Golden State unlocking Yule’s full potential with valuable new data
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Special Report: Golden State has got its hands on some very important data for its Yule project that will boost its targeting ability in the highly prospective Mallina Basin.
Golden State Mining (ASX:GSM) has acquired a significant aeromagnetic dataset that covers 53 per cent of the total Yule project area or 84 per cent of the Yule South project.
And the company isn’t wasting a minute in analysing this higher resolution data, with reprocessing work already underway.
“The acquisition and reprocessing of the aeromagnetic data set for the Yule project is another boost for the company and significantly enhances its gold targeting strategy in the Mallina Basin,” managing director Michael Moore said.
“We have already commenced the reprocessing of this high-resolution proprietary data as we target structural environments favourable for intrusive settings.”
Previous reconnaissance aircore drilling undertaken by Golden State uncovered a 1400m by 800m arsenic anomaly with multiple +100 parts per billion gold intersections.
The presence of arsenic is important because it is often associated with gold mineralisation in the Mallina Basin.
Golden State’s Yule South project has already shown similar geology and ground cover to the nearby and highly successful Hemi project, where drilling has returned consistently thick intersections of gold.
“The gold-hosting potential of the Mallina Basin has already been established locally by Golden State’s phase-one aircore drilling, which confirmed the presence of gold mineralisation within the Yule South tenements,” Moore said.
“Additional target generation based on the newly acquired magnetic data will increase the pedigree of GSM’s Yule tenements and enhance their potential with each phase of exploration.”
Golden State bought the aeromagnetic dataset from Core Geophysics.
The data was generated from an aeromagnetic survey (100-metre spaced) flown by Fugro Airborne Surveys in 2006.
Core Geophysics will now merge the recently acquired aeromagnetic data with GSM’s existing open file dataset and use this combined data to produce an enhanced geological interpretation.
Golden State says the dataset will provide far greater resolution from which to interpret additional structurally hosted gold targets with a focus on intrusive environments.
The company plans to start a phase-two aircore drilling program of 10,000 to 15,000m in the first week of October.
The new program will test target areas at Yule South and Yule North.
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.