During the June 2020 quarter, Golden State Mining (GSM) largely focused on its Yule South tenement within its wholly-owned Yule Project in WA
Following De Grey Mining's (DEG) Hemi discovery near the Yule South tenement, Golden State actively pursued a 10,000-metre aircore drilling program
This program was backed by a $150,000 government grant and a $2.2 million placement
The company applied for a 13 square kilometre exploration licence to grow the Yule South area to 715 square kilometres
Further, GSM partnered with Adaman Resources to buy, mine and process 48,000 tonnes of mine tailings from the historic Cue No 1 and Salisbury mines
Mining and processing of the sands will commence from late August
In terms of its cash position, GSM spent $274,000 on operating activities and ended the quarter with cash and cash equivalents totalling over $2.4 million
Company shares are a slight 1.43 per cent lower and are trading for 34.5 cents
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