Kesselrun drills 44.8 m of 0.8 g/t Au at Huronian

Jan 20, 2022

2022-01-20 06:55 ET – News Release

Mr. Michael Thompson reports

KESSELRUN CONTINUES EXPANDING MCKELLAR ZONE, 2ND DRILL RIG TO BE PROCURED

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

Drilling of the McKellar zone continues to expand the footprint of the zone along strike and at depth as well as continuing to follow up with infill drilling. The zone is now well defined for nearly 600 metres of strike length and to a downdip depth of 150 metres. Drilling to the west has shown the potential for at least another 200 metres of extension. Two thousand twenty-two drilling will aim at proving up that potential at a minimum as well as further extending the zone downdip.

Highlights:

21HUR126 intercepted 0.8 gram per tonne gold over 44.8 metres, including 2.5 m, which averaged 3.5 g/t Au.
21HUR125 intercepted 0.9 g/t Au over 15.4 m within a 97.8 m wide zone, which averaged 0.3 g/t Au.
21HUR124 intercepted 0.8 g/t Au over 10.5 m within a 19.4 m wide zone, which averaged 0.5 g/t Au.

Michael Thompson, PGeo, president and chief executive officer of the company, commented: “Drilling on McKellar has shown that the zone consists of a wide gold-mineralizing and -altered shear zone comprised of multiple high-grade shoots. Our limited drilling targeting the western extension of the McKellar revealed a previously uninterpreted jog or fault resulting in one hole, 094, collaring within the zone and the next three holes drilling through the hangingwall to McKellar. We remain convinced of the potential of significant strike potential of the McKellar zone to the west. As we begin our 2022 drilling, we will continue working towards the goal of giving clarity on the resource potential of all the zones.”

2021 Huronian drilling

The 2021 Huronian drill program was completed with approximately 19,750 metres drilled of which the results from approximately 15,750 metres of drilling have been released.

2022 Huronian exploration program

The 2022 Huronian exploration program will consist of drilling as well as geophysics over selected target areas. Drilling will be 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. As well, the geology on strike to the southwest of Goldshore Resources’ Moss Lake deposit will be targeted. A second drill rig is currently in the process of being procured for the increased drilling activity anticipated in 2022.

    SUMMARY OF SIGNIFICANT DRILL INTERCEPTS -- CURRENT NEWS RELEASE (1)

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

21HUR094              2.0            23.0            21.0             0.5
                     19.4            19.9             0.5             4.8
21HUR095                                            no significant values
21HUR096             13.2            17.3             4.1             0.5
21HUR097                                            no significant values
21HUR098             62.9            97.5            34.6             0.3
21HUR099             48.1            59.9            11.8             0.3
21HUR122             lost                      hole redrilled as 21HUR123
21HUR123            107.0           112.0             5.0             0.8
                    141.4           144.5             3.1             0.8
21HUR124             79.9            99.3            19.4             0.5
                     87.4            97.9            10.5             0.8
                     94.4            95.4             1.0             6.0
21HUR125             18.2           116.0            97.8             0.3
                     18.2            33.6            15.4             0.9
                     18.2            19.0             0.8             4.2
                     33.0            33.6             0.6             3.2
                     73.5            74.5             1.0             2.5
21HUR126             17.5            62.3            44.8             0.8
                     17.5            19.7             2.2             2.9
                     49.7            52.1             2.4             2.0
                     59.8            62.3             2.5             3.5

(1) Widths are drill indicated core length as insufficient drilling has 
been undertaken to determine true widths with 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.

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 Au at an average grade of 15.3 g/t Au in the indicated category and 501,377 oz Au at an average grade of 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 an average grade of 1.1 g/t Au in the indicated category and 1,751,600 oz Au at an average grade of 1.1 g/t Au in the inferred category as outlined in its 2013 preliminary economic assessment. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Kesselrun Resources’ property.

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 Thunder Bay-based mineral exploration company 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/