ASX listed Kaiser Reef Limited (KAU) announces results for inaugural drilling programme at Stuart Town Gold Project

November 03, 2020 04:21 PM AEDT
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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.

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