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Golden State goes for gold at Hemi-neighbouring Yule project
Mining
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Drilling is underway at Golden State Mining’s Yule gold project in the Pilbara’s Mallina Basin, as the company aims to find the region’s next great discovery in the footsteps of recent trailblazers.
The current work comprises 4000m of reverse circulation drilling over four gold target areas identified by Golden State (ASX:GSM) during last year’s extensive exploration program.
Target 1 East is a mineralised shear neighbouring an interpreted intrusive, where 4m at 2.3 grams per tonne gold was previously recorded, including 1m at 7.6g/t gold from 99m.
Target 1 West is home to interpreted buried intrusives similar to that of Hemi, the De Grey Mining (ASX:DEG) behemoth where a maiden mineral resource of 6.8 million ounces was recently defined with plenty of exploration upside.
That project is a near-neighbour to Yule, sitting just 15km to the south-east.
Target 2A features an 800m by 1400m arsenic anomaly – often a gold pathfinder – as well as some anomalous gold intersections.
The last of the targets to be drilled, Target 5 is home to widespread quartz-sericite-pyrite and local magnetite alteration which may be indicative of a large scale gold system.
Having experienced some delays in getting the rig turning, GSM managing director Mike Moore said the company was pleased to have things underway.
“The company is very pleased to have secured a drill rig in this current environment where availability is a big challenge,” he said.
“This means we can now move ahead and commence our highly anticipated 4000m follow-up RC drilling program over the interpreted intrusive style targets which were confirmed during the first two phases of aircore drilling in 2020.
“The company is continuing to generate and systematically test targets within its strategic ground position in the Mallina Basin, with just over 700km2 of tenements now granted at Yule.”
More exploration to come
The planned RC drilling program is just one of the many GSM has lined up for the second part of 2021.
The company plans to undertake a 1500m RC lithium program on four targets at Yule, as well as a massive 15,000m gold and lithium aircore program on its highly prospective ground.
They’ll be hoping to replicate De Grey’s success at Hemi – a tier-one gold discovery down the road which made headlines across the country.
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.
