Kesselrun drills one m of 18.6 g/t Au at Huronian

Oct 14, 2021

2021-10-14 06:56 ET – News Release

Mr. Michael Thompson reports

KESSELRUN EXPANDS SIZE OF FISHER ZONE WITH MULTIPLE HIGH-GRADE INTERCEPTS

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

Continued drilling of the Fisher zone has been successful in confirming the continuity of the mineralization between the two high-grade shoots thus connecting them into one larger mineralized zone. The Fisher zone has now been extended to approximately 400 metres in strike length and approximately 200 metres in depth. Further drilling will continue to infill as well as expanding the size of the zone in all directions.

Highlights:

21HUR082 intercepted 18.6 grams per tonne gold over 1.0 metre within a 3.6 m wide zone that averaged 6.0 g/t Au.
21HUR108 intercepted 16.2 g/t Au over 1.4 m within a 3.6 m wide zone that averaged 6.1 g/t Au.
21HUR112 intercepted 25.1 g/t Au over 0.6 m within a 4.9 m wide zone that averaged 5.5 g/t Au.

Michael Thompson, PGeo, president and chief executive officer of the company, commented: “Drilling on the Fisher zone is continuing to expand the footprint of gold mineralization both along strike and at depth. Earlier modelling suggested two separate high-grade shoots. Subsequent drilling and modelling has now revealed the continuity of gold mineralization between the two areas greatly expanding the Fisher zone size.”

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 wide zones of significant gold mineralization in light of the new revised mineralization model.

As of this news release approximately 16,750 metres have been drilled of which the results from approximately 10,750 metres of drilling have been released. Kesselrun is well financed to complete the budgeted 20,000-metre drill program.

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

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

21HUR080             199.6        216.7            17.1          0.9
                     200.2        200.8             0.6         11.8
21HUR081              19.2        107.0            87.8          0.3
                      19.2         22.0             2.8          1.0
21HUR082             157.3        195.0            37.7          0.9
                     186.5        190.1             3.6          6.0
                     186.5        187.5             1.0         18.6
21HUR083             217.8        218.3             0.5          9.9
21HUR084                                       no significant values
21HUR085             156.5        162.5             6.0          0.3
21HUR086             192.8        202.9            10.1          0.3
21HUR087             197.1        232.7            35.6          0.5
                     198.7        199.2             0.5          8.4
                     231.5        232.0             0.5          6.9
21HUR108 (2)         119.3        122.9             3.6          6.1
                     119.3        120.7             1.4         16.2
21HUR109 (2)                                   no significant values
21HUR110 (2)         159.8        169.1             9.3          1.2
                     168.0        168.5             0.5          8.7
21HUR111 (2)                         results pending for entire hole
21HUR112 (2)         165.6        170.5             4.9          5.5
                     169.9        170.5             0.6         25.1

(1) Widths are drill-indicated core lengths 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.
(2) Drill holes 21HUR108 through 112 were rushed and consequently 
results from significant portions of these holes are pending.

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 cmpany’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/