Busy Golden State charges ahead at Four Mile Well as battery metals beckon
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Golden State Mining has wrapped up aircore drilling at its Four Mile Well gold project near Laverton, ahead of what looms as a busy period for the precious and battery metals explorer.
Golden State (ASX:GSM) recently took aircore rigs to Four Mile Well and ultimately drilled 27 holes for 1162m as part of a reconnaissance program designed to assess concealed Archaean terrain and basement below anomalous soil geochemistry responses.
On the back of that program, 316 samples have been submitted to the lab for assay – with results expected in mid-August. One to watch with interest.
Never a company to rest on its laurels, GSM is planning ahead for a busy period of exploration at its suite of WA projects, with a particular focus on gold, lithium and battery metals.
The company is currently seeking out a drill contractor for focused lithium and gold RC drilling within its flagship Yule project’s Target 2 prospect. Given all statutory approvals are in place, that program is expected to be deployed rapidly once a suitable rig is secured.
A program of work submission to the WA Department of Mines, Industry Regulation and Safety has also been completed for the next phase of aircore drilling at Yule.
Additionally, heritage surveys are expected to take place in July ahead of this program and leading into a planned reverse-circulation drill program at the enticing Balla Yule nickel, cobalt, copper and lithium prospect.
Yule sits in the Pilbara’s underexplored Mallina Basin – a short distance from De Grey Mining’s (ASX:DEG) head-turning Hemi gold discovery which currently has a mineral resource estimate of 8.47 million ounces contained gold.
Prime territory indeed.
In addition to its drilling progress, GSM has been granted another new exploration licence within its Payne’s Find lithium project – bringing an additional 99.6km2 of land to the project with approximately 22km strike length along a potential VMS-style target corridor on an interpreted greenstone contact.
The company recently completed an initial field reconnaissance trip over its granted tenure in the northern and central parts of the project area, and has conducted initial stakeholder consultation with supportive local pastoralists,
A review of available geophysical data has also been completed at Payne’s Find, with interpretation ongoing.
GSM is currently carrying out further field reconnaissance planning and regolith assessment on the western side of Payne’s Find North to determine the best way to test the potential VMS corridor.
Speaking on the latest news out of the company, Golden State managing director Michael Moore says the company had taken every opportunity to progress with its busy exploration plans.
“Taking advantage of drill rig availability, the GSM team rapidly mobilised to Four Mile Well to conduct the first-pass aircore program over a potentially unrecorded greenstone rock package,” he says.
“This program was completed on time and on budget and we now look forward to receiving assay results within about five weeks.
“Meanwhile, the company is actively looking to source an RC drill rig for its fully permitted ~1500 metre lithium and gold focused program at Yule, as well as planning reconnaissance work at its exciting Paynes Find lithium project in the Murchison.
“With activity across a number of our self-generated projects across WA, investors can look forward to significant activity over the second half of 2022.”
Moore was recently quoted by multiple news outlets, including Stockhead, expressing his belief that EV makers would soon need to fund battery metal exploration in order to secure future supply.
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.