Kaiser Reef Highlights Specimen Hill for the Upcoming maiden Drilling Program at Stuart Town

  • Jun 17, 2020 AEST
  • Team Kalkine
Kaiser Reef Highlights Specimen Hill for the Upcoming maiden Drilling Program at Stuart Town

Summary

  • Extensive interpreted Intrusive system within 200 metres to the surface
  • Specimen Hill and Kaiser Wilhelm, the 2 identified priority drilling areas
  • Stuart Town located between Newcrest’s Cadia and Alkane’s Boda
  • Geophysical results indicate Intrusion along 1,200 metres strike with depth up to 1,750 metres

On 17 June 2020, Kaiser Reef Limited (ASX: KAU), the unique gold explorer from the Lachlan Fold Belt,  announced Specimen Hill region as the priority target based on the historical gold mining operations for the upcoming reverse circulation and diamond drilling program.

The recently completed high-resolution gravity geophysical survey has been processed and modelled, which indicates the presence of an intrusive system outcropping within 200 metres of the surface. Such shallow intrusions strengthen Stuart Town’s potential to hold large scale shallow gold mineralisation.

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The intrusive body runs along the strike of around 1,200 metres with significant width and depth up to 1,750 metres. The magnetic survey further indicated that this anomaly which has low gravity, is held within a major structural corridor.

 

Gravity survey over grey scale magnetic survey Source: Kaiser Reef

Gravity survey over grey scale magnetic survey Source: Kaiser Reef

 

The interpreted intrusion may be the original source of the extensive rhyolite-hosted gold veins and the historically mined workings especially the volcanic rhyolitic breccias in the Specimen Hill, Quartz Hill, and Manna Hill historic underground mines.

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The adit channels, entrance to the historic gold mines, were sampled with the Specimen Hill No. 2 adit returning a 15 metres wide section averaging at 36 gram a tonne of gold, with individual samples grading as high as 120 grams of gold per tonne. The samples were collected from the highly sheared rocks in association with quartz veins.

 

Rhyolite breccia Samples from the Specimen Hill Mine (L), Adit (R) Source: Kaiser Reef

Rhyolite breccia Samples from the Specimen Hill Mine (L), Adit (R) Source: Kaiser Reef

 

Kaiser had also conducted a dense (25m x 50m) soil survey with gold grades up to 7.15 g/t gold. Further, an associated and coincident arsenic and potassium anomaly at the Specimen Hill historical mining sites have also been confirmed.

Kaiser identifies Specimen Hill gold trend as a high priority drilling region alongside Kaiser Wilhelm prospect.

Kaiser Preparation for the Upcoming Drilling Program

The coronavirus pandemic had shown its effect by slowing exploration activities in the region, but the planned relaxing of some of these restrictions will accelerate the exploration activities at the flagship Stuart town Gold project. Kaiser is committed and complies with health policies to ensure the health and safety of its employees, agents, contractors and the local community.

Kaiser is currently assessing the drill sites and already has a field team on site to evaluate and prepare for the upcoming RC and diamond drilling program. With exploration activities and movement restrictions eased in NSW now, Kaiser is well placed to commence drilling soon on securing all the relevant permits which is anticipated in the near term.

Kaiser Reef traded at $ 0.265 on 17 June 2020, recording an increase of 32.5% against its issue price, with a market capitalisation of $8.86 million and holds ~$4 million in cash.

All financial information pertains to Australian Dollars, unless stated otherwise

 


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