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Kaiser Reef (ASX:KAU) - Non Executive Chairman, Adrian Byass - The Market Herald
  • Kaiser Reef (KAU) has received all relevant drilling permits and landowner access agreements to begin drilling at its Stuart Town Project in NSW
  • Additionally, the company has secured the services of a drilling rig from the Australian Mineral & Waterwell Drilling
  • This upcoming drilling program is the first phase of a large program and will test several targets, including the Specimen Hill mine
  • The start date is yet to be decided as it may be affected by the weather due to the forecasted heavy rain
  • Kaiser Reef is up a steady 10.1 per cent on the market and shares are trading for 38 cents each

Kaiser Reef (KAU) has received all relevant drilling permits and landowner access agreements to begin drilling at the Stuart Town Project.

The Stuart Town Project is located in New South Wales and is considered prospective for large scale intrusion related gold systems.

Historically, more than 170,000 ounces of gold has been sourced from relatively small lode and alluvial gold sources.

Additionally, Kaiser Reef has secured the services of a drilling rig from Australian Mineral & Waterwell Drilling. This rig is capable of undertaking both reverse circulation (RC) and diamond drilling.

This upcoming drilling program is the first phase of a large program and will test several targets, including the Specimen Hill mine.

Work will begin with RC drilling and will be followed-up by diamond drilling later on.

However, before it can begin, Kaiser Reef will need to prepare the site for drilling and is already undertaking clearing work.

The start date has yet to be decided as it may be affected by the weather due to the forecasted heavy rain.

Kaiser Reef is up a steady 10.1 per cent and shares are trading for 38 cents each at 1:18 pm AEST.


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