Announcement Date: 2021-11-15
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Kaiser Reef Ltd.
Project name: Maldon
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 1.77m @ 29.6g/t Au from 59.73m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Kaiser Reef Limited (ASX:KAU) (“Kaiser”, or the “Company”) is extremely pleased to announce the first exploration results for the high-grade Maldon historic gold mine located between Bendigo and Ballarat. The Maldon Goldfield is 100% owned by Kaiser and is comprised of several historic underground mines. After some minor refurbishment work a modern established decline under the goldfield is being used by Kaiser to support this drilling activity. The results were returned from underground diamond drilling at the high-grade Maldon gold mine with a powerful LM90 Boart Longyear diamond drilling rig (Figure 1). The drilling rig is operating well from underground at the Union Hill decline. The results returned some excellent high-grade intervals (Figure 2) which are characteristic of previously mined areas at Maldon. In the context of the “contained metal” we are pleased to report that 5 of the 11 drillholes returned an exceptionally high average “gram x metre” interval of 20.5 g/t gold. Most of the drill holes intercepted the Eaglehawk target reef at its projected location. The drilling results are included in Table 1.
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