Kaiser Reef Limited reported further encouraging gold results from drilling within the A1 mine, with a best result of 13.5m @ 6.6 g/t gold that includes a higher-grade interval of 3.5m at 16.5 g/t gold. In addition, the interpreted extension of the recently discovered Neesham Reef was encountered earlier than expected in the development and the first mining has commenced with visible gold noted in the mining face. A1UDH-497 was drilled to a length of 186.3m.

The main dyke bulge intersected in this hole showed promising sericite /hydrothermal alteration in close association with stylolitic quartz vein breccias. Up to 3 dyke apophyses were intersected and terminated in highly fractured sediments, possibly at the Eastern Shear. This zone is substantially north of historic workings, north of the Queens Lode and confirms the presence of northern reefs strike continuity.

The central dyke bulge has up to 10% disseminated sulphides (mostly pyrite) and strong sericite alteration in association with veins and breccias. This is an exceptionally encouraging zone given the location, limited historic drilling and extent of visual mineralisation. The drilling currently being conducted is proving up areas of mineralisation that will be targeted for both medium and long term mining.

Results being received are very encouraging and justify the investment and improvement focus that will support the future mining operations.