Golden State completes drilling to refine future Yule targets
Special Report: Golden State has wrapped up its second phase of reconnaissance aircore drilling that has tested six ‘frontier’ targets at its Yule project in WA’s Mallina gold province.
The 196 hole program totalling 15,125m is designed to test two target areas at Yule South and four at Yule North as part of the company’s efforts to properly explore Yule, where approximately 30m of cover had effectively thwarted previous exploration by covering the underlying geology.
First assay results are expected in late November with Golden State Mining (ASX:GSM) saying that further results are expected throughout December.
“We’re very pleased to have successfully completed another phase of drilling without incident, ahead of schedule and under budget which brings our total drilling at Yule in 2020 to 28,400 metres,” managing director Michael Moore said.
“The results of these first two reconnaissance drill programs will form the basis for our targeting program in 2021 as we look to deploy further resources on our +700km2 tenement package in the highly prospective Mallina Basin.
“Follow up RC drilling based on the Phase 1 drill results and potentially the Phase 2 drilling will be required.”
Moore added that further reconnaissance air-core drilling is planned over new target areas that were defined following a recent geophysical data review on newly granted and pending tenements.
The Phase 2 drilling targets at Yule South are focused on interpreted intrusive settings on west-north-west and north-south structures.
Phase 1 drilling at Yule South had uncovered broad zones of hydrothermal alteration and veining in several areas and multiple +100ppb gold intersections. At Target 1 two holes, on sections 320m apart intersected quartz veining in an interpreted north-south trending structure with a best intercept of 4m at 2.3g/t from 99m including 1m at 7.6g/t from 99m. Target 2 drilling revealed a substantial 800m x 1400m high arsenic gold anomaly across multiple drill holes.
An anomalous high arsenic interval hosted in an interpreted diorite intrusive was intersected at Target 3 while at Target 5 an altered intrusive style rock was intersected a broad gold anomalous zone including 4m at 0.3g/t Au from 58m
Meanwhile, drilling at Yule North has focused on prospective zones along the Sholl Shear Zone that are prospective for gold and base metal mineralisation along with the intriguing Balla Yule prospect.
The Balla Yule prospect – a large, 4.2 x 1.8 km ‘dome’ feature, interpreted as an Archaean layered intrusion contains historical low-grade nickel, lithium and cobalt drilling results.
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.