Kaiser Reef has announced that its Maldon gold project in the Victorian Bendigo-Ballarat zone has been granted a key exploration licence.
The licence for the Lachlan Fold Belt project has been granted for an initial five year period.
In a statement announcing the license approval, Kaiser said it was extremely pleased with the licence as it covers an area larger than the previous combined Maldon licences– over 140km.
Kaiser had previously held a narrow mining licence for the Maldon project, however this extended application will allow exploration around the Nuggety Reef project in the area.
Future drilling around the Nuggety mine will be used to test down dip positions near the granite contact, according to the statement.
“One of the Maldon’s key advantages is the extensive existing infrastructure and proximity to Kaiser’s operating gold processing plant,” the company said.
“When exploration proves successful, rapid and low-cost development will be implemented utilising Kaiser’s mining fleet and experienced mining team for minimal capital cost.”
Kaiser is currently undertaking major infrastructure construction at the site, including a high-voltage power upgrade and an expanded underground remote mining fleet.
“The granting of the exploration licence will also allow Kaiser to follow up on the identified priority geophysical targets and regional high grade gold drill intercepts at Maldon,” the company said.
“Additionally, some parts of Kaisers Exploration Licence are under cover, including a gravity ridge like the one on the eastern side of the main Maldon field.
“The field may contain undiscovered high-grade shoots, which do not “daylight” and have not been found by previous mining. Very little drilling of targets other than for extensions of known shoots has been undertaken.
“There is a real opportunity to use modern exploration techniques to target economic mineralisation.”