Kaiser Reef Ltd (ASX:KAU) has been awarded three high-priority exploration licences centred on the Molong Volcanic Belt (MVB) between the Cadia copper-gold mining operations and the Boda copper-gold discovery in central New South Wales
These licences are within a terrane actively being explored for copper/gold porphyry deposits by major international copper-gold mining companies.
This section of the MVB is one of the most richly endowed global porphyry belts and is a blue-chip addition to Kaiser’s exploration portfolio.
Two high priority exploration targets have already been identified and will supplement the ongoing Stuart Town Project exploration program in the region.
Increases strategic landholding
The three exploration licences awarded are:
- Two Mile - on the southern margin of the Big Hill porphyry project, currently the subject of active exploration and drilling where historic copper and gold mineralisation identified in soil sampling has been conducted;
- Oaky Dome - The Oaky Dome licence abuts the wholly-owned Stuart Town licence and historic gold field, a high-resolution magnetic survey shows an interpreted area on the southwestern margin that may represent an intrusive host associated with historic gold workings; and
- Bakers Creek - The Bakers Creek licence is 1.3 kilometres to the north of the Bakers Swamp copper/gold porphyry target and covers a region of prospective mapped monzonitic intrusive rocks.
These three new licences substantially increase Kaiser’s strategic landholding in this highly prospective district from 78 square kilometres to 196 square kilometres.
Initial work will consist of historic data review, mapping, local sampling, and data compilation.
Victorian exploration
Kaiser’s next major upcoming exploration campaign will focus on the high-grade Maldon Goldfield in Victoria.
Exploration drilling at the A1 Mine is ongoing, with encouraging recent drill results from the current program such as:
- 3.7 metres at 68.6 g/t gold;
- 12.1 metres at 24.26 g/t gold;
- 25 metres at 5.03 g/t gold; and
- 19.1 metres at 11.9 g/t Au with further drill results pending.