Special Report: Golden State continues to build up evidence that it is onto something potentially big at the Yule South project with drilling retuning anomalous gold.

Reconnaissance aircore drilling at Target 2 has defined a 1400m by 800m arsenic anomaly with multiple +100 parts per billion gold intersections, which is exciting for the company as arsenic is often associated with gold mineralisation in the Mallina Basin.

This is further bolstered by Golden State Mining’s (ASX:GSM) Yule South project sharing similar geology and ground cover to the nearby and highly successful Hemi project, where drilling has returned consistently thick intersections of gold.

The company noted that the footprint and presence of anomalous gold-arsenic results in this poorly tested Pilbara terrain forming the building blocks for a potential large, new mineralised system that requires follow-up exploration.

“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 noted.

“The exploration team were impressed at the consistency and tenor of the arsenic grades we encountered from the bottom of hole assays in this area.

“Their relationship with the intersected gold mineralisation will be our primary focus at this target which will require follow up RC (reverse circulation) drilling. Overall, these constructive results will greatly assist our ‘vectoring in’ strategy and our future targeting work.”

Moore said the company was now preparing for phase-two aircore drilling program, which is set to begin in about three weeks, and was carrying out evaluation work on the follow-up programs for Target 1, where drilling hit 8m at 0.92 grams per tonne (g/t) gold from a depth of 96m, and Target 2.

Final assays are also expected from Target 4 and the additional drilling at Target 1 in mid-September.

Target 2 cross section showing gold and arsenic anomalies Pic: Supplied

Narrowing the focus for further gold exploration

Aircore drilling at Target 2 tested prospective zones in the north and south of a 10km structural corridor ‘squeezed’ between nested and deformed granitoid complexes.

Two reconnaissance drill-lines on the southern section were characterised by a marked variable weathering profile, moderate schistosity, and minor, patchy quartz veining.

Multiple gold intercepts, including 4m at 0.44g/t gold from 106m, were recorded in 4m composite samples, while an unusually high gold anomaly of 6m at 101ppb from 18m was also recorded in the cover sequence in the same hole.

Most of the results on these two drill traverses have been intersected in the weathered saprolite clay horizon developed immediately above the fresh bedrock.

However, strongly anomalous gold results have also been returned from the fresh bedrock which is also moderately to strongly hydrothermally altered and sheared.

Elevated gold results were also recorded in 6m composites samples from drilling at Target 3.

This included a 6m at 147ppb gold hit from 6m downhole in a sand and clay sequence with a silcrete horizon.

This article was developed in collaboration with Golden State Mining, a Stockhead advertiser at the time of publishing.


This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.