- Golden State Mining (GSM) secures new tenements in Western Australia and gears up for exploration
- The company has been granted three exploration licences 60 kilometres north-east of Southern Cross that collectively span 620 square kilometres
- East of Southern Cross, GSM was also granted exploration licence E38/3671, 95 kilometres north-northeast of Laverton
- At the same time, GSM is preparing to drill at its recently granted tenement north of its existing tenure at the Four Mile Well project
- GSM shares last traded at 4.7 cents at 10:04am AEDT
Golden State Mining (GSM) has secured new tenements in Western Australia and is gearing up for exploration.
The company has been granted three exploration licences 60 kilometres north-east of Southern Cross that collectively span 620 square kilometres.
The area includes interpreted buried Archaean rocks within a “favourable orogenic gold structural setting.”
Golden State said the project area has had “negligible” on-ground exploration. The company’s first round of work will include regional soil sampling and field reconnaissance programs.
East of Southern Cross, GSM was also granted exploration licence E38/3671, 95 kilometres north-northeast of Laverton.
This tenement shares ground on the same crustal feature as St George Mining’s (SGQ) Mt Alexander nickel sulphide deposit and is considered an analogous geological setting for magmatic nickel copper sulphide potential.
At the same time, the company is gearing up for the first round of drilling at its Four Mile Well project in February, after receiving the necessary approvals from the Department of Mining, Industry Regulation and Safety.
The drilling program was designed to follow up elevated gold values from previous soil sampling across a newly granted tenement north of the company’s existing tenure.
GSM shares last traded at 4.7 cents at 10:04am AEDT.