Kaiser Reef Ltd (ASX:KAU) has intersected high-grade gold in the first drill hole from the current A1 Mine diamond drilling programme and the final assays from the completed first campaign of diamond drilling at the Maldon Goldfield in Victoria, Australia.
A1 Mine Drilling Results
The first drill hole from the ongoing A1 Mine returned an exceptionally high-grade interval of 4.6m @ 135.7 g/t gold from 36m.
· A1UDH-472: 0.4m @ 16.8 g/t gold from 4.1m; and 4.6m @ 135 g/t gold from 36m; and 1.8m @ 3.7 g/t gold from 61.1m; and 0.9m @ 4.7 g/t gold from 83.6m
- This hole was targeting near term mining targets to the South of Queens where very little previous drilling has been conducted and is an encouraging outcome.
- The drilling programme is ongoing.
Maldon Drilling Results
The final drilling results from the first exploration campaign at Maldon returned a high-grade interval of 0.6m @ 52.8 g/t gold. Overall, the results were encouraging and very useful in defining the mineralised trends within Maldon.
The information will be used in the planning for the next round of drilling and included in the ongoing resource estimation.
Significant results from this Maldon in this campaign include: o UH-UDH-029: 0.7m at 37.6 g/t gold o UH-UDH-027: 6.5m @ 6.2 g/t gold o UH-UDH-013: 0.7m @ 20.6 g/t gold o UH-UDH-022: 0.5m @ 12.8 g/t gold o UH-UDH-29: 0.7m @ 37.6 g/t gold o UH-UDH-33: 0.5m @ 7.1 g/t gold o UH-UDH-35: 0.6m @ 6.0 g/t gold o UH-UDH-37: 0.7m @ 9.9 g/t gold o UH-UDH-43: 0.6m @ 52.9 g/t gold o UH-UDH-46: 0.9m @ 10.2 g/t gold; o UD-UDH-48: 1m @ 9.5 g/t gold
Kaiser’s final exploration results for the high-grade Maldon historic gold mine located between Bendigo and Ballarat are reported here.
The Maldon Goldfield is 100% owned by Kaiser and is comprised of several historic high grade underground mines. Drilling is being conducted from the modern established decline below the goldfield.
Resource modelling for Maldon has commenced and the hope is for Kaiser to eventually justify the development of a second mining centre at Maldon to supplement the A1 Mine at Woods Point. The results returned from underground diamond drilling at the high-grade Maldon gold mine reveal further intervals of gold mineralisation which are characteristic of previously mined areas at Maldon.
Most of the drill holes have intercepted the Eaglehawk target reef at its projected location. The drilling results are included in Table 1. These results are encouraging for exploration at the Company’s first drilling campaign at Maldon.
Maldon is one of the premier Victorian historic goldfields and has enjoyed surprisingly limited modern exploration. The significant amount of gold historically exploited (1.74Moz @ 28 g/t gold), mostly within 300 metres of the surface, offers further opportunity at depth, which is supported by limited, yet encouraging previous exploration.
The drilling in this campaign targeted positions near the Alliance South Shoot deposit. The Alliance South Shoot is defined by the north-south striking Eaglehawk Reef, at the southern termination of the Central Maldon Shear zone
. The Alliance South Shoot deposit comprises a fault bound shallow dipping western and steep dipping eastern reef which make up the overall Eaglehawk Reef structure which was mined extensively further north from the Alliance group of shafts.
The Alliance South Shoot lode is located on a nexus of the structural zone where the Eaglehawk Reef passes from the east limb of the German Anticline into the hinge zone of the German Syncline. The up-dip projection of the Eaglehawk Reef was stoped to the south on the 1080 and 1060 Levels.
The planned drilling is targeting down-dip mineralisation in addition to following up on regions that returned historic high-grade intersections such as DDH104 (2.8m @ 14.87 g/t Au).
The Maldon Goldfield
The town of Maldon is located between Bendigo and Ballarat in the Victorian Goldfields. The Maldon Project (Maldon) is within a 100%-owned licence area that has produced over 1.74M ounces of gold at 28 g/t (2.1M ounces including alluvial gold).
Maldon hosts one of Australia’s highest grade historic gold mines, the Nuggety Reef, that produced 301,000 ounces of gold at 187 g/t.
For further information please visit: https://www.kaiserreef.com.au/
