Kaiser Reef struck a royal vein of broad, high-grade gold at Queens Lode
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Kaiser Reef has every reason to be encouraged after drilling intersected broad and high-grade gold results at the Queens Lode within its A1 Mine in Victoria.
Latest results from its ongoing Phase 2 drill program include 19.1m grading 11.9 grams per tonne (g/t) gold from a depth of 48.6m within a broader 40m at 6.6g/t gold from 48.6m that includes a 7m zone at 20.8g/t gold from 60m within the same hole A1UDH-424.
Notably, this hole has successfully defined mineralisation below any modern mining while achieving its objective of testing the width of the Queens Lode as opposed to drilling on top of the lode.
Kaiser Reef (ASX:KAU) noted that the highest grade intersections coincided with intense hydrothermal bleaching with carbonate-sericite alteration, pronounced medium to coarse grained disseminated pyrite and dilational breccia related vein arrays.
Minor visible gold was also observed within some of these micro-vein arrays, a characteristic of the Queens Lode where mineralisation is related to both disseminated auriferous pyrite and extremely high-grade intersections that are influenced by visible gold in micro-veins.
The company is now about three-quarters of the way through its planned 4,000m initial drill program, which will represent more drilling at A1 in a four-month period than the three years prior and is important for the planning and development of an expanded mine program.
Additionally, the development drive is now well-advanced towards accessing the Queens Lode.
Queens Lode is a priority for 2021 mechanised mining as a supply to the high-grade narrow vein airleg mining that currently supports its A1 operations.
The lode represents the most advanced bulk tonnage exploration target with well-defined resource potential in the near-term mineable material at A1.
Kaiser has appointed an exploration team with a new focus on starting exploration at the Maldon Goldfield, one of the most significant historical hard-rock gold fields in Victoria.
However, the field has seen little modern exploration despite recording historical production of 1.74 million ounces of gold at an average grade of 28g/t.
Any exploration success will benefit from the company’s wholly owned and currently operating gold processing plant, substantial existing infrastructure including power, established decline, water and granted Mining Tenure at Maldon.
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.