{"id":1789,"date":"2023-11-19T23:51:57","date_gmt":"2023-11-19T23:51:57","guid":{"rendered":"https:\/\/economicherald.net\/?p=1789"},"modified":"2023-11-19T23:51:57","modified_gmt":"2023-11-19T23:51:57","slug":"golden-state-mining-returns-up-to-0-9-lithium-from-rock-chip-sampling-at-paynes-find","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=1789","title":{"rendered":"Golden State Mining returns up to 0.9% lithium from rock chip sampling at Paynes Find"},"content":{"rendered":"<p>Positive start to \u2018preliminary\u2019 exploration campaign for new lithium opportunity identified at Paynes Find North<br \/>\nStrong rubidium anomalism also identified at Paynes Find Central project area<br \/>\nGSM funded for next year\u2019s proposed maiden lithium-oriented drilling program thanks to recent $1.5 million capital raising<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report<\/em>: Golden State Mining has made a successful start to formal exploration over its \u201cself-generated\u201d Paynes Find lithium project.<\/strong><\/p>\n<p>Traditionally a hotspot for gold explorers, Paynes Find has emerged as a potential new lithium province after Golden State Mining (ASX:GSM) identified a series of outcropping pegmatites on its +1,300km2 ground package.<\/p>\n<p>Assay results have been received for 18 rock chip samples collected from a range of pegmatite outcrops at the Paynes Find North and Paynes Find Central project areas in Western Australia\u2019s Murchison region.<\/p>\n<p>Samples were collected from a recent reconnaissance mapping exercise which highlighted anomalous lithium, rubidium, caesium and other lithium pathfinder elements in soils.<\/p>\n<p>GSM described the sampling as \u201cpreliminary\u201d with more comprehensive work to follow in the coming weeks.<\/p>\n<p>\u00a0<\/p>\n<p>Paynes Find North rock chip locations and results. Pic via GSM<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Lithium to the north, but mostly rubidium in the centre<\/strong><\/h2>\n<p>At Paynes Find North, assay results for rock chip samples returned \u201csignificant\u201d lithium, rubidium and caesium values, along with elevated tantalum and niobium.<\/p>\n<p>The best result was an assay approaching ore grade of 4,170ppm lithium (0.9% Li2O), 2,650ppm rubidium (0.29% Rb2O) and 178ppm caesium. This sample was collected from a weathered pegmatite sub-crop approximately 3m wide.<\/p>\n<p>Another sample collected about 20m away recorded 486ppm lithium (0.1% Li2O), 1,420ppm rubidium (0.16% Rb2O) and 112ppm caesium.<\/p>\n<p>At Paynes Find Central, anomalous and elevated rubidium was recorded in the majority of samples, with the most significant result being 1,060ppm (0.12% Rb2O).<\/p>\n<p>\u00a0<\/p>\n<p>Paynes Find North rock chip sample PFNR016 images on sub-crop. Pic via GSM<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Building a \u2018robust\u2019 target footprint for drilling<\/strong><\/h2>\n<p>Target generation for a maiden lithium-focused drilling campaign at the Paynes Find project is well advanced, according to the company, with detailed field mapping and a more extensive rock chip sampling program to start next month.<\/p>\n<p>Last week, GSM raised $1.5 million via an oversubscribed placement to fund its upcoming exploration ambition at Paynes Find, including a proposed AC\/RC drilling program of up to 8,000m, beginning in Q1 2024.<\/p>\n<p>GSM managing director Michael Moore was delighted with the promising start to lithium exploration at Paynes Find, about 30km north of the township which shares the project\u2019s name.<\/p>\n<p>\u201cDespite the very limited fieldwork coverage thus far, GSM has already validated its original targeting criteria at the Paynes Find lithium project \u2013 a self-generated asset in the greater Murchison region of Western Australia,\u201d Moore said.<\/p>\n<p>\u201cThese encouraging results come from a recent field trip which identified outcropping pegmatites and further enhanced the prospectivity of the project. This date provides the basis for a robust drilling campaign in 2024.<\/p>\n<p>\u201cGSM looks forward to carrying out further fieldwork during this quarter, assisting drill-hole placement, target vectoring and updating shareholders as work progresses.\u201d<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span><em>\u00a0<\/em><\/p>\n<p><em>This article was developed in collaboration with Golden State Mining, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n<p>\u00a0<\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/golden-state-mining-returns-up-to-0-9-lithium-from-rock-chip-sampling-at-paynes-find\/\">Golden State Mining returns up to 0.9% lithium from rock chip sampling at Paynes Find<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Positive start to \u2018preliminary\u2019 exploration campaign for new lithium opportunity identified at Paynes Find North Strong rubidium anomalism also identified at Paynes Find Central project <a href=\"https:\/\/economicherald.net\/?p=1789\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":1790,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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