Kaiser Reef restarts underground development at Maldon gold mine
Kaiser Reef has commenced underground development at its Maldon gold project in Victoria, marking the first development activity at the site in almost eight years.
The first development cut has been taken for the Northern Drill Drive beneath the Union Hill gold mine, establishing a new underground platform for exploration and resource definition.
The development will allow Kaiser to test areas north of existing workings, including the Eaglehawk and Linscott’s Reefs, as well as the parallel Ladies and Sailor’s Reefs.
Kaiser managing director Brad Valiukas said the milestone marked an important step in advancing the broader Maldon project.
“Maldon represents a district-scale gold opportunity for Kaiser, with numerous historical mines and lines of working that remain substantially underexplored, despite having produced an enviable 1.75 million ounces at 28 grams per tonne,” Valiukas said in a statement.
The company said Maldon is supported by an operating processing plant, a fully permitted mining lease and an existing decline, providing infrastructure that can support both exploration and potential future production.
Kaiser has already completed stripping work in narrow sections at the top of the decline in preparation for potential future haulage. The new development cuts represent the next stage of works and will establish access for underground drilling.
Valiukas said underground drilling would play an important role in the company’s strategy to define additional resources and support future development.
“We are committed to generating the most value from the entire project, and are undertaking works that will both grow the Project as a whole and advance towards expanding production,” he said.
“Drilling from underground is a key part of the strategic plan to both define Resources and clear the way for the next stage of development.”
Kaiser said the development program forms part of its broader strategy to invest in exploration and development opportunities while continuing to build value across its Australian gold portfolio.