Early gold hits show Golden State is on the right path at Yule South
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Special Report: Golden State Mining reports highly encouraging first pass drilling results in the hunt for a ‘frontier’ type gold discovery at its Yule South project in WA.
Yule South is right next door to De Grey’s Hemi gold discovery, which represents something very new and exciting for the Pilbara’s Mallina region.
Today, the explorer reported gold in assays from multiple holes in targets 1 and 5, validating its sound geological ‘greenfield’ (unexplored) targeting model and strong prospectivity of this vast, untouched West Pilbara project area.
Target 1 returned a best intercept of 8m at 0.92 grams per tonne (g/t) gold from 96m, including 4m at 1.81g/t gold from 96m.
Target 5 returned a best intercept of 19m at 91ppb (parts per billion) gold from 46m, including 4m at 350ppb gold from 58m.
Results from Targets 2,3 and 4 are pending.
“We are pleased with the calibre of these first pass gold results, having drilled gold intersections in just our first two targets of an essentially untested regional project area in an emerging gold district,” Golden State managing director Michael Moore says.
“To drill a gold intersection of 8m at 0.92g/t gold from 96m including 4m at 1.81g/t gold from 96m in only the second drill hole of the 199-hole program speaks volumes about our targeting and strategy up at Yule.”
This is true frontier exploration. The drill results returned from this wide-spaced reconnaissance aircore drilling were based solely on aeromagnetic interpretation in the first two areas drilled.
“[This] validates the sound geological greenfield targeting and strong prospectivity of our extensive West Pilbara ground holding,” Moore says.
Golden State will receive further assay results for Targets 2, 3 and 4 from the program over the course of the next month before recommencing phase-two drilling in September.
Based on these initial results and geological observations, two new gold-prospective target corridors have already been uncovered:
A 5km structural corridor has been interpreted from the aeromagnetic data based on the drill results from Target 1.
In addition, a broad target area to the east of Target 5 is interpreted as a continuation of the prospective mafic-ultramafic package logged in this area.
Both areas will be the subject of future drill planning in the coming months, the company says.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.