
July 19, 2022
Kaiser Reef Limited (ASX:KAU) (“Kaiser” or the “Company”) is extremely pleased to report a maiden JORC Resource for the Maldon Gold Project (“Maldon”). The initial Resource Estimate has exceeded the Company’s expectations and will be the subject of mining studies with an engineering and geological team to be dedicated to investigating further drilling requirements and planning toward profitable mining at Maldon.
Importantly, the resources are situated within a granted mining licence that has extensive existing infrastructure including a modern decline (5m x 5m). Kaiser is permitted to mine at Maldon, however an emergency egress will need to be established and some infrastructure will require review and testing, before predictable and profitable production, which will now commence.
The Maldon decline portal is located only 2 kilometres to the west of Kaiser’s wholly owned gold processing plant which is currently operating profitably but well under capacity. Kaiser has a vision to develop the Maldon operations to become a two mine high grade production company.
MALDON HIGHLIGHTS
- A Mineral Resource Estimate of 1.2 Mt at 4.4 g/t gold (Inferred) for 186,656 ounces of gold; and
- An Exploration Target of 1.75 to 2.7Mt at between 3 g/t gold and 4 g/t gold for between 165,000 ounces of gold to 345,000 ounces of gold
- Extensive existing infrastructure and capital
- Existing mine permitting
- Proximity to wholly owned processing plant
- Processing plant currently operating profitably well below capacity
- Major Historic Goldfield with exceptional exploration potential. Historic production of 1.74M ounces at 28 g/t gold
Disclaimer: The potential quantity and grade of the Exploration Target is conceptual in nature and is an approximation. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource
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.
Maldon has an established and serviced decline which allows excellent underground access for drilling high-grade shoots and is currently facilitating the underground drilling and ultimately, could allow recommencement of modern mining if exploration is successful.
The Maldon goldfield is located in the Bendigo Zone and is hosted in similar geology and has undergone the same broad structural deformation and mineralisation events as regional Bendigo. Large deposits within the Bendigo area currently being exploited include the Fosterville Mine operated by Kirkland Lake Gold (Canada). The regional-scale mineralisation event is also the driver of goldfields at Bendigo, Fosterville, Castlemaine, Maldon and Daylesford.
One of the Maldon’s key advantages is the extensive existing infrastructure and proximity to Kaiser’s operating gold processing plant (2 km away) and that it is held under a granted Mining Licence. Kaiser is well staffed and has the capacity to move forward with the implementation of a viable plan.
Kaiser considers Maldon to be an underexplored and prospective prolific high grade historic goldfield. Exploration at Maldon remains a high priority objective for Kaiser.
The majority of recent drilling has targeted the historic high-grade mineralisation around the Alliance South Shoot lode within the Eaglehawk Reef, one of Maldon’s largest high-grade Reefs that produced nearly 500,000 ounces of gold (Figure 1). Kaisers initial drilling program targeted regions identified as being close to the existing underground development and with historically encouraging results within the Union Hill decline. This drilling has identified mineralised areas and will step out to explore for and define economic ore zones judiciously.
Click here for the full ASX Release
This article includes content from Kaiser Reef Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
KAU:AU
The Conversation (0)
15h
Gold Price Breaks US$3,900; Silver Above US$48, Platinum Over US$1,600
Gold continued to set new records on Monday (October 6), breaking US$3,900 per ounce. After spending the summer months consolidating, the yellow metal began pushing higher toward the end of August. It quickly reached US$3,500 and continued on up, rising as high as US$3,972.60 on on Monday. The... Keep Reading...
19h
What Was the Highest Price for Gold?
Gold has long been considered a store of wealth, and the price of gold often makes its biggest gains during turbulent times as investors look for cover in this safe-haven asset.The 21st century has so far been heavily marked by episodes of economic and sociopolitical upheaval. Uncertainty has... Keep Reading...
03 October
Top 5 Canadian Mining Stocks This Week: Prospector Metals Gains 356 Percent
Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.The big event impacting markets this week was the shutdown of the US government. Although... Keep Reading...
03 October
Editor's Picks: Gold Price Sets Sights on US$3,900, Silver Breaks US$48
The gold price continued to move this week, approaching the US$3,900 per ounce level and setting a fresh all-time high on the back of a US government shutdown.The closure came after Congress failed to reach an agreement on a spending bill ahead of the new American fiscal year, which began on... Keep Reading...
03 October
Minera Alamos Closes Nevada Mine Acquisition, Expands US Gold Footprint
Minera Alamos (TSXV:MAI,OTCQX:MAIFF) has completed its purchase of the Pan gold mine and two development-stage projects in Nevada from Equinox Gold (TSX:EQX,NYSEAMERICAN:EQX).The Toronto-based company said Wednesday (October 1) that it closed the previously announced transaction to acquire the... Keep Reading...
02 October
Option Exercise Nets $2.3M to Expand Exploration at Pinjin
Kalgoorlie Gold Mining (KAL:AU) has announced Option exercise nets $2.3M to expand exploration at PinjinDownload the PDF here. Keep Reading...
Latest News
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00