Newly minted Golden State is already discovering fresh gold at Cue
Mining
Mining
ASX rookie Golden State Mining is hitting shallow gold grades of up to 56.6 grams per tonne (g/t), 500m from historic mining and exploration areas at its Cue gold project.
The junior explorer (ASX:GSM), which listed in November, told investors that the drilling program at its Cue gold project has demonstrated the prospectivity of the historic mining areas.
But the 56.6g/t high-grade gold intercept was “particularly significant”, as the mineralised quartz vein zone was 500m north of the historic ‘Light of Asia’ mine and related historic drilling.
A gold mine with grades of 5g/t or higher is usually considered high-grade.
Like many of its peers, Golden State made a subdued ASX debut in November, closing at 17.5c compared to its 20c issue price.
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