Golden State is hitting six new gold and base metal targets at Yule

Special Report: Golden State Mining (ASX:GSM) is testing six new ‘frontier’ targets at the Yule Project – located in WA’s red-hot Mallina gold province –with up to 15,000m of reconnaissance drilling.

One of the main reasons Yule and the surrounding region has never been explored effectively is the 5m-60m layer of cover that ‘hides’ the underlying geology.

Golden State had to rely on geophysical methods to find the most compelling targets, which are being drilled right now.

In late April, Golden State announced it would boost the scale of a maiden drilling program at ‘Yule South’ — 13km from De Grey’s Hemi discovery — to provide a more robust test of the five priority gold targets.

This recently completed maiden drilling program by Golden State 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 drilling.

Phase 2 drilling campaign has now commenced, consisting of up to 15,000 metres of AC drilling to test target areas at ‘Yule South’ and ‘Yule North’.

Two more target zones will be tested at Yule South during Phase 2, in addition to further drilling at Targets 2 and 3 from the first phase of drilling.

Phase 1 Drilling at Target 2 had uncovered a substantial 800m x 1400m high arsenic gold anomaly across multiple drill holes, while drilling at Target 3 intersected another diorite intrusive with corresponding anomaly.

At Yule North, Golden State selected four priority gold and base metal target areas along the prospective Sholl Shear Zone (SSZ) – a potential source of mineralisation — and the Balla Yule prospect.

The Balla Yule prospect — a large, 4.2 x 1.8 km ‘dome’ feature — is compelling.

In 2019, moving loop electromagnetics identified a coherent bedrock anomaly that has been modelled as a large (~750m x 900m), moderate conductance ‘plate’ at Balla Yule.

This conductor happens to sit right underneath historic low-grade nickel, lithium and cobalt drilling results.

This drilling will last about 6 weeks, with first drill results expected in November.

“The results gained from the inaugural aircore reconnaissance drilling program at Yule South are further evidence that this region has all the hallmarks of a premier gold exploration destination,” Golden State managing director Michael Moore says.

“GSM is strategically positioned with ~700km2 of tenements and we look forward to embarking on our phase 2 (up to 15,000m) drilling programme over 6 target areas with an enhanced understanding of the substantial exploration potential in the Mallina Basin.”

This story was developed in collaboration with Golden State Mining, a Stockhead advertiser at the time of publishing.

This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.