Special Report: Assay results from Golden State’s (ASX:GSM) maiden program at Yule South – which neighbours De Grey’s (ASX:DEG) company making Hemi gold discovery — will be received and released in batches over the next four to five weeks.

De Grey’s Hemi discovery represents something very new and exciting for the Mallina region, and is already shaping up as a multi-million-ounce deposit.

Golden State’s extensive 199 hole, 13,275m Phase 1 drilling program at Yule South focused on five gold targets which had never previously been drilled.

“We are looking for certain things, similar looking targets in the geophysics to Hemi,” Golden State managing director Michael Moore told Stockhead in May.

“We are also looking for intrusives and good structure – and these targets tick those boxes.”

Phase 2 aircore drilling at Yule South is already being planned for September, Moore says.

“In this first phase of our campaign, the company drilled over 13,000m across the initial 5 targets at Yule South and we now await the assay results as we plan Phase 2 drilling in September this year,” he says.

“With 715sqkm of tenements, GSM is well positioned in this emerging gold exploration destination.”


Yule North

Golden State is also planning air core drilling at Yule North, due to kick off late in the current quarter.

A deeper, more focused RC drilling program at the large Balla Yule target is planned for the final quarter of 2020.



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.