Adds To Pilbara Gold Excitement
Golden State Mining Limited (ASX: GSM) has reported highly encouraging assay results for the first two target areas drilled at the Yule South project in Western Australia’s north-west.
Managing Director, Michael Moore, said the Phase 1 Yule South Aircore drilling over five gold target areas has been completed with a total of 199 holes drilled for a total advance of 13,275m.
“We are pleased with the calibre of these first pass gold results, having drilled gold intersections in just our first two targets of an essentially untested regional project area in an emerging gold district,” Mr Moore said.
“To drill a gold intersection of 8m @ 0.92g/t Au from 96m including 4m @ 1.81 g/t Au from 96m in only the second drillhole of the 199 hole programme speaks volumes about our targeting and strategy up at Yule.
“The drill results returned from wide-spaced reconnaissance Aircore drilling based solely on aeromagnetic interpretation in the first two areas drilled, validates the sound geological greenfield targeting and strong prospectivity of our extensive West Pilbara ground holding.
“We look forward to receiving further assay results for Targets 2, 3 and 4 from the programme over the course of the next month and recommencing Phase 2 drilling in September.”
Assay results revealed multiple anomalous gold intersections with a best intercept of 8 metres @ 0.92g/t Au from 96 metres including 4 metres @ 1.81 g/t Au from 96m, which was recorded in a weathered, fine-grained schistose saprolitic metasedimentary sequence.
Drillhole 20GSYSAC0013 located on a section 320m to the south intersected 20 metres @ 0.15g/t Au from 102 metres including 8 metres @ 0.30 g/t Au from 114m in a similar regolith setting.
Assay results also revealed multiple elevated and anomalous gold intersections of >10 ppb gold with a best intersection comprising a broad, anomalous zone of 19m @ 91ppb Au from 46m including 4m at 350ppb Au from 58m (20GSYSAC0062). This intersection was recorded in a weathered mafic-ultramafic horizon with <2% fine grained, disseminated and smeared foliation pyrite.
Based on initial results and geological observations, two new target corridors have been interpreted and will be the subject of future drill planning in the coming months. A five kilometre structural corridor has been interpreted from the aeromagnetic data based on the drill results from Target 1. In addition, a broad target area to the east of Target 5 is interpreted as a continuation of the prospective mafic- ultramafic package logged in this area. Both areas will be the subject of future drill planning in the coming months.
