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GOLDEN STATE MINING LIMITED - Corporate Spotlight

Golden State Mining Unlocking Gold Assets in Western Australia, with a strong focus on... Golden State Mining Unlocking Gold Assets in Western Australia, with a strong focus on the Yule Region, Pilbara. The prospectivity of the Yule Region has recently been highlighted by De Grey Mining's Hemi discovery, with GSM focused on drilling its multiple Gold Targets across its 702 sq/km ground holdings.More

Corporate Spotlight

Golden State Mining Unlocking Gold Assets in Western Australia, with a strong focus on the Yule Region, Pilbara. The prospectivity of the Yule Region has recently been highlighted by De Grey Mining's Hemi discovery, with GSM focused on drilling its multiple Gold Targets across its 702 sq/km ground
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GSM RECEIVES FIRST RESULTS FROM YULE SOUTH

GSM COMPLETES AIRCORE DRILLING AT YULE

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Golden State Mining (ASX:GSM) completes aircore drilling at Yule


ASX:GSM 
Aircore drilling at the Yule Project. Source: Golden State Mining

  • Golden State Mining (GSM) completes a 213-hole aircore drilling program at the Yule Project in WA’s Mallina Basin
  • The program focused on 18 gold and lithium targets across the Yule North, Yule East and Yule South areas
  • All samples from this program have been sent for analysis and Golden State expects to receive the first batch of results in late December

    Read the Full Article on The Market Herald here

GSM BEGINS RC DRILLING AT YULE

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Golden State Mining (ASX:GSM) begins RC drilling at Yule

Mining

ASX:GSM
Source: Golden State Mining 

  • Gold and base metals exploration company Golden State Mining (GSM) begins reverse circulation (RC) drilling at the Yule Project in Western Australia
  • Around 4000 metres of RC drilling will be completed across Target 1 East, Target 1 West, Target 2A and Target 5
  • Focus will be on intrusive style targets confirmed during aircore drilling undertaken in 2020

Gold and base metals exploration company Golden State Mining (GSM) has begun reverse circulation (RC) drilling at the Yule Project.


The Yule Project lies in the Mallina Basin of Western Australia, between 45 and 65 kilometres southwest of Port Hedland.


Around 4000 metres of RC drilling will be completed across Target 1 East, Target 1 West, Target 2A and Target 5.


Target 1 East


Previous magnetic inversion modelling has identified an interpreted intrusive feature that has not been adequately tested by aircore blade drilling.


However, this aircore drilling returned a result of four metres at 2.3 grams of gold per tonne (g/t) including one metre at 7.6g/t gold from 99 metres.


Target 1 West


Significant silica and pyrite alteration has been identified at Target 1 West as well as multiple intersections of anomalous gold values.

Golden State believes these indicate a potential mineralised intrusive at depth.


Target 2A


Phase one aircore drilling at Target 2A outlined a 1400 by 800 metre arsenic anomaly with following drilling confirming the anomaly and widespread quartz and tourmaline vein development.


This suggests a potentially significant mineralised system at depth.


Target 5


Previous work suggests the mafic package identified between altered granitoid intrusions has been subject to silification with sericite and pyrite alteration.


Target 5 has also recorded the presence of anomalous gold intercepts and zones of significant magnetite and leucoxene alteration.

Managing Director Michael Moore is pleased to begin drilling and is looking forward to receiving results.


"The company is very pleased to have secured a drill rig in this current environment where availability is a big challenge," Mr Moore said.


"This means we can now move ahead and commence our highly anticipated 4000 metre follow up RC drilling program over interpreted intrusive style targets which were confirmed during the first two phases of aircore drilling in 2020."


Read the Full Article on The Market Herald here

GSM UNCOVERS STRONG GOLD AT YULE

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Golden State Mining (ASX:GSM) uncovers strong gold and arsenic anomalies at Yule South

Mining

ASX:GSM    MCAP $17.55M 




Managing Director, Mike Moore
Source: HotCopper


  • Golden State Mining (GSM) has uncovered strong gold and arsenic anomalies from Targets 2 and 3 at Yule South in WA
  • Phase one aircore (AC) drilling at Yule South has now been completed with results from Targets 1 and 5 having already been received
  • Results from Target 2 peaked at 135 parts per billion (ppb) gold, while Target 3 returned up to 147ppb gold
  • Furthermore, Target 2 also intersected more than 500 parts per million arsenic
  • Golden State is now waiting on results from Target 4, which are expected in mid-September
  • The company is also planning to undertake a phase two drilling program, which is scheduled to begin later this month
  • Golden State is down 9.68 per cent in early morning trade and shares are currently trading for 28 cents each

Golden State Mining (GSM) has uncovered strong gold and arsenic anomalies from Targets 2 and 3 at Yule South.

Yule South makes up two of the four exploration licences at Golden State's Yule Project in Western Australia.


Phase one aircore (AC) drilling at Yule South has now been completed with a total of `199 holes drilled for 13,275 metres.

On August 14, Golden State announced it had received highly encouraging results from Targets 1 and 5.


Target 2

AC drilling on Target 2 aimed to test prospective zones to the north and south of a structural corridor spanning more than 10 kilometres.


Results include four metres at 0.44g/t gold from 106 metres, four metres at 135 parts per billion (ppb) gold from 32 metres, and four metres at 81ppb gold from 75 metres.


These gold results are associated with pathfinder elements in the form of multiple arsenic anomalies.

A substantial 800 metre by 1400 metres arsenic anomaly was identified in multiple holes, and more than 500 parts per million (ppm) arsenic was intersected.


Target 3

AC drilling on Target 3 tested an interpreted ultramafic sequence, parallel to a north-northeast trending structure.

Best results include six metres at 147ppb gold from six metres, six metres at 80ppb gold from 30 metres, and six metres at 54ppb gold from 24 metres.


Pathfinder anomalies were also recorded, with three holes intersecting more than 50ppm arsenic and results peaking at 862ppm arsenic.


"The results received from Target 2 are extremely positive and continue to build upon our early success at Target 1 and our overall knowledge of the project," Managing Director Michael Moore said.


"Yule is continuing to reveal its gold potential with every drill line and clearly demonstrating it has the right ingredients for exploration success," he added.


Golden State is now waiting on results from Target 4 which are expected in mid-September.


Further, the company is planning to undertake a phase two drilling program, consisting of 10,000 metres and slated to begin later this month.


Golden State is down 9.68 per cent in early morning trade and shares are trading for 28 cents each at 10:25 am AEST.


Read the full article on The Market Herald here: https://themarketherald.com.au/golden-state-mining-asxgsm-uncovers-strong-gold-and-arsenic-anomalies-at-yule-south-2020-09-07/

GSM APPOINTS CONTRACTOR AT YULE SOUTH

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23rd June 2020 - The Market Herald


  • Golden State Mining (GSM) has appointed Bostech Drilling Australia as the drill contractor for its upcoming 10,000-metre drilling program at Yule South in WA
  • Bostech has been appointed due to its significant drilling experience in the Yule region — having recently been involved in De Grey Mining's (DEG) nearby Hemi discovery
  • The aircore drilling program will test five priority gold targets
  • All preparations have been finalised and drilling is expected to kick off on July 2
  • Company shares have dropped a slight 3.33 per cent and are currently trading for 43.5 cents each

Golden State Mining (GSM) has appointed Bostech Drilling Australia as the drill contractor for its maiden 10,000-metre air core drilling program at Yule South.


Bostech reportedly has significant drilling experience in the Yule region. It was recently involved in De Grey Mining's (DEG) Hemi discovery, which lies just 13 kilometres southwest of Yule South.


The Yule South tenements make up two of four exploration licences within the company's wholly-owned Yule Project.

The Yule Project is located southwest of Port Hedland in the northern Pilbara region of Western Australia.


"We're delighted to have secured the services of Bostech who are not only highly regarded in the exploration sector but have crucial experience in drilling similar rock types and cover at the Hemi prospect," Golden State Managing Director Michael Moore said.


The drill targets

The upcoming aircore drilling program will test five priority gold targets. 

Target one consists of a tightly-folded hinge zone of expected ultramafic and mafic units. These exist within the Mallina formation of metasediments and magnetic anomalies, and are parallel to a major northeast-southwest structure.


Meanwhile, target two is a structure corridor, spanning over 10 kilometres. It's interpreted to contain altered metasediments and greenstone enclaves within folded dilational structures.


Similar to the other targets, the company believes target three is a tightly folded greenstone and ultramafic sequence or intrusive along a granite contact zone.


Golden State interprets target four as potential greenstone sequences within Mallina Basin sediments, which are near a fault splay northeast of the Yule River Shear Zone.


Finally, target five is located along the highly magnetic northern contact zone of an intrusive body within the Portree granite complex.

Preparations for the program have been finalised and drilling is scheduled to begin on July 2. 


Despite the announcement, company shares have dropped a slight 3.33 per cent and are trading for 43.5 cents each just before midday.


23rd June 2020 - The Market Herald

GSM OUTLINES 2021 DRILLING WORK

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  • Golden State Mining (GSM) has provided an update on what's in the pipeline for its Yule Project in Western Australia
  • Next month, a 2500-metre drilling program is expected to begin which will follow up on anomalous gold discovered last year
  • Then, 1500 metres of drilling will be undertaken in May and will focus on four lithium-cesium-tantalum pegmatite targets
  • Lastly, phase three aircore drilling will begin in July and will target a newly granted tenement and licence application at Yule East


Golden State Mining (GSM) has provided an update on what's in the pipeline for its Yule Project in Western Australia.


The wholly-owned project is located within the Mallina Basin and lies just 15 kilometres northwest of De Grey Mining's (DEG) Hemi gold discovery.


Next month, GSM will begin a 2500-metre reverse circulation (RC) and diamond drilling program. Drilling will focus on gold targets that were discovered during programs undertaken last year. 


In particular, drilling will follow-up on anomalous gold intersections including four metres at 2.3g/t gold including one metre at 7.6g/t gold from 99 metres and 18 metres at 0.17g/t gold from 104 metres.


Additionally, a 1500-metre RC program will drill four lithium-cesium-tantalum (LCT) pegmatite targets that have been generated from an analysis of aircore drilling conducted last year. This program is expected to start in May.


In July, a phase three aircore drilling program will begin at the newly granted tenement E47/4343 and the E45/5570 licence application at Yule East. Golden State Mining will also include areas at Yule South and Yule North based on encouraging results from previous drilling.


"The company continues to build on the solid foundations laid over two successful aircore programs totalling just over 28,000 metres in 2020," Managing Director Michael Moore said.


"2021 will see significant exploration activity as we target gold and lithium through multiple RC and aircore drilling programs," Michael concluded.


See Full Article here. 

YULE FUNDING

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Successful EIS Co-funding Application for Yule South 

ASX Announcement 26 May 2020 


HIGHLIGHTS 

  • GSM awarded $150,000 grant to fund upgraded Yule South Aircore drilling program


Golden State Mining Limited (“Golden State”, “GSM” or the “Company”) (ASX: GSM) is pleased to announce the successful outcome of its application for co-funding as part of the Western Australian Government’s Exploration Incentive Scheme (EIS). GSM has been awarded a $150,000 grant to partly fund its expanded 10,000m+ Aircore (‘AC’) drill program at the Yule South Project in the Mallina Basin.


It is worth noting that a significant proportion of the assessed value of any EIS proposal considers whether it addresses significant knowledge gaps and/or critical uncertainties in under explored areas. This includes testing an innovative, soundly based mineral deposit model. The remainder considers the technical merit of the proposed program.”


Figure 1: Yule South plan showing approved drill lines and detailed magnetics of target areas over regional geology. 


Golden State’s Managing Director, Mike Moore commented: “Golden State is grateful for the support of the Western Australian Government’s Exploration Incentive Scheme (EIS) in recognising the potential of the five priority targets areas at Yule South. The funding represents a vote of confidence and confirms our commitment to the expanded program”.


Click here to view the full announcement

YULE EXPLORATION UPDATES

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YULE EXPLORATION UPDATE 

ASX Release 23rd April 2020


Highlights

▪ Yule South Aircore drilling program to be expanded
▪ Upscaled drilling program expected to commence late Q2
▪ EIS co-funding application for Yule South Project submitted


Golden State Mining Limited (ASX code: “GSM” or the “Company”) is pleased to provide an update on the status of its planned drill program at its 100% owned Yule Project located 15 kilometres north west of De Grey Mining Limited’s (ASX code: “DEG” or “De Grey”) recent Hemi gold discovery. GSM is now planning to increase the scale and drill density of the initial planned program (refer to ASX announcement dated 12 February 2020). 


The revised scope of the program is designed to test an increased number of high priority targets and be a more robust drill test of all targets. Further details of the expanded drilling program will be announced upon finalisation. GSM has also submitted an application for co-funding from the Western Australian Government’s Exploration Incentive Scheme (EIS).


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Figure 1: Location of GSM’s 702km2 of Yule tenements and De Grey prospects (DEG ASX Announcements dated 17/3/2020, 9/4/20 and 14/04/2020 & CZR ASX announcement 6/2/20)


Yule Project 100% GSM

Yule South Expanded Aircore Program


The planned Aircore (‘AC’) program at Yule South is being modified and expanded with the aim of more effectively testing the priority gold targets at a greater drill density along approved drill lines.

De Grey’s Hemi Prospect was discovered using an initial 640m x 80m drill pattern (refer to DEG ASX announcement dated 6 Feb 2020). GSM recognizes this as a suitable drill pattern for testing similar geological features.


Key high priority targets (see Figure 2) include:


Target 1

This area consists of a tightly folded hinge zone of interpreted mafic units or an intrusive within the Mallina formation metasediments and magnetic anomalies parallel to a major north-south structure.

Target 2

A >10km structural corridor ‘squeezed’ between nested and deformed granitoid complexes is interpreted to contain altered metasediments and remnant greenstone enclaves within folded structures.

Target 3

The geology of this area is interpreted as a tightly folded greenstone/ultramafic sequence or intrusive along a granite contact zone which is parallel to a regional NNE trending regional Pilbara structure.

Target 4

The magnetic signature of this area is interpreted as potential greenstone sequences within Mallina Basin sediments which are proximal to a secondary fault splay trending NE off the Yule River Shear Zone (‘YRSZ’) to east.

Target 5

This target is located along the highly magnetic northern contact zone of a later intrusive body within the Portree granite complex which is interpreted as a distinct intrusive phase or alteration zone.


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Figure 2: Yule South plan showing approved drill lines and detailed magnetics of target areas over regional geology


Read The Full Announcement Here

VIDEOS

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Mike Moore Outlines Company's Drilling Plans Following The Recent Cap Raise



Targets Identified on Recently Granted Yule Tenement with Mike Moore, MD GSM, October 2020



Drilling Updates at Yule Project with Mike Moore, Managing Director GSM - September 2020





GSM uncovers strong gold and arsenic anomalies at Yule South - The Market Herald Live - September





Drilling Commences at Golden State Mining - Updates with MD, Mike Moore - July





Investor Update with GSM MD, Mike Moore - May 




Video Interview with Golden State Mining MD, Michael Moore - March




Video Interview with Golden State Mining MD, Michael Moore - February 





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