Kaiser Reef Limited (ASX:KAU) announced the results for the maiden reconnaissance drilling program at the Stuart Town gold project.
The initial drilling program included 3 holes at the Specimen Hill priority target. Each of the 3 drill holes at the Specimen Hill prospect intersected gold mineralisation-
- KRRC004: 2 metres with 0.99 g/t Au from 53 metres
- KRRC005: 2 metres with 0.80 g/t Au from 59 metres
- KRRC006: 13 metres with 1.1 g/t Au from 25 metres
A deeper diamond drilling program is progressing on the Quartz Hill prospect and the hole is already over 540 metres downhole.
Kaiser Reef last traded $0.41 a share and is currently suspended from trading on ASX as on 3 November 2020.
All financial information pertains to Australian Dollar unless stated otherwise.