Other WA Projects

GSM’s portfolio of ‘greenfields’ pipeline projects include various tenement application packages in regional Western Australia with a multi-commodity focus reflecting increasing demand in the evolving commodity market.

Payne’s Find (E59/2660, E59/2661, E59/2662, E59/2679 & E59/2680) – Lithium

GSM has five exploration licence applications for a total of 1257km2 immediately east and 30kms north of Payne’s Find in the Murchison region of Western Australia.  The Payne’s Find Project (‘PFP’) consists of 3 main project areas, Payne’s Find North, Payne’s Find Central and Payne’s Find South.

Previous explorers and Mines Department WAMEX searches have revealed a range of commodities. Explorers focussed mainly on greenstone belts adjacent to the GSM project areas. Historic exploration focussed mainly on gold, base metals and iron ore.

Only minor, unsystematic previous exploration work has been completed on the Payne’s Find project areas, mainly limited to geophysical interpretation and regional geochemistry sampling.

Golden State’s recent aeromagnetic and remote sensing research, modelling and targeting has revealed the Payne’s Find region contains known lithium-bearing pegmatites (e.g. Mount Edon & Mullagee Well) with a geological setting of multiple granitic intrusive episodes, many of which appear to be “late-stage” intrusions, a favourable targeting factor for lithium mineralisation.

GSM is planning to prioritise potential lithium target areas with the aid of geophysical interpretation with follow-up field checking and surface geochemistry where applicable to generate robust drill targets.

Eucla Basin (E28/3175 & E28/3176) – Copper- Au & Nickel

GSM has secured two exploration licence applications for a total of 974km2 approximately 100kms north-east of Balladonia and 300 km east of Kalgoorlie. The tenements host Mesozoic sediments and Tertiary limestones of the Eucla Basin which unconformably overlie deformed and poorly understood Proterozoic-age metamorphic basement rocks of the eastern Albany-Fraser Province (similar age rocks to Nova-Bollinger nickel-copper deposit and Tropicana gold deposit).

Buried magnetic and gravity anomalies and structures (up to 10 km long) have been previously identified (Teck Australia) and may represent a structurally deformed layered mafic-ultramafic intrusive at depth. The cover sequence is estimated by previous explorers to be 250-300 m depth.  These anomalies represent intriguing base and precious metal targets and are yet to be drill tested.

Exploration work is underway and includes historic exploration compilation and assessment, geophysical modelling and interpretation, field reconnaissance and drill targeting.

Southern Cross East (E77/2896, E77/2897 & E77/2898) – Gold

GSM holds three exploration licence applications for a total of 620km2 approximately 60kms north-east of Southern Cross and 36kms east of Koolyanobbing in the central Yilgarn region of Western Australia.

The structural setting and colluvium covered Archaean rocks are considered favourable for orogenic gold prospectivity in a long-lived gold mining region.  Main gold production in the district includes Mt Dimer (125,000 oz at 6.4 g/t Au1), located 20 kms to the north of the Southern Cross East project.  The majority of open pit mining operations was developed on multiple high-grade quartz bearing ore shoots primarily hosted by granite.  Aurumin (ASX:AUN) recently reported very high grade gold results1 including 4m @ 48.69 g/t Au from 104m at Mount Dimer. Other historic gold mining centres including Ryan’s Find and Dry’s Find, which are located to the east of the project area.  Previous explorers (including WMC Ltd) have also reported encouraging nickel values at Ryan’s Find2.

The concealed nature of GSM’s holding and perceived historic low gold prospectivity in interpreted granite basement have resulted in negligible exploration completed on the project.  GSM will target vein and/or shear-hosted gold mineralisation related hosted by granite and granite-greenstone remnant contacts via geophysical modelling with selective and focussed ground-based geophysical surveys where applicable.

1 Aurumin Limited Announcement, dated 17th December, 2021

2 Aurum Resources Limited Prospectus, dated 29th October, 2021

Yamarna (E38/3671 & E38/3670) – Gold-Nickel & PGE

GSM has two exploration licence applications for a total of 661km2 approximately 96kms north-northeast of Laverton. The location is situated on the same crustal suture as the Mt Alexander nickel sulphide discoveries and contains similar host rock potential.

A previous explorer’s compilation is currently underway to assess the merits of previous exploration on, and in the vicinity of, the Yamarna project tenure.

Ashburton (E08/3456 & E08/3469) – Lead-Silver & Gold

GSM has two exploration licence applications for a total of 302km2 approximately 12kms southwest of the Kooline airstrip, 135kms west of Paraburdoo. The tenements are considered prospective for VHMS style mineralisation in sediments proximal to basin bounding faults.

GSM plans to evaluate previous explorers’ exploration work affecting the project area and conduct preliminary reconnaissance and surface sampling programs.

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