AUS
NZ
UK
CA
USA
IND
Kaiser Reef Ltd (ASX:KAU), the unique gold explorer announced that it has secured further exploration tenure applications adjacent to the Company’s Stuart Town project.
The exploration license applications are ELA 5937 and ELA 5921, and has the potential for prospective mineralisation of varying styles. Kaiser Reef’s board considers the new licenses to be complementary to the company’s existing licenses. Securing of new exploration licenses will help maximise the regional prospectivity.
Kaiser Reef Limited current tenement holding is represented in red and new licence applications in blue
Source: Kaiser Reef
Of the two exploration licenses, ELA 5921 has been acquired from the Executive Director, Mr Jonathan Downes and the other one ELA 5937, is subject of Kaiser reef’s own application. ELA 5921 has been acquired for a nil consideration, and only the licence application fees ($1,556) was reimbursed for securing it. This act of renouncing the individual rights and transferring them to Kaiser reef is unique and will massively support Kaiser Reef’s Stuart Town project. As per the earlier published prospectus by Kaiser, the company expects to use a portion of the capital raised from the IPO on the upcoming exploration program, developed with close coordination from Snowden Mining Consultants.
Future Strategy for the Stuart Town Project: Must Read
Stuart Town in the trending Lachlan Fold Belt
The new exploration licenses would expand the Stuart Town mining ground which is located in the Lachlan Fold belt. It is to be noted that the Lachlan Fold Belt is among the most prospective exploration zones in Australia. The region came into limelight with the recent mega Boda discovery by Alkane Resources, which resulted in an intercept of 502 metres at 0.48 g/t gold and 0.2% copper from 211 metres downhole. The new exploration property would share boundaries with Industry major such as Freeport, the mega discoverer Alkane Resources and the newly listed fellow explorer Godolphin Resources.
In addition, Australia’s largest gold mine, the Cadia and Ridgeway operations shares the geological belt with the Stuart Town mining district. The au courant audience must know that Newcrest’s Cadia operations produced ~913,000 ounces of Gold with an All in Sustaining Cost (AISC) of $132 per ounce of Gold.
The mega discoveries and the established, low cost mining operations in the region have caught the eye of the investors. The region has emerged as the hottest exploration zones of Australia as it hosts the high potential of discoveries with the possibility of multiple payable commodities including gold, copper, zinc, lead, silver and tin. Almost all mining explorers and developers right from the majors to the newcomers are seeking an exploratory ground in the region.
Kaiser Reef & the Stuart Town Gold Project: Read Here
The Stuart Town Gold Mining district hosted over 80 mining operations in the past. The history of the Stuart Town mining property dates back to the nineteenth century with reported production exceeding 170 kiloounces of gold. The project is located in the mining friendly environment and hosts excellent existing infrastructure essential for exploration and development. The mining district and the also the Lachlan Fold Belt is seriously underexplored, and the miners and explorers are now taking notice of the same.
Kaiser Reef recently listed on ASX and is currently trading at $0.165 a share with a market capitalisation of $6.02 million.
