| Announcement Date: | 2022-10-12 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | NI43-101 |
| Company name: | Kaiser Reef Ltd. |
| Project name: | A1 Gold Mine |
| Location: | Canada |
| Commodities: | Gold |
| Highlight: | Drilling results incl. 13.5m at 6.6g/t Au from 99.2m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Kaiser Reef Limited (Kaiser) is pleased to report further encouraging gold results from drilling within the A1 mine, with a best result of 13.5m @ 6.6 g/t gold that includes a higher-grade interval of 3.5m at 16.5 g/t gold. In addition, the interpreted extension of the recently discovered Neesham Reef (discovery hole returned 2.4m @ 215 g/t gold -ASX: 21 July 2022) was encountered earlier than expected in the development and the first mining has commenced with visible gold noted in the mining face (Figure 1). A1UDH-497 was drilled to a length of 186.3m. The main dyke bulge intersected in this hole showed promising sericite / hydrothermal alteration in close association with stylolitic quartz vein breccias. Up to 3 dyke apophyses were intersected and terminated in highly fractured sediments, possibly at the Eastern Shear. Figures 2 and 3 below illustrates the prospectivity of the centrally located dyke bulge. This zone is substantially north of historic workings, north of the Queens Lode and confirms the presence of northern reefs strike continuity. The central dyke bulge has up to 10% disseminated sulphides (mostly pyrite) |
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