Kaiser Reef (ASX:KAU) said a surface diamond drilling campaign at its Maldon Gold Project in Victoria is underway, with drilling at the Quill gold target commenced, according to a Wednesday Australian bourse filing.
The company said the initial phase comprises about 4,350 meters across four targets, with drilling expected to be extended and to continue throughout the remainder of the year, progressing to other targets, including Union Hill North and Nuggetty South.
The company's shares fell 2% in recent Wednesday trade.