Vancouver, British Columbia–(Newsfile Corp. – June 11, 2021) – Kesselrun Resources (TSXV: KES) (OTC Pink: KSSRF), a Thunder Bay, Ontario-based mineral exploration company, has reported additional drill results on its Huronian Gold Project. The 100% owned Huronian Project, located 100 kilometres west of Thunder Bay in a region of numerous multi-million-ounce development and advanced exploration projects, is one of two company properties, the other being the 100% owned Bluffpoint Project.
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The Huronian Gold Project hosts the past producing Huronian Mine, Northwestern Ontario’s first gold mine with an historic resource estimate of 44,592 oz gold at an average grade of 15.3 g/t gold in the indicated category, and 501,377 oz gold at an average grade of 14.4 g/t gold in the inferred category. The resource was estimated by Minescape Exploration Inc. in 1998 and is historic in nature and is presented only for reference purposes as additional work is required to confirm the numbers.
Drilling on the McKellar Zone intercepted significant gold mineralization approximately 200 metres along strike from the earlier Kesselrun drilling, with the single hole reported today from this area showing 113.7 g/t gold over 1.9 metres within a 7.3 metre wide zone which averaged 30.3 g/t gold starting at 92 metres. Historic drilling by previous operators identified the main shear zone for over 1000 metres along strike to the southwest but failed to intersect the Huronian type high-grade structures on a consistent basis. Today’s results confirm a new mineralization model that shows potential for more than 1,000 metres of strike extent to the southwest which suggests historic drilling was oriented sub-parallel to those high-grade structures.
Michael Thompson, P.Geo., President and CEO, stated: “Historic work along strike to the southwest for over 1000 metres, along with our new interpretation and drilling direction, gives us the confidence to continue our exploration efforts both down plunge and along strike and begin to show the full potential of this zone. It is exciting to see our hard work producing the kind of results we always knew this property had the potential for. We are confident we will continue see this kind of success in all Huronian property zones.”
Last week, the company reported that drilling on the Fisher Zone outlined a second high-grade shoot approximately 100 metres on strike to the southwest of the previously identified high-grade shoot. This significant discovery showed the potential for the Fisher Zone to host multiple high-grade shoots in what is continually proving to be a vibrant gold mineralizing system.
The 2021 Huronian drill program is budgeted at 20,000 metres targeting the Fisher, Fisher North, McKellar and Huronian zones, all in close proximity along an approximate 1500 m strike length in the area of the historic Huronian Mine. As of today, approximately 8500 metres have been drilled of which the results from approximately 3650 metres of drilling have been released. For a summary of significant previously released drill intercepts please refer to the latest news release.
The area also has tremendous potential for discovery of new wide zones of significant gold mineralization in light of the new revised mineralization model. The Huronian Gold Project hosts the same lithological package of rocks, as interpreted from both Government of Ontario and Kesselrun Resources’ mapping, compilation and modelling, as Wesdome Gold’s adjacent Moss Lake Gold Deposit. The Moss Lake Deposit has a resource estimate of 1,377,300 oz gold at an average grade of 1.1 g/t gold in the indicated category and 1,751,600 oz gold at an average grade of 1.1 g/t gold in the inferred category, as outlined in their Preliminary Economic Assessment in 2013. In January, Wesdome announced that the Moss Lake Project would be purchased by Goldshore Resources Inc.
Again, management cautions that mineralization hosted on nearby properties is not necessarily indicative of mineralization hosted on Kesselrun Resources’ property.
For more information, please visit the company’s website at www.KesselrunResources.com, contact Michael Thompson, P.Geo., President and CEO, at 807-285-3323 or by email at [email protected] or corporate communications at 866-416-7941 or email [email protected].
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