Kaiser Reef reports ‘exceptionally’ high-grade gold strikes in first drill at A1 Mine
The first drill hole from the ongoing A1 Mine returned an exceptionally high-grade intersection of 4.6m at 135.7 g/t gold from 36m.
Kaiser Reef (ASX:KAU) says this is an encouraging outcome as the hole was targeting near term mining targets to the South of Queens where very little previous drilling has been conducted.
Other highlights include 0.4m at 16.8 g/t gold from 4.1m, 4.6m at 135 g/t gold from 36m, and 1.8m at 3.7 g/t gold from 61.1m.
The final drilling results from the first exploration campaign at Maldon returned a high-grade interval of 0.6m at 52.8 g/t gold.
Overall, KAU believes the results are encouraging and very useful in defining the mineralised trends within Maldon.
Plans are in motion for the information to assist the next round of drilling as well as for the inclusion in the ongoing resource estimation.
Significant hits include 0.7m at 37.6 g/t gold, 6.5m at 6.2 g/t gold, 0.7m at 20.6 g/t gold and 0.5m at 12.8 g/t gold.
The Maldon goldfield is in Victoria’s Bendigo Zone which has undergone the same broad structural deformation and mineralisation events as regional Bendigo.
Large deposits within the Bendigo area currently being exploited include the Fosterville Mine.
One of the Maldon’s key advantages is the extensive existing infrastructure and proximity to Kaiser’s operating gold processing plant (3 km away) that is held under a granted mining licence.
If exploration proves successful, rapid, and low-cost development could be implemented utilising Kaiser’s mining fleet and experienced mining team for minimal capital cost.
Drilling is intended to continue for a prolonged period, with an initial program including over 30 drill holes from underground.
This may be extended based on results, which will be released in batches once assay results are received.
This article was developed in collaboration with Kaiser Reef, 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.