Kaiser Reef has added three new licences. Pic: Getty Images
Kaiser Reef adds more ground in copper-gold rich Molong Belt
Mining
share
Kaiser Reef has been awarded three highly prospective exploration licences in New South Wales’ actively explored Molong Volcanic Belt.
Significantly, the licences sit between Newcrest Mining’s major Cadia copper-gold mining operation and Alkane Resources’ Boda copper-gold discovery, which is shaping up to be a substantial porphyry deposit.
These deposits make this section of the Molong one of the most richly endowed global porphyry belts and accounts for the active exploration for more discoveries by major international miners.
Kaiser Reef (ASX:KAU) has already identified two high-priority targets on the new licences that will supplement the ongoing Stuart Town exploration program in the region.
New licences
The Two Mile, Oaky Dome and Bakers Creek licences increase the company’s strategic land holding in this district from 78sqkm to 196sqkm.
The Two Mile licence is located on the southern margin of Sultan Resources’ Big Hill porphyry project that is currently the subject of active exploration and drilling.
Historical copper and gold mineralisation identified in soil sampling to north of Big Hill represents an early exploration target on trend into Two Mile.
Oaky Dome abuts the company’s Stuart Town licence with a high-resolution magnetic survey showing an interpreted area on the southwestern margin that may represent an intrusive host associated with historical gold workings.
The workings are surrounded down slope by a series of historical alluvial gold operations.
Bakers Creek is 1.3km north of Newmont’s Bakers Swamp copper-gold porphyry target and covers a region of prospective mapped monzonitic intrusive rocks.
Initial work at the new licences will consist of historical data review, mapping, local sampling and data compilation.
This article was developed in collaboration with Kaiser, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
