Kaiser Reef Limited to reported encouraging drilling results from the ongoing A1 Mine diamond drilling programme and also updates from the Maldon development project. The drill holes from A1 continue to target both near term mining and new deeper medium- term discoveries. Kaiser is delighted that the ongoing drilling is delivering the intended results which are to provide mining team with an increased range of mining options. These new lode positions are key to the ongoing development and expansion plans for future production. This batch of drilling results from the ongoing A1 Mine programme returned further excellent high-grade results such as: A1UDH-477: 0.8m @ 157.6 g/t gold, A1UDH-479: 0.5m @ 154.3 g/t gold, A1UDH-480: 0.2m @ 19.2 g/t gold, A1UDH-481: 1.9m @ 17.5 g/t gold, A1UDH-482: 1.5m @ 11.8 g/t gold. See the table of drill results included in this release for a complete list of zones of gold mineralisation intercepted. This is following the intervals returned in the last releases to the ASX that included better results including an interval of A1UDH-472: 4.6m @ 135.7 g/t gold and A1UDH-476: 1.92m @ 43.2 g/t gold. These results provide critical mine planning information for future mining of the previously identified reef systems as well as suggesting potential discoveries of several new reef systems. The drilling programme is ongoing as per the 2021 plan with the rig(s) moving between A1 and Maldon to allow processing of drill core, final assays and ongoing Mineral resource Estimate calculations. Assay results with geological descriptions of anomalous intersections are presented in the table below, with typical assay turnaround of approximately 40 days. A1UDH-480, -481, - 482 results have now been received. All of the drill holes intercepted the high-grade Sovereign Reef just below the drill cuddy as expected. There were several other significant intersections in A1AUD-481. Unfortunately, A1UDH-480 and -481 intersected old workings of Duke's and Queens Reef stopes respectively and were abandoned. A1UDH-482 encouragingly did intersect the Perseverance Reef. Maldon: In addition to the activity at the A1 Mine, careful modelling, resource estimation and validation work is ongoing at the historic Maldon underground workings. This activity is targeting the identification of mining opportunities focussed on previously identified lodes as well as new conceptual exploration targets to test for large scale and high-grade lodes as previously identified and mined at Maldon.
Finally, data is being compiled to support regional exploration for parallel reef systems to
the East and North of Maldon where weathered sedimentary cover have obscured the surface expression of potential high-grade lodes. Recent integrated structural, geophysical research and geological modelling has highlighted this opportunity. As detailed to the ASX historic drill hole DDH005 returned 2m @ 23.9 g/t gold from 218m. This drill hole was following up lower grade mineralisation identified in DDH002, in drilling by Carpentaria Exploration in 1980. Kaiser believes that this hole has potentially identified a new reef system parallel to Maldon which substantially opens up the possibility for further discoveries to the East. This work is ongoing.