Special Report: Golden State Mining (ASX:GSM) has already identified four gold targets for drilling in 2021 at a new tenement in the Mallina Basin of WA.
Golden State is now one of the most active explorers in the Mallina Basin – home to De Grey’s (ASX:DEG) world class Hemi gold discovery — with a regional scale ground holding at its flagship Yule project.
“The recent granting of tenement E47/4343 adds further strategic tenure to the GSM Yule holdings and crucially covers a significant section of the Sholl Shear Zone,” Golden State managing director Michael Moore says.
The Sholl Shear Zone (SSZ) is a potential source of deep, ancient gold-bearing fluids.
“The interpretation of the recently acquired aeromagnetic data set has highlighted four more gold target areas in an intrusive environment for the company to investigate in 2021,” Moore says.
Historic data shows only limited (four holes) base metals-only drilling within this tenement.
Drilling blitz
Meanwhile, exploration at the wider Yule project WA continues apace.
A recently completed maiden drilling program confirmed underexplored Yule as having all the hallmarks of a “premier gold exploration destination”.
The final results revealed the potential for large mineralised systems, prompting immediate follow-up.
Golden State is now testing six new ‘frontier’ targets at Yule with up to 15,000m of reconnaissance drilling.
This second phase of aircore drilling over six target areas is progressing well with 106 holes completed for a total advance of 7,871m.
Drilling at three target areas is now complete, the company says. Assay results are expected throughout December.
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.