Keizer Reef reports new high-grade gold values ​​from Australia

When you continue mining from the flagship mine “A1”, you win Kaiser Reef Limited (ASX: KAU, ISIN: AU0000072506) During underground exploration, new discoveries of the location of other ore veins continue to occur, as well as substantial gold grades. The Perth-based company announced on Wednesday that current drill core interpretation confirms additional high-grade results, including a 13.5 meter intercept of 6.6 grams per tonne gold, including a high-grade 3.5 meter interval at 16.5 grams.

The “A1” underground mine – the name means “high grade” – at Jamieson, Victoria, is known for high-grade mineralization exposed at depth. After acquiring the mine last year, Kaiser Reef restarted production and was able to generate already profitable cash flow and increased production rates and margins. At the same time additional mineralized zones follow.

Highlights of the latest ratings

The most recent drill results show encouraging intercepts, some double-digit gold values, notably 54.2 grams per ton of gold in the high-grade interval, 10.3 grams in the six-meter interval (hole A1UDH-503 in) 37, 6 meters deep). Results from three additional drill holes are also highlighted.

Hole A1UDH-494 encountered 1.36 meters of 23.8 grams of gold from a depth of 66.7 meters. Hole -A1UDH-497 returned 13.5 meters grading 6.6 grams per tonne gold from 99.2 metres; 3.5 meters with 16.5 grams at a depth of 99.2 meters. Finally, A1UDH-500 cut 1.0 meters from a depth of 56.6 meters at 16.0 grams per tonne gold.

Piercing stabilizes additional nerves

Of particular interest is hole A1UDH-497 with a 13.5 meter interval grading 6.6 grams per tonne gold. The hole has an overall length of 186.3 meters; The dyke swelling it cut showed prospective sericite hydrothermal alteration closely associated with stylolitic quartz vein breccias. (Stylolites: “cut off” surfaces where minerals have been eroded by dissolving under pressure and reducing the volume of the rock). Three dikes are cut into apophyses (rock branches from magmatic to country rock) that terminate in fractured sediments; Maybe in the Eastern Ray.

The central dyke swell shows an encouraging prospect. This zone is primarily located north of Queen’s Lodge to the north of the historic works. This confirms the presence of northerly veins showing continuity of strike. The swell contains up to 10% disseminated sulfides (mostly pyrite) and strong sericite alteration associated with veins and breccias. This is a highly prospective zone based on location, limited historical drilling and extent of visible mineralization.

Justified investments

Drilling to date demonstrates areas of mineralization considered for medium to long term mining. Encouraging valuations warrant further investment and improvements to support future mining operations. In an earlier press release, Kaiser Reef cited measures to improve power supply.

Mining from the Neesham Reef expansion begins soon

Another encouraging development comes from the Neesham Reef area. The hole that discovered the high-grade vein in July returned 2.4 meters grading 215 grams per tonne gold at that time. The described extension of the nerve is now encountered earlier than the extension in development. Visible gold was seen on the face; The first removal began.

About Kaiser Reef Ltd

Perth-based Kaiser Reef Ltd, ASX-listed since 2020, focuses 100% of its assets in the Lachlan-Ford-Belt gold mining district, a region between Victoria and New South Wales. Keizer Reef is Australia’s top quality gold producer.

The main project is the “A1” mine, discovered in 1861, where diamond drilling has produced high-grade gold grades and new ore veins are now being developed. The second major project, Malton Goldfield, is home to Union Hill, one of the largest historic hard gold mines in the state of Victoria, and is the site of a proprietary processing facility. Plans are currently underway to resume mining and drilling campaigns at the site.

Currently on hold, Kaiser Reef has additional exploration properties in its portfolio in the neighboring state of New South Wales.