Kaiser Reef begins underground development at Maldon gold project

Kaiser Reef has commenced underground development at its Maldon gold project in Victoria, marking the first on-site development in nearly eight years. The company is utilizing a jumbo drill rig at the Union Hill gold mine to establish a new Northern drill drive. This development is intended to provide access for drill testing of several underexplored reef systems, including the interpreted extensions of the Eaglehawk and Linscott’s Reefs, as well as the Ladies and Sailor’s Reefs.

The Maldon project is situated within the Victorian Golden Triangle, a region that has historically produced 1.75 million ounces of gold with an average grade of 28 grams per tonne. Kaiser Reef currently holds a 187,000-ounce gold resource at the Union Hill deposit and operates a 200,000 tonne per annum processing facility at the nearby Porcupine Flat plant.

Managing director Brad Valiukas stated, “Maldon represents a district-scale gold opportunity for Kaiser, with numerous historical mines and lines of working that remain substantially underexplored.” The company is also conducting a surface drilling campaign to test its Quill target.