High-grade gold hits add more lustre to Kaiser in Victoria

WA-based gold miner Kaiser Reef has added to its list of promising grades returned from its A1 mine in Victoria, with the latest diamond drill results indicating all holes intercepted the recently discovered Sovereign high-grade reef.

Highlights include 0.8m at 157.6 g/t gold from 3.4m depth, 0.5m at 154.3 g/t gold from 108.8m, and 1.9m at 17.45 g/t from 4.1m.

Even better results were reported in May and June – such as 1.92m grading 43.2 g/t gold from 3.2m depth and 4.6m at 135.7 g/t from 36m.

Management says the latest figures provide critical planning information for future mining and indicate the potential for several new reef systems.

The company also provided an update on its other gold interests in Victoria.

Kaiser bought A1 in 2016 as part of a package of assets from the administrator of Centennial Mining. The deal included the multi-million-ounce Maldon goldfield, the historic Maldon mine and its associated gold processing facility.

Maldon goldfield has produced more than 1.76 million ounces of gold. It’s also home to Nuggety Reef – reputed to be Australia’s highest-grade gold mine that returned a whopping 301,000 ounces of gold at 187 g/t.

Maldon is about 300km to A1’s west and Kaiser’s management says its drilling rigs are moving between A1 and Maldon to allow processing of drill core, final assays and ongoing mineral resource estimate calculations.

Kaiser is undertaking modelling, resource estimation and validation work at Maldon to identify new opportunities on previously identified lodes, in addition to new targets that were previously identified and mined.

Data is also being compiled to support regional exploration for parallel reef systems to the east and north of Maldon.

Weathered sedimentary cover has obscured the surface expression of potential high-grade lodes however Kaiser says new opportunities have been unearthed by recent structural, geophysical research and geological modelling.

One historic drill hole has returned 2m at 23.9 g/t gold from 218m.

Kaiser Reef believes the hole has potentially identified a new reef system parallel to Maldon, opening up the possibility for further discoveries to the East. Watch this space.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au