Kaiser Reef Limited has taken the first development cut of the Northern Drill Drive at the Maldon Gold Project in Victoria, marking the first underground development work at the Union Hill mine in nearly eight years.

The development is taking place via an existing decline beneath Union Hill, establishing a new underground drill platform to facilitate testing north of existing workings. This includes targeting the Eaglehawk and Linscott's Reefs, alongside the parallel Ladies and Sailor's Reefs.

“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 1.75Moz at 28g/t.

“Crucially, Maldon offers more than just historical pedigree and exploration upside. It is supported by a fully permitted and operating processing plant, a fully permitted mining lease and an existing decline that will allow both access for exploration and potential future production.

“It's a milestone for both the Maldon Gold Project and Kaiser to have jumbo development underway beneath Union Hill, establishing this new drill platform for exploration.”

— Brad Valiukas, Managing Director

The underground work aligns with the company's broader operational schedule at the project. Kaiser Reef operates the Porcupine Flat processing facility at Maldon, which successfully transitioned to two shifts in May 2026 to double plant throughput.

In addition to the underground advancement, Kaiser Reef plans to continue its 4,350-metre surface diamond drilling campaign across four targets at the Maldon Gold Project throughout the remainder of 2026.

Read the full announcement: Underground Development Commenced at Union Hill Gold Mine