares are trading for 28 cents each at 10:25 am AEST.