Kaiser Reef has seen significant progress in its diamond drilling program at the A1 gold mine in Victoria, uncovering high-grade gold results from the Nova zone.
The findings mark a major step forward for Kaiser Reef and the historic mine, which is transitioning from decades of remnant mining to unlocking untouched high-grade gold reefs.
The first two drill holes returned strong results, with hole AUDH567 producing 0.20m at 65.1 grams per tonne (g/t) gold from 24.7m and 0.40m at 40.9g/t gold from 46.9m.
Meanwhile, hole AUDH568 had results of 0.80m at 32.7g/t gold from 28.4m.
“These findings support the strike and orientation from earlier exploration results, such as 0.40 metres at 69.2 g/t gold from 229.4 metres,” Kaiser Reef said.
“In addition, these drill holes confirm the potential for discovering and planning new high grade reef systems.”
Kaiser’s geologists have indicated wider quartz reef systems in later drill holes, with assays expected in the coming weeks.
If the high-grade results continue, the mineralisation will be incorporated into mine planning, a move that could revolutionise production at the A1 gold mine.
The mine has been operating almost continuously since 1861, having historically delivered up to 1000 ounces (oz) of gold per vertical metre, making it one of Victoria’s most significant gold mines.
However, the past 30 years of remnant mining have yielded less than 237oz per vertical metre on average.
By targeting the Nova zone and its un-mined regions, Kaiser Reef expects to achieve higher recovery rates.
The company highlighted that “limited historic drilling shows the mineralisation extends into the Nova zone of previously un-mined regions”.
While Kaiser Reef focuses on unlocking the potential of the untapped zone, the discovery could reinvigorate one of Australia’s oldest gold mines, creating substantial value for both investors and the local mining industry.
Further assays and drilling programs will determine the full potential of the Nova zone.
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