At the Yule Project, air-core drilling is currently in progress across several prospects that were identified beforehand. The plan is to drill approximately 8,000 meters, with a targeted completion date of late September.
Following the completion of drilling, assay results are anticipated to be reported starting around mid-November. Currently, a drilling program is underway at the Nomad lithium prospect utilizing air-core ("AC") technology. This program has a specific objective of testing predetermined targets that have been identified through recent and thorough gravity and magnetics surveys.
By employing AC technology, the program aims to gather valuable data for further evaluation of the lithium potential at the prospect.Nomad (Li) prospectIn this program, a vertical AC drilling method will be utilized, covering a distance of up to 4,000 meters. The primary goal is to explore and investigate hidden areas exhibiting an east-northeast oriented pattern with a relatively low density.
The mentioned targets are situated close to areas where abnormal cesium values were detected during the initial GSM RC drilling stage. For additional details, you can check out the ASX announcement from December 22, 2022. Moreover, the ASX announcement from May 24, 2023 highlights a recent land acquisition towards the south of GSM's previous AC and RC drilling site.Balla Yule (Ni-Co-Cu) prospect.
To explore the potential for Ni-Co-Cu sulphide mineralization, additional AC drilling will take place at the Balla Yule prospect. This drilling aims to target the synformal core of a layered mafic-ultramafic intrusive body, as mentioned in the ASX release dated 15 March 2022. The Yule project, specifically the Balla Yule (Ni-Co-Cu) prospect, along with the Nomad prospect, are of significant interest in the context of Pilbara's lithium and gold deposits.
These locations have been identified as potential areas for exploration and development in these valuable mineral resources.Yule East (Au) prospect.GSM, a prominent exploration company, has recently conducted a comprehensive assessment of air-core drilling results in the Eastern Yilgarn region of Western Australia.
This assessment was based on the findings mentioned in their ASX release dated 15 March 2022. The primary focus of this evaluation was to generate a target model specifically for Archaean gold deposits within the northern part of the Yule East tenement.By utilizing advanced techniques and analyzing the data obtained from air-core drilling,
GSM has been able to create a target model that provides valuable insights into potential gold deposits in the area. This target model serves as a guide for future exploration activities and enables GSM to optimize their efforts in identifying promising locations for further investigation. The Eastern Yilgarn region is known for its significant mineral potential, particularly in relation to gold deposits formed during the Archaean period. With this assessment and target model, GSM aims to leverage their expertise and resources effectively, increasing their chances of discovering economically viable gold deposits within this region.The generated target model will assist GSM's exploration teams by narrowing down specific areas that show high potential for hosting gold mineralization.
By focusing on these identified targets, GSM can streamline their exploration efforts, saving both time and resources while increasing the likelihood of discovering valuable gold deposits.Overall, GSM's assessment of air-core drilling results and subsequent generation of a target model demonstrates their commitment to efficient and effective exploration practices. By harnessing advanced technologies and geological knowledge, they are maximizing their chances of unlocking new discoveries within the Eastern Yilgarn region's Archaean gold prospective areas.
Quarry Well (Pb-Zn) prospectAdditional drilling activities will be conducted at the Quarry Well prospect within the Sholl Shear Zone. The purpose of this follow-up drilling is to analyze and evaluate the findings from previous drills. Specifically, it focuses on interpreted deformed lithologies that resemble siliceous chert, which have shown elevated portable X-ray fluorescent ("pXRF") readings for zinc and lead, reaching up to approximately 0.25%. The values of these base metals align with a historical VTEM anomaly, which further supports the VHMS exploration model.
This correlation suggests that there may be potential for valuable mineral deposits in the area.Nomad lithium Prospect Li-Cs-Rb + Yule (Li) is a significant presence within the Mallina Basin located in the Pilbara region. It has been recognized as an important component of the pathfinder footprint in this area.
There are several gold targets located in a favorable structural setting, approximately 13km away from the Hemi gold resource Yule. This resource is known to contain around 9.5 million ounces of gold and also has significant base metal content.
The area where these targets are found is known as Mallina Find, and it also has lithium deposits present.The exploration efforts in the Southern Cross East (Au) Gold area have revealed significant anomalies in lithium and pathfinder geochemistry.
This indicates the potential presence of valuable resources in the region. Additionally, promising pathfinder soil geochemistry anomalies have been identified at Target 1 East, including an interval of 4 meters with a grade of 2.3 grams per tonne gold, with a 1-meter section grading at an impressive 7.6 grams per tonne gold.
These findings provide encouraging prospects for further exploration and potential mining opportunities. The Yule East area has been analyzed using a Kanowna Belle structural setting analogy. This analogy suggests that the Yule East area is located approximately 2km away from the end of Hole Li-Cs-Rb bedrock anomaly, as identified through AC drilling. Follow-up RC drilling revealed a 6m section containing 421ppm of Cs at a depth of 103m. This finding adds to the Balla Yule Prospect's lithium anomalism.
IMO
GSM Price at posting:
3.6¢ Sentiment: Buy Disclosure: Held
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