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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