- Kaiser Reef (KAU) has received more results from ongoing drilling at its recently acquired A1 Mine in Victoria
- The gold producer is conducting a 4000-metre drilling program to determine the potential and extent of mineralisation and eventually define a mineral resource
- The latest batch of assays returned gold grading up to 44.3g/t, which builds on a recent outstanding result of 68.6g/t gold
- Drilling will now focus on the Queens Lode to target mineralisation between 150 and 300 metres below the deepest historical working
- Kaiser ended the day 11.5 per cent higher with shares closing at 48.5 cents
Kaiser Reef (KAU) has received more results from ongoing drilling at its recently acquired A1 Mine in Victoria.
Last month, Kaiser re-listed on the ASX after roughly four months. During this time, it focused on reinventing itself and transitioning from a gold explorer to producer. It also acquired a 100 per cent interest in Centennial Mining and its assets.
Since acquiring the A1 Mine, Kaiser has been conducting a 4000-metre drilling program aimed at defining the resource and determining the potential for mineralisation of this underexplored project.
Best results include 12.1 metres at 24.26g/t gold from 20 metres and 1.8 metres at 11.6g/t gold from 81.7 metres including five metres at 44.3g/t gold from 20 metres and 5.1 metres at 13.7g/t gold.
These build on a previous result of 3.7 metres at 68.6g/t gold from 65.1 metres, which was reported on February 1.
Drilling will now progress to cover resource definition at Queens lode and then move on to target deeper mineralisation between 150 metres to 300 metres below the mine’s historical workings.
Kaiser believes the Queens Lode represents the most advanced bulk tonnage exploration target with well-defined resource potential.
Kaiser ended the day 11.5 per cent higher with shares closing at 48.5 cents at market close.