Kaiser Reef Ltd (ASX:KAU) has intersected bonanza gold grades, including 4.4 metres at 118 g/t, in an underground diamond drilling program, extending mineralisation beyond the historical mining at Welcome Reef and Victory Reefs within the A1 Mine in Victoria.
Standout assays include:
- 1.7 metres at 34.4 g/t gold from 22.3 metres, including 0.2 metres at 277 g/t from 22.8 metres;
- 0.2 metres at 14.77 g/t from 36 metres;
- 4.4 metres at 118 g/t from 25.4 metres, including 0.3 metres at 1,715 g/t from 25.4 metres; and
- 1.75 metres at 53.8 g/t from 40.9 metres, including 0.4 metres at 230 g/t from 42.25 metres.
Drilling resumed at A1 after a two-month hiatus, targeting near-term mining potential between 15 and 16 levels south of the existing 1410 South mining development.
Drill program
The 1410 South drilling program is an exploration initiative targeting the southern A1 Dyke stratigraphy between the 1410mRL to just below the 1350mRL.
The target zone represents one of the, if not the most, under-drilled portions of the A1 Mine which is much higher in the mine than the current production centre below the 1250mRL.
Drilling resumed in the 1410 South Drive site testing a window of dyke around the historically mined Victory, Welcome and Dawn Reefs as well as likely repeat structures in footwall / hanging-wall positions to these historically rich reefs.
A total of three holes have been drilled to date in this second program with significant high-grade quartz veins with visible gold encountered in each hole and this has opened the potential for new mining areas, in particular downdip extensions of Dawn and Welcome reefs.