Golden State’s rig in a spin over exciting WA lithium and gold target

Pilbara lithium and gold are in Golden State Mining’s sights, as the company gets the rigs turning on the exciting Target 2A at its flagship Yule project.

Golden State (ASX:GSM) announced this morning that it had secured an RC rig and is currently drilling Target 2A, following up elevated-to-anomalous lithium-caesium-tantalum (LCT) pathfinders and gold aircore intercepts reported from AC drilling last year.

The RC program is expected to total 1500m across around 10 holes, testing the area’s shallow, sand covered, complex greenstone-granitoid structural setting.

The Yule project sits in the Mallina Basin, a short drive from De Grey Mining’s (ASX:DEG) Hemi gold discovery.

Golden State managing director Michael Moore said the company was excited to have secured a rig and get moving on what looms as a big second half of 2022.

“We are extremely pleased to announce the commencement of our Yule Project lithium and gold focused RC drilling campaign at Target 2,” he said.

“This ~1500m program has been designed to follow up on the anomalous lithium pathfinder elements already identified in previous drilling as well as a significant arsenic anomaly that has driven the selection of key gold target areas.

“The company is progressing exploration activity across a number of our self-generated projects, including recently granted tenure at our emerging Payne’s Find project, and investors can look forward to targeted field exploration over the second half of 2022.”

Plenty more to come

The pipeline is full in the second half of 2022 for Golden State, which recently wrapped up aircore drilling at its Four Mile Well gold project near Laverton.

In addition to the work at Target 2 the company expects to undertake heritage surveys at the Balla Yule nickel, cobalt, copper and lithium prospect this month as it works towards planned RC drilling.

A program of work submission has also been completed for the next phase of aircore drilling at Yule.

Meanwhile, the company has secured a series of exploration licences across the state in areas highly prospective for gold and battery metals.

This includes the Payne’s Find project, which was identified by GSM with the assistance of the esteemed Dr Marcus Sweetapple.

Here, around 22km of strike length has been identified along a potential VMS-style target corridor on an interpreted greenstone contact.

Moore has been outspoken on the importance of lithium exploration this year, and was quoted by a number of media outlets in May speaking on the company’s belief that EV-makers would one day have to find frontline lithium exploration in order to secure reliable lithium supply.

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.

The post Golden State’s rig in a spin over exciting WA lithium and gold target appeared first on Stockhead.

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