Fieldwork bolsters Golden State’s confidence in lithium projects potential

Lithium, gold and base metals player Golden State Mining is progressing exploration at its self-generated Payne’s Find lithium project in the Murchison region and the newly named Nomad lithium prospect at the Yule Project in the Pilbara region of WA.

The company has completed first phase reconnaissance geochemical sampling at Payne’s Find and collected 19 rock chip samples and 704 soil samples over priority areas of interpreted shallow cover and stripped regolith profile with areas of sub-crop. Assay results from the soil sampling are expected in late February 2023.

Assay results from the rock chip sampling include 208ppm Li – 851ppm Rb & 40ppm Cs from an igneous complex composed of coarse-grained granite and granitic pegmatite. Golden State Mining (ASX:GSM) says these results have provided early encouragement with good correlation between lithium and associated pathfinders recorded in several samples suggesting a fertle granite source with evidence of fractionation.

Exposure to two emerging lithium opportunities

“The company’s self-generated and recently granted tenure at Payne’s Find has provided encouraging early results from our first reconnaissance work expedition to site,” MD Michael Moore said.

“These results more than justify the geological reasoning that underpinned the selection of this ground as being prospective for lithium.

“With over 1,200 km² of tenure, the company has secured a strategic landholding is this highly prospective part of the Murchison region.

“Along with our recently announced results at the Nomad lithium prospect in the Pilbara, the company is now planning to drill both projects in the first half of 2023 giving investors exposure to two very exciting and emerging lithium opportunities.”

Nomad prospect shows potential

The company recently completed further field reconnaissance onsite and collected additional samples from RC hole 22GSYSRC0024 at the Nomad prospect at the Yule Project.

The hole intersected 6 metres at 440ppm Cs and 88ppm Li along with 5290ppm As from 103 metres. Notably, these levels of caesium are considered highly anomalous and indicative of a proximal pegmatite source.

Assay results from these extra samples are expected late February 2023.

This article was developed in collaboration with Golden State Mining Limited (ASX:GSM), 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.