Get your tools and start looking, cause Golden State Mining has found pegmatites in WA gold country
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Special report: WA’s Paynes Find is a traditional gold hotspot but Golden State Mining has identified pegmatite dykes, raising the lithium hosting potential of the gold rush locale.
While the hunt continues for lithium and gold at Yule in the Pilbara’s Mallina Basin, Golden State Mining (ASX: GSM) has been encouraged by the discovery of a series of pegmatite dyke “swarms” at Paynes Find Central and Paynes Find North in the Murchison region.
GSM collected 19 rock chip samples from common pegmatite exposures in an area with anomalous lithium, caesium and rubidium values delineated in a recent soil sampling program. Numerous sub-cropping to outcropping pegmatite dyke-like intrusives with weak-to-moderate weathering were recorded.
Samples have been submitted for lithium suite analysis with results expected early next month.
GSM’s Paynes Find project, about 30km north of the township of the same name, is comprised of five exploration licences and one exploration licence application covering a total area of more than 1,300km2.
Previous explorers have focused mainly on the greenstone belts adjacent to the project area with only minor and unsystematic exploration work completed on GSM’s tenure to date. The focus has traditionally centred on gold, base metals and iron ore.
Paynes Find is hosted in the same region as the operating Golden Grove copper-gold mine as well as the Rothsay and Kirkalocka gold deposits. Lithium-bearing pegmatites have also previously been identified at places such as Mount Edon and Goodingnow.
GSM managing director Michael Moore said the company’s latest field trip to Paynes Find was designed to follow up on previously reported anomalous lithium, caesium and rubidium assay results.
“The Paynes Find project was pegged by GSM after a high-level targeting exercise identified it as having the right geological attributes to host lithium mineralisation,” he said.
“We now look forward to finalising drill target areas and undertaking drilling in early 2024.”
GSM indicated any positive results for lithium, caesium, tantalum or rare earths would be “vigorously pursued” via prospect-scale field and structural mapping as well as detailed rock chip sampling.
Drilling applications are being prepared across all granted tenure at Paynes Find with one approval received to date for aircore drilling at the Paynes Find Central and Paynes Find North areas.
Further permitting works for heritage and environmental clearances are now in progress.
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.