Kesselrun drills 4.1 m of 16.2 g/t Au at Huronian

Mar 30, 2021

2021-03-30 06:51 ET – News Release

Mr. Michael Thompson reports

KESSELRUN INTERCEPTS 81.5 G/T AU OVER 0.6 M WITHIN 4.1 M ZONE AVERAGING 16.2 G/T AU

Kesselrun Resources Ltd. has provided the following update on its Huronian gold project.

The company continues to receive results from the 2021 drill program including the first results from the Huronian zone and further results from the Fisher zone.

Highlights:

Huronian zone potential shown with first results:
- 21HUR054 intercepted 81.5 grams per tonne gold over 0.6 metre within a 4.1 m wide zone, which assayed 16.2 g/t Au; 21HUR040 intercepted 0.6 m of open stope followed by 34.2 g/t Au over 0.5 m within a 2.9 m wide zone, which assayed 7.3 g/t Au.
Fisher zone extended along strike 100 metres to the east and 50 metres to the west:
- 21HUR039 intercepted 5.4 g/t Au over 1.5 m within a 21.0 m wide zone, which assayed 0.9 g/t Au; 21HUR042 intercepted 17.0 g/t Au over 0.9 m within a 3.3 m wide zone, which assayed 5.3 g/t Au.

Michael Thompson, PGeo, president and chief executive officer of the company, commented: “These first results from the Huronian zone have exceeded our expectations. The potential to outline remnant resources amongst the historic mine workings, we believe, has not only been verified but the veracity of the gold mineralizing system has fortified our belief in the potential of the Huronian zone down plunge and along strike.”

Mr. Thompson added: “Significant progress continues to be made on the Fisher zone with the strike extent increasing a combined 150 metres. We believe further drilling will continue to show the potential of the Fisher zone.”

         SUMMARY OF SIGNIFICANT DRILL INTERCEPTS -- HURONIAN PROJECT (1)

Hole ID                     From              To        Interval              Au
                             (m)             (m)             (m)           (g/t)

21HUR035                    25.0            66.9            41.9             0.7
                            27.9            29.9             2.0             4.4
21HUR036                    46.7            62.0            15.3             0.7
                            49.4            50.4             1.0             3.8
21HUR037                                                         results pending
21HUR038                                                         results pending
21HUR039                     2.3            23.3            21.0             0.9
                             7.2             8.9             1.7             5.4
21HUR040                    34.4            34.8             0.4             8.0
                           262.8           263.4             0.6           stope
                           263.4           266.3             2.9             7.3
                           263.4           263.9             0.5            34.2
21HUR041
21HUR042                    14.5            17.8             3.3             5.3
                            16.9            17.8             0.9            17.0
21HUR043 to 053                                                  results pending
21HUR054 (2)               115.4           119.5             4.1            16.2
                           115.4           116.0             0.6            81.5

(1) Widths are drill-indicated core length as insufficient drilling has been 
undertaken to determine true widths at this time. Average grades are calculated 
with uncapped gold assays as insufficient drilling has been completed to 
determine capping levels for higher-grade gold intercepts.
(2) Results are pending for the upper portions of 21HUR054. The Huronian zone 
samples were rushed.

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 1,500 m strike length in the area of the historic Huronian mine. The area also has tremendous potential for discovery of new zones in light of the new revised mineralization model.

About the Huronian Gold Project

The 100-per-cent-owned Huronian gold project hosts the formerly producing Huronian mine, Northwestern Ontario’s first gold mine with a historic resource estimate of 44,592 ounces gold at 15.3 grams per tonne gold in the indicated category and 501,377 oz Au at 14.4 g/t Au in the inferred category. The resource estimate presented for the Huronian project is historic in nature. Kesselrun Resources’ qualified person has not completed sufficient work to confirm the results of the historical resource. Kesselrun Resources is not treating this as a current mineral resource but is considering it relevant as a guide to future exploration and is included for reference purposes only. The historic resource was estimated by Minescape Exploration Inc. in 1998. Further drilling will be required by Kesselrun Resources to verify the historic estimate as current mineral resources.

As well, 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, on strike from Wesdome Gold’s adjacent Moss Lake gold deposit with a resource estimate of 1,377,300 oz Au at 1.1 g/t Au in the indicated category and 1,751,600 oz Au at 1.1 g/t Au in the inferred category as outlined in the 2013 PEA. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Kesselrun Resources’ property.

On Jan. 26, 2021 Wesdome announced that the Moss Lake project would be purchased by Goldshore Resources Inc. (see Wesdome and Goldshore news releases dated Jan. 26, 2021).

Qualified person

Mr. Thompson is the qualified person responsible for the project as defined by National Instrument 43-101 and has approved the technical information in this news release.

Quality assurance/quality control

Kesselrun has implemented a quality control program to comply with industry best practices for sampling, chain of custody and analyses. Certified gold reference standards, blanks and duplicates are inserted at the core processing site as part of the QA/QC program in addition to the control samples inserted by the lab. Samples are prepared and analyzed by Activation Laboratories in Thunder Bay. Samples are analyzed for gold using fire assay-AA (atomic absorption) techniques. Samples returning over 10 g/t gold are analyzed using fire assay-gravimetric methods. Selected samples are also analyzed with a standard one-kilogram metallic screen fire assay. All results reported herein have passed QA/QC protocols.

Health and safety

The health and safety of the company’s personnel and contractors are always top priority to Kesselrun. The current situation presents new challenges above and beyond what the company normally faces while working in the field. Kesselrun has implemented further measures to ensure the health and safety of all working on the company’s projects.

About Kesselrun Resources Ltd.

Kesselrun Resources is a mineral exploration company based in Thunder Bay, Ont., focused on growth through property acquisitions and discoveries. Kesselrun’s management team possesses strong geological and exploration expertise in Northwestern Ontario.

We seek Safe Harbor.

https://www.kesselrunresources.com/