VICTORIAN OPERATIONS 

A1 Gold Mine

In January 2021, Kaiser acquired 100% of Centennial Mining Ltd and therefore a 100% interest in Centennial assets; A1 gold mine, Maldon goldfield (care and maintenance) and the Maldon processing plant which treats A1 ore.

The A1 gold mine was discovered in 1861 at an outcrop known as Castle Reef. Underground mining accessed by two shafts continued until 1992. Historical records show total production of approximately 620,000 ounces of gold.

The A1 Gold Mine is located in Eastern Victoria, 23km south-southeast of Jamieson and 300km east of Maldon (by road). The project is located on the extensive and prospective Lachlan Fold Belt which extends from New South Wales to Victoria. The A1 Gold Mine is located within a north-west trending belt of tightly folded Early Devonian sedimentary rocks. Mineralisation at the A1 Gold Mine is hosted within, or immediately adjacent to diorite dykes.

Ongoing mining is conducted using air-leg mining techniques targeting the high-grade (+10 g/t Au) ore. The intent is to expand into mechanised mining upon completion of successful underground exploration to delineate increased resources and reserves to support the operation expansion.

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A1 Gold Mine

Porcupine Flat Processing Plant

Ore from A1 is trucked to the company’s wholly owned CIL gold processing facility at Maldon (Porcupine Flat) which is located approximately 2km north east from Maldon. The facility is adjacent to a sealed road which is well established for ore delivery through a weighbridge system. The facility is fully permitted and in operation.

The Maldon Goldfield

The Maldon Goldfield is located within the central portion of the Bendigo-Ballarat zone of the Lachlan Fold Belt. During the acquisition of the A1 gold mine, Kaiser Reef also acquired the Maldon Goldfield Project and subsequently owns the Union Hill Mine (care and maintenance) and Nuggety Mine (historic) at Maldon.

Historic production within the Maldon gold field is recorded to be in excess of 1,700,000 ounces of gold. The most recent mining activity ceased in 2018.

The company intends to conduct extensive exploration during 2021 with the intent to re-enter production upon delineation of sufficient resources and reserves to support a recommencement of mining if successful.