Kaiser Reef Ltd (ASX:KAU, ASX:) has intersected further high-grade gold in diamond drilling at the A1 Mine operations in Victoria.
Notably, the best intersection is 13.5 metres at 6.6 g/t gold from 99.2 metres including a higher-grade interval of 3.5 metres at 16.5 g/t.
Other strong intervals include:
- 1.36 metres at 23.8 g/t gold from 66.7 metres;
- 1-metre at 16.0 g/t from 56.6 metres; and
- 6 metres at 10.3 g/t from 37.6 metres, including 1-metre at 54.2 g/t from 37.6 metres.
Subsequently, the first mining has kicked off with visible gold noted in the mining face.
Drill summary
Drill hole A1UDH-497 was drilled to a length of 186.3 metres. The main dyke bulge intersected in this hole showed promising sericite/hydrothermal alteration in close association with stylolitic quartz vein breccias.
Up to three dyke apophyses were intersected and terminated in highly fractured sediments, possibly at the Eastern Shear.
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) and strong sericite alteration in association with veins and breccias.
This is an exceptionally encouraging zone given the location, limited historic drilling and extent of visual mineralisation.
About Kaiser Reef
Kaiser Reef is an Australian gold mining company which is operating the high-grade A1 mine in Victoria and exploring historic goldfields within the Lachlan Fold Belt in NSW and Victoria.
The company was listed on the ASX in February 2020 and commenced exploration in NSW shortly after.
Through the acquisition of the high-grade A1 underground gold mine as well as the historic Maldon goldfield in Victoria in January 2021, coupled with the associated gold processing plant, Kaiser has transitioned from explorer to producer in less than a year.