Proactive Investors - Run By Investors For Investors

Golden State Mining study confirms sulphide potential of prospect at Yule North

Follow-up geochemical sampling and a ground-based geophysical survey are planned for the third quarter of this year.
Project overview
Yule project is between 35 and 65 kilometres southwest of Port Hedland in the Pilbara region

Golden State Mining Limited (ASX:GSM) has identified remobilised nickel and nickel-cobalt minerals in addition to copper sulphides through petrographic analysis of historical reverse circulation samples of Balla Yule prospect within the Yule North project in WA.

These findings represent an opportunity to target magmatic layered nickel-cobalt-copper style mineralisation within an elliptical dome feature north of the highly prospective Sholl Shear Zone.

The petrographic study also identified a pegmatite, confirming the lithium target potential of the Balla Yule prospect.

Balla Yule and the Brumby drill hole collar locations over total magnetic intensity

Golden State’s managing director Michael Moore said: “The detailed petrographic work has delivered some encouraging indicators of a very attractive mineralisation style.

“It also presents an early targeting opportunity at the Yule North project.

“With further geophysical refinements and surface geochemistry these findings will form the basis of a follow-up drill program in quarter-three or quarter-four this year.”

READ: Golden State Mining receives high-grade gold assays from Cue Project in WA

The most significant interval was 14 metres at 0.51% nickel and 0.033% cobalt from 38 metres, including 4 metres at 0.70% nickel and 0.048% cobalt in what the company interpreted as a weathered and clay-rich serpentinite.

Golden State interprets this intersection to be evidence of secondary nickel enrichment above the layered mafic-ultramafic intrusion.

A notable intersection in another hole was seven single metre samples containing elevated lithium values between 160 metres and 194 metres.

More than 200ppm lithium oxide

These samples contained lithium oxide values of more than 200ppm with the highest value of 715ppm.

The company interprets these elevated lithium values as a vector to a potential larger lithium-bearing pegmatite body at depth.

Follow-up drilling locations will be based on refining geophysical interpretations of surveys completed by previous explorers and this is expected to begin during quarter-three or quarter-four this year, subject to approvals. 

View full GSM profile View Profile

Golden State Mining Ltd Timeline

Related Articles

The central processing plant for Lance Uranium Projects
March 26 2019
The Australian USA-uranium producer is targeting lower cost extraction methods at its project.
Workers inspect core at Gubong
March 04 2019
The company gained another substantial holder last week to end the trading week up 6.25% on the Australian market.
Results from Zermatt, Cortina and ML 13 will be analysed to plan a new drill campaign
April 26 2019
It has assets in WA’s Yamarna-Mt Venn region near future Gold Fields' mine Gruyere.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use