en.Wedoany.com Reported - Kaiser Reef has commenced underground development at its Maldon gold project in Victoria, ending nearly eight years of inactivity at the mine site.

The company completed its first development cut at the Northern Drill Drive beneath the Union Hill gold mine, establishing a new underground platform for exploration and resource definition. The development aims to test areas north of the existing mining zone, including Eaglehawk, Linscott's Reefs, as well as the parallel Ladies and Sailor's Reefs.

Kaiser Reef Managing Director Brad Valiukas stated that this progress is significant for advancing the overall development of Maldon. He noted that Maldon hosts numerous historical mines and workings that remain underexplored to date, yet have already produced a total of 1.75 million ounces of gold at a grade of 28 grams per tonne.

The Maldon project currently features an operating processing plant, a fully permitted mining lease, and an existing decline that can support exploration and potential future production. The company has also completed stripping of a narrow section at the top of the decline in preparation for potential future haulage.

The new development cut marks the project's entry into its next phase and will establish access for underground drilling. Valiukas stated that underground drilling will play a key role in defining additional resources and supporting subsequent growth. The company is advancing work that can both grow the entire project and expand production, with underground drilling being a critical component in defining resources and clearing development hurdles.

Kaiser Reef stated that this development plan is part of its overall strategy, as the company continues to invest in exploration and development opportunities while consistently creating value across its Australian gold asset portfolio.