Air-core rigs are on the ground at Golden State Mining’s Four Mile Well gold project north of Laverton, as the company follows up leads in a previously untested greenstone corridor.

Golden State (ASX:GSM) has revealed exploration drilling is underway at Four Mile Well, following up multiple gold target areas identified when the company merged promising recent surface geochemical and field observation datasets with historic geochemical and aeromagnetic structural interpretation work.

The result is the current air-core campaign over interpreted structural and geochemistry corridors, which commenced on June 17.

GSM MD Mike Moore said the company was excited to have rigs on the ground at the project.

“It’s always exciting to be able to report on the commencement of a new drill program,” he said.

“The recent geochemical work that we completed at our Four Mile Well project has potentially identified an interpreted greenstone rock package.

“This new interpretation along with recent soil sampling work, which provided correlation with historic data, has resulted in the fast tracking of an air-core drill program which commenced over the weekend.

“The company has significantly expanded its Four Mile Well exploration footprint in the past 12 months and the recent soils results and the commencement of drilling is a significant milestone as we look to establish the gold credentials of the greenstone rock package.”

There could well be golden times ahead for GSM.

Cashed up and ready to go

GSM is well funded to hit the ground hard with exploration in the second half of 2022, having raised $2.5 million in April to fund its drilling plans.

While gold is the focus of this campaign the company’s project suite includes Four Mile Well near Laverton, the Flagship Yule project in the Pilbara – prospective for a suite of minerals including lithium, gold, nickel, cobalt and copper – and the recently pegged Payne’s Find lithium project in the Murchison.

Golden State’s lithium expertise was recently highlighted in a feature story with Stockhead, where Moore expressed his view that EV makers would need to get involved in funding lithium exploration to secure future supply of the battery metal.



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.