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Golden State’s new project has tantalising lithium, base metals potential
Mining
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Golden State Mining (ASX:GSM) has secured an extensive greenfields project in Western Australia’s Murchison region that is prospective for both lithium and base metals.
While originally targeted primarily for its lithium prospectivity, the three tenements that make up the northern block of the 1,200sqkm Payne’s Find project have had their base metal prospectivity enhanced by the Tempest Minerals’ (ASX:TEM) recent massive sulphide discovery at their Meleya project just 30km to the west, which highlighted the importance of unidentified greenstone sequences in the region and their base metal potential.
The company can also lock down more of the region with three additional tenement applications pending.
“The diligent targeting work carried out by GSM during the second half of 2021 is already paying off for the company with the recent granting of two out of five tenement applications at Payne’s Find, greatly increasing GSM’s footprint across Western Australia,” managing director Michael Moore said.
“The GSM team will be on-site in the coming weeks to commence a preliminary geological evaluation of the granted tenements as we fast-track exploration work at Payne’s Find.”
Payne’s Find prospectivity
Golden State’s ground is located immediately east and 30km north of Payne’s Find and was secured for its lithium and base metal potential based on open file aeromagnetic and remote sensing data evaluation.
This includes the region having been known to host lithium-bearing pegmatites and possessing a favourable geological setting for potential lithium mineralisation comprising multiple granitic intrusive episodes that intrude into a potential extension of the “Youanmi Terrane” greenstones.
Project-scale lithium targeting work has already commenced on the new, underexplored tenure of the entire project area while work is underway to assess the interpreted base metal potential corridor on the western part of the Payne’s Find North tenements.
The company plans to carry out further reconnaissance and initial soil sampling work in the coming weeks.
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.
