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Golden State Mining (ASX:GSM) has revealed an independent review from third party consultants has given it three new drill targets for Q1 CY2025.
Chasing gold at its Yule project (as well as its Canning Hill and Southern Cross East projects, all WA based,) a 4,000 metre aircore drill run is slated for Yule in the first three months of next year; drilling proposals are lodged with the Western Australian government for the latter two assets.
This, GSM MD Michael Moore said on Monday, is the result of an independent review carried out by RSC Consultants.
“GSM commissioned… a full independent review of all the Yule Project exploration data in October 2024,” Moore explained.
“Pleasingly, RSC’s review has identified three areas where GSM needs to further concentrate its exploration efforts.
“The proximity and significant scale of the De Grey Hemi gold discovery with respect to the GSM tenements has been a driver of our commitment and focus to the Yule project.”
That Hemi deposit is no longer De Grey’s – not really – after Northern Star moved in on the company last week. While that takeover offer hasn’t officially passed, it’s pretty clear shareholders were into the idea of being snatched up.
Not that that makes the nearology perspective any less – or any more – outright speculative. While Yuie is in effect the company’s flagship, Moore asserted on Monday recent fieldwork at Canning Hill and Southern Cross East has further boosted confidence in the whole portfolio.
“The recently received results from … Canning Hill in order to obtain rock chip and soil samples to verify previous operators’ data has done just that,” Moore said.
“It is satisfying to note at Target 2, we feel the alignment of our results with that of previous explorers has more than validated it as a priority drill target.”
As for Southern Cross East: Soil anomalies are the name of the game.
GSM last traded at 0.9cps.
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