- Kaiser Reef (KAU) updates the market regarding operations at the high-grade A1 gold mine in regional Victoria
- Operations at the A1 Mine are progressing well and mining has reached the top of the Queens Lode at 1260 metres
- Just yesterday, the first ore was extracted and shipped for processing and this marks an important milestone as it will support increasing production
- Kaiser has also received further results from the Queens Lode with up to 62.1 grams of gold per tonne intersected
- Shares in Kaiser are up 6.38 per cent on the market and are trading at 25 cents
Kaiser Reef (KAU) has updated the market regarding operations at the high-grade A1 gold mine in regional Victoria.
Operations at the A1 Mine are progressing well and mining is continuing following the recent earthquakes.
Mining has reached the top of the Queens Lode at 1260 metres relative level (mRL) and mechanical stoping will begin when further development is completed.
The Queens Lode ore body is quite different from the ore typically mined at the A1 mine and it displays wide zones of alteration.
Recent decline development has opened new areas for mining activities which includes the 19 Level Intermediate.
Just yesterday, the first ore was extracted and shipped for processing from the Queens Lode and this is an exciting milestone for Kaiser as it will support increasing production from the 19 Level.
Developing the Queens Lode will provide a strong increase in production rates at lower rates of costs per tonne.
Kaiser has also received further results from the Queens Lode with a best result of 0.2 metres at 62.1 grams of gold per tonne (g/t) from 30 metres.
Other results include one metre at 34.1g/t gold from 53.9 metres, 2.1 metres at 18.3g/t gold from 11.2 metres and 0.4 metres at 17.8g/t gold from 67.8 metres.
Drilling has wrapped up and assays for the remaining holes are pending and will be released when received.
Shares in Kaiser were up 6.38 per cent on the market and were trading at 25 cents at 11:47 am AEDT.