Kaiser Reef Limited (ASX:KAU) is extremely pleased to announce the first exploration results for the high-grade Maldon historic gold mine.
Managing Director, Jonathan Downes stated, “We are delighted that we are finding high-grade gold in our first trial drilling campaign.
“Maldon is one of the great goldfields and it has received extraordinarily limited modern exploration. The significant amount of gold historically won (1.74Million ounces @ 28 g/t gold), mostly within 300 metres of the surface, offers fabulous opportunity at depth.
“We are just warming up in exploring this wholly owned, high grade, multimillion ounce goldfield. We have a talented geological team and the ongoing drilling programme will be increasingly stepped out, expanded and exploration for new lodes at depth will be targeted.”
Shawn Panton, Kaiser Reef Chief Geologist, told the Tarrangower Times that the current Union Hill (MIN5146) drilling program will keep going up until Christmas, and possibly beyond.
“The Union Hill Mine covers an area of 712.4 hectares,” said Shawn. “The depth of the mine from the 1060 stope, which is essentially the bottom of the decline, and where the last campaign of mining was completed, is approximately 250 metres. Some historical mine shafts in the Maldon Goldfield extended greater than 600 metres.”
The Maldon Goldfield is owned by Kaiser Reef Limited and is comprised of several historic underground mines. After some minor refurbishment work a modern established decline under the goldfield is being used by Kaiser to support this drilling activity.
The Union Hill Mine lies within the northern extremity of the Central Maldon Shear Zone. See image below for more details.
Kaiser’s findings from trial drilling campaign at Union Hill Mine
High Grade First Exploration Results from the 100% owned Maldon Goldfield (past production exceeding 1.74M Oz @ 28 g/t gold)
Second Diamond Drill Rig booked to target the Nuggetty Reef Historic Gold Mine within Maldon (past production of 301,000 Oz @ 187 g/t)
Significant Preliminary results include:
UH-UDH-001: 0.3m at 54.5 g/t gold within 1.2m @ 14.1 g/t gold
UH-UDH-005: 0.65m @ 33.4 g/t gold
UH-UDH-006: 0.8m @ 63.6 g/t gold within 1.8m @ 29.6 g/t gold
UH-UDH-018: 0.8m @ 12.1 g/t gold and 0.3m @ 11.7 g/t gold
UH-UDH-021: 1.5m @ 6.5 g/t gold
Exploration will initially target the Eaglehawk Reef within Maldon at depth. (Past production from the Eaglehawk Reef is 491,400 Oz gold).
Decline power and ventilation – the decline was subject to minor upgrades such as the electrical distribution to support the underground activities
Drilling ongoing.
Read the Tarrangower Times ‘Modern mining in Maldon’, next week which will feature details of the Nuggety Mine.
This article appeared in the Tarrangower Times, 19 November 2021.
