Some intriguing reading given the recent ridiculous sell off...

Some intriguing reading given the recent ridiculous sell off last week in a nervous market, that GSM simply stated 'results due October'...amateur investors chasing a quick buck.

This is what the the impatient sold/threw away in a region just calling out for further drilling given recent peer success.

In a nut shell two lots of company making drilling in a highly favoured region of WA with results by October end..the second just a month further out in November....

Testing four big gold, lithium and base metal targets

GSM recently wrapped up RC drilling at the project’s Nomad lithium and Balla Yule nickel-cobalt-lithium prospects, which will also be included in this new air-core program.

At the Nomad lithium prospect, 4,000m will be testing concealed targets near anomalous caesium values returned in first pass RC drilling and on recently acquired ground to the south.

Other targets for the AC drilling program include the Yule East gold prospect, where the company has several high-priority gold and lithium targets around the Yule River shear zone, the Balla Yule nickel-copper-cobalt target and the Quarry Well lead-zinc prospect.

“Following on from our recently completed RC drilling campaign at Nomad and Balla Yule, it is pleasing to report that air-core drilling is well under way at Yule,” Golden State Mining (ASX:GSM) MD Mike Moore said.

“The first priority area is centred on the Nomad lithium prospect and will include ground to the southeast on E47/2692 where no previous exploration drilling has been conducted.

“This comprehensive air-core drilling program follows a recently completed RC program and ensures we maintain exploration momentum in this highly prospective region.”

Potential for a ‘significant’ discovery at Nomad

GSM picked up exploration rights adjacent to the Nomad tenement in May, which brought its total ground position at Yule to ~766km² within one of Australia’s premier mineral discovery provinces in the Mallina Basin.

Drilling to date has already delineated a robust lithium, caesium, and rubidium bedrock anomaly with high levels of associated arsenic over an approximate 2km of strike length and a potential pegmatite system (pegmatites being the host rock for lithium mineralisation).

The project is also just 13km from De Grey’s Hemi gold discovery.

The company says the opportunity to explore for lithium and gold over the new area increases the potential for a significant discovery.

Exploration ongoing at lithium and gold projects

The air-core drilling is expected to be completed around late September, with assays expected in November. The RC assays from Nomad and Balla Yule are due out early October.

At the company’s Paynes Find lithium project, extensive lithium and pathfinder geochemistry anomalies have been generated, with air-core drill target planning underway.

And recent Phase 2 soil sampling results at the Southern Cross East gold project have identified a whopping 41 areas of interest where anomalous gold and pathfinder elements have been recorded.

The next step is for these areas to be ranked in order of priority and field-checked prior to defining air-core drill targets ahead of drilling in early 2024.