- Kaiser Reef (KAU) has secured two exploration licences at Macquarie Arc in NSW
- The licences are considered to have the potential for copper and gold mineralisation and cover an area of 80 square kilometres of the Macquarie Arc
- However, the exploration licences still need to be granted which is expected in three months
- Kaiser is up 9.76 per cent on the market today, trading for 22.5¢ each
Kaiser Reef (KAU) has secured further exploration licences, ELA 5948 and ELA 5949 at Macquarie Arc.
The licences are considered to have the potential for copper and gold mineralisation and cover an area of 80 square kilometres of the Macquarie Arc.
However, the exploration licences still need to be granted which is expected in three months.
“Whilst the company is not aware of any reason why the exploration licences will not be granted in due course, investors are cautioned that there is a risk the exploration licences will not be granted,” Kaiser Reef announced.
Macquarie Arc is located within the Lachlan Fold Belt in New South Wales.
The project lies to the north of licenses held by FMG Resources and Kincora Copper Australia.
“It is extraordinary that a mineral terrain of this potential within Australia, one of the premier mining districts in the world, remains so untested,” the company said.
“While the company’s focus remains at the gold endowed district of Stuart Town, Kaiser is excited to have secured this greenfield project and will work towards exploration as soon as practical,” it added.
Kaiser is up 9.76 per cent on the market today, trading for 22.5¢ each at market close.