Announcement Date: 2022-03-01
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Kaiser Reef Ltd.
Project name: Maldon
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 2.2m @ 10.3g/t Au
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Kaiser Reef Limited (ASX:KAU) (“Kaiser” or the “Company”) is pleased to announce the first results from drilling at the Nuggety Reef historic gold mine, located at the northern end of the Union Hill gold mine in Maldon, Victoria. The Nuggety Reef mine was one of, if not the, highest grade significant Australian gold mines with recorded production of 301,000 ounces at 187 g/t recovered gold. The Nuggetty Reef was discovered in 1856 and produced 301,000 ounces of gold from 50,000 tonnes of ore averaging 187 g/t Au over a 10-year period. The reef was mined over a strike length of 350 metres with four shafts, sunk to a maximum depth of 238m. The Nuggety Reef is contained within the broader Nuggetty shear zone and is the most northern reef and mine in the Maldon Goldfield (Figure 1). The deposit is truncated by the Harcourt Granodiorite to the north and at depth, forming a south plunging footwall. The Nuggetty Reef is situated within steep eastern
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