Golden State Mining is awaiting assays from aircore drilling designed to assess gold in soil anomalism and a dislocated magnetic feature target at its Four Mile Well project.

The phase three reconnaissance program of 12 holes totalling 982m on the newly granted E38/3632 tenement seeks to assess recent anomalous soil geochemistry responses and potentially concealed deformed Archaean terrain and basement.

Field logging recorded variable weathered granitic intrusive lithologies beneath extensive ferruginous and kaolinitic saprolite clays.

Golden State Mining (ASX:GSM) adds that minor interpreted mafic-ultramafic greenstone lithologies were also intersected which coincide with gold in soil anomalism on the eastern side of the reconnaissance drill line.

“Taking advantage of drill rig availability, the GSM team rapidly mobilised to Four Mile Well to conduct this first pass air-core program over a potentially unrecorded deformed greenstone rock package,” managing director Michael Moore said.

“This program was completed on time and on budget and we now look forward to receiving assay results within the next five weeks.”

A total of 242 samples taken from the 12 holes have been submitted for laboratory analysis with assay results expected in late April.

Honing in on lithium

GSM is currently focused on lithium and gold exploration in Western Australia, in particular at the highly prospective Yule project in the Pilbara and the fresh Paynes Find lithium project where the company has a number of high priority targets.

Earlier this week GSM entered a binding agreement with Victory Metals (ASX:VTM) to sell 100% interest in two prospecting tenements at Cue – a move taken to focus on lithium exploration at Yule and Paynes Find.

Golden State also released a video detailing its exploration work at Paynes Find.

 

 

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.

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