Kaiser Reef Ltd (ASX:KAU), the recently listed gold explorer, announced that the Exploration Licence Application 5854 has been granted and is now Exploration Licence 8952 (Stuart Town North).
Additionally, Kaiser Reef has completed the acquisition, audit and interpretation of the historic exploration data by CRA Exploration Ltd (now, a part of the Rio Tinto Group).
Utilising CRA findings for better Understanding of the Property’s Geology
The CRA exploration program was conducted during the mid 1990’s and focussed on the economic gold mineralisation associated to the historically mined high grade shoots within the much larger disseminated mineralisation zone and the soil geochemistry for the Kaiser Wilhelm and Princess Alex workings.
The exploration program was executed in 4 phases (from 1992-1996) including airborne and radiometry surveys, geochemical testing and mapping and RC drilling at more than 11 holes extending over 1,113 metres. The historic exploration studies would enable Kaiser to develop an accurate interpretation of the exploration ground and prioritise their targets for the future drilling programs accordingly with minimal cost.
Kaiser Reef conducted an extensive QA/QC program to ensure that the JORC 2012 reporting guidelines are followed. The results show widespread and high order soil anomaly of gold and other indicating elements.
Stuart Town Project exploration licences, historic gold workings and CRA’s soil sampling program showing gold anomalism Source: Kaiser Reef Limited
The outcomes are exciting, and Kaiser is confident with the large scale and high tenor of the gold anomaly. These outcomes coupled with the widespread historic gold workings provides the claim for a focussed large-scale gold mineralisation.
The soil sampling results includes excellent results such as-
- large scale gold anomaly, up to (4,000m x 1,000m)
- Strong soil anomaly with gold grades up to 0.7 grams per tonne
- Extensive Arsenic and Antimony anomaly (with soil grades up to 2146 ppm As & 205 ppm Sb)
- Over the high target area, the anomalies coincide and are mapped as inner propylitic alteration within sulphidic rhyolite intrusives hosting historic gold workings
The coincident Gold, Arsenic and Antimony anomalies is highly significant and maximises the prospect of the targeted area as a bulk tonnage gold mineralisation. Kaiser Reef intends to identify the drill targets by precise mapping and using the fact that the porphyry systems often exihibit metal zonation, from the deep central region with Cu-(Au)-(Mo) mineralisation to As-Sb anomalism in the distal and higher level regions.
Earlier on 20 March 2020, Kaiser Reef had announced that it had secured further exploration tenure applications (ELA 5937 and ELA 5921) adjacent to the Stuart Town mining property. One of the exploration license, ELA 5921 was acquired from Mr Jonathan Downes, the Executive Director of Kaiser Reef for NIL consideration and only required the reimbursement of the license application fees, while the other one ELA 5937 is subject of Kaiser reef’s own application.
Larger exploration ground coupled with a better understanding of the mining geology maximises the future prospectivity of the Stuart Town mining project. KAU traded at $0.14 on ASX, with a market capitalisation of $4.62 Million on March 23, 2020 and approximately $4.5 Million cash from the recent IPO.
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