Some decent buying here. No problem understanding why.
Acquisition of exploration rights adjacent to Nomad lithium prospect at the Yule project
Brings GSM’s ground position at Yule to ~766km2 within one of Australia’s premier mineral discovery provinces in the Mallina Basin
GSM holds exploration tenure in a region that hosts some of the world's significant hard-rock lithium mines and a recent tier 1 gold discovery, and includes companies such as Pilbara Minerals, Mineral Resources, De Grey Mining and Wildcat Resources, and significant infrastructure (see figure 1 below).
Only ~35km from the strategic export facility at Port Hedland
GSM's recent drilling at Nomad has already delineated a robust lithium, caesium, and rubidium bedrock anomaly with high levels of associated arsenic over ~2km of strike length -
the new ground increases prospective strike length with additional target areasAC/RC drilling planned to commence July 2023
Further lithium and gold drilling and exploration to continue throughout the balance of CY23
GSM well-funded with ~$3.5 million in cash and placement commitments*
IMO
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Ann: GSM Grows Lithium Ground in Pilbara, page-63
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