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Thunder Bay, ON – October 21, 2020 – Kesselrun Resources Ltd. (TSXV:KES) (OTCPK: KSSRF), (“Kesselrun” or the “Company”) is pleased to provide the following update on its 100% owned Huronian Gold Project.
The Company reports further results from the Fisher Zone, one of four zones tested in the 2020 Huronian drill program. All results have now been received and assessed from the Fisher Zone drilling. Kesselrun has now extended the high-grade portion of the Fisher Zone to nearly 100 metres down plunge.
Highlights
- Wide zone of intense quartz veining, alteration and sulphides near surface assayed 8 g/t Au over 57.0 m including 15.7 g/t Au over 5.2 m and 52.3 g/t Au over 1.0 m in hole 20HUR003.
- Extends the core of the Fisher Zone in hole 20HUR002 with two separate sub zones assaying 2 g/t over 1.9 m and 9.9 g/t over 1.1 m within a broader zone which assayed 1.1 g/t Au over 57.5 m.
Figure 1: Schematic Longsection – Huronian Project – Fisher Zone
Michael Thompson, P.Geo., President and CEO of the Company, commented, “Our drilling on the Fisher Zone has demonstrated the continuity of the high-grade core. The data collected from this program has enabled us to better model the zone and target down plunge extensions of the known zone as well as new high-grade shoots along strike and down dip. The team is excited to test these targets in the next phase of drilling”.
The 2020 Huronian drill program targeted four zones; Fisher, Fisher North, McKellar and Huronian. The four zones are in close proximity along an approximate 1500 m strike length in the area of the historic Huronian Mine. The zones include multiple generations of quartz veins that carry high grade gold values in association with altered, sheared and variably mineralized mafic volcanics, feldspar-quartz porphyries and iron formation.
Previous operators have focused on the Fisher, Fisher North and McKellar Zones where drilling has been concentrated at near surface depths of 75 metres or less, while the Huronian Zone has been mostly unexplored since the closure of the mine in 1936. As a result, Kesselrun believes there to be significant upside potential on all zones.
Figure 2: Schematic Plan Map – Huronian Project
Table 1: Summary of Significant Drill Intercepts – Huronian Project – Fisher Zone (1)
| Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) |
| 20HUR001 | 126.0 | 134.8 | 8.8 | 1.5 |
| including | 132.0 | 133.7 | 1.7 | 4.6 |
| 20HUR002 | 4.4 | 61.9 | 57.5 | 1.1 |
| including | 6.3 | 11.0 | 4.7 | 6.5 |
| which includes | 6.3 | 8.2 | 1.9 | 9.2 |
| including | 57.0 | 61.9 | 4.9 | 2.9 |
| which includes | 60.0 | 61.9 | 1.9 | 6.0 |
| which includes | 60.8 | 61.9 | 1.1 | 9.9 |
| 20HUR003 | 6.0 | 63.0 | 57.0 | 1.8 |
| including | 6.0 | 20.0 | 14.0 | 6.5 |
| which includes | 7.0 | 14.0 | 7.0 | 12.6 |
| which includes | 7.0 | 12.2 | 5.2 | 15.7 |
| which includes | 7.0 | 9.5 | 2.5 | 26.0 |
| which includes | 7.0 | 8.0 | 1.0 | 52.3 |
| 20HUR004* | 12.0 | 57.1 | 45.1 | 6.2 |
| including | 15.6 | 31.1 | 15.5 | 14.6 |
| which includes | 15.6 | 20.5 | 4.9 | 42.1 |
| which includes | 18.3 | 20.5 | 2.2 | 79.9 |
| including | 40.4 | 42.7 | 2.3 | 7.6 |
| including | 53.4 | 56.2 | 2.8 | 6.1 |
| 20HUR005* | 31.7 | 76.0 | 44.3 | 0.6 |
| including | 70.0 | 76.0 | 6.0 | 2.1 |
| 20HUR006* | 14.0 | 17.6 | 3.6 | 3.1 |
| 20HUR007* | 18.1 | 26.0 | 7.9 | 2.2 |
| including | 20.8 | 25.3 | 4.5 | 3.6 |
| 20HUR008 | 72.0 | 79.5 | 7.5 | 0.6 |
| 20HUR009 | 77.6 | 82.9 | 5.3 | 0.5 |
| 20HUR010* | 61.0 | 81.2 | 20.2 | 0.6 |
| 20HUR011* | 74.0 | 87.0 | 13.0 | 2.9 |
| including | 74.0 | 74.7 | 0.7 | 21.8 |
| including | 83.2 | 85.4 | 2.2 | 9.3 |
| 20HUR012 | 30.5 | 46.0 | 15.5 | 0.5 |
(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 un-capped gold assays as insufficient drilling has been completed to determine capping levels for higher grade gold intercepts. * Previous news release October 7, 2020
About the Huronian Gold Project
The 100% owned Huronian Gold Project hosts the past producing Huronian Mine, Northwestern Ontario’s first gold mine with an historic resource estimate of 44,592 oz Au @ 15.3 g/t Au in the indicated category and 501,377 oz Au @ 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 (TSX:WDO) adjacent Moss Lake Gold Deposit with a resource estimate of 1,377,300 oz Au @ 1.1 g/t Au in the indicated category and 1,751,600 oz Au @ 1.1 g/t Au in the inferred category as outlined in their 2013 PEA2. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Kesselrun Resources’ property.
(2)Moss Lake Gold Mines (currently wholly owned subsidiary of Wesdome Gold) news releases February 20, 2013 and September 9, 2013.
Qualified Person
Michael Thompson, P.Geo., President and CEO of Kesselrun, 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.
QAQC
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 techniques. Samples returning over 10 g/t gold are analyzed using Fire Assay-Gravimetric methods. Selected samples are also analyzed with a standard 1 kg metallic screen fire assay. All results reported herein have passed QA/QC protocols.
Stock Options
The Company has granted 250,000 incentive stock options to a consultant to the Company. The stock options shall be exercisable at a price of $0.40 per share for a period of two years from the date of issue.
Health and Safety
The health and safety of our personnel and contractors is always top priority to Kesselrun. The current situation presents new challenges above and beyond what we normally face 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, Ontario-based mineral exploration company focused on growth through property acquisitions and discoveries. Kesselrun’s management team possesses strong geological and exploration expertise in Northwest Ontario. For more information about Kesselrun Resources, please visit www.kesselrunresources.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
For additional information please contact:
Kesselrun Resources Ltd.
Michael Thompson, P.Geo., President & CEO
807.285.3323
michaelt@kesselrunresources.com
Corporate Communications
1.866.416.7941 information@kesselrunresources.com
Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Kesselrun, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, dependence upon regulatory approvals, the execution of definitive documentation, the availability of financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
SOURCE: Kesselrun Resources Ltd.
Thunder Bay, ON – October 7, 2020 – Kesselrun Resources Ltd. (TSXV:KES) (OTCPK: KSSRF) (“Kesselrun” or the “Company”) is pleased to provide the following update on its Huronian Gold Project.
The Company has received initial results from the Fisher Zone, one of four zones tested in the 2020 Huronian drill program. The Fisher Zone has been outlined by historic work to be approximately 400 metres in strike length and 75 metres depth.
Highlights
- Wide zone of intense quartz veining, alteration and sulphides near surface assayed 2 g/t Au over 45.1 m with three discreet zones that assayed 42.1 g/t Au over 4.9 m, 7.6 g/t Au over 2.3 m and 6.1 g/t Au over 2.8 m in hole 20HUR004.
- Deepest intercept on the core of the Fisher Zone in hole 20HUR011 assayed 8 g/t over 0.7 m and 9.3 g/t over 2.2 m in a broader zone which overall assayed 2.9 g/t Au over 13.0 m.
- Multiple generations of quartz veins recognized indicating long-lived mineralizing gold system.
- Higher grade intercepts associated with lead and copper sulphides which is typical of the mineralization at the historically mined Huronian Zone.
Figure 1: Schematic Longsection – Huronian Project – Fisher Zone
Michael Thompson, P.Geo., President and CEO of the Company, commented, “The impressive width and grade along with the tenure of veining, alteration and mineralization indicates a robust system. As well, we have extended the higher-grade core to almost 100 metres vertical depth with the down plunge extent remaining untested. Our systematic approach to exploration puts Kesselrun in an exceptionally good position to aggressively advance the Huronian project”.
The 2020 Huronian drill program targeted four zones; Fisher, Fisher North, McKellar and Huronian. The four zones are in close proximity along an approximate 1500 m strike length in the area of the historic Huronian Mine. The zones include multiple generations of quartz veins that often carry higher gold values in association with altered, sheared and variably mineralized mafic volcanics, feldspar-quartz porphyries and iron formation.
Figure 2: Schematic Plan Map – Huronian Project
Table 1: Summary of Significant Drill Intercepts – Huronian Project – Fisher Zone (1)
| Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) |
| 20HUR004 | 12.0 | 57.1 | 45.1 | 6.2 |
| including | 15.6 | 31.1 | 15.5 | 14.6 |
| and including | 15.6 | 20.5 | 4.9 | 42.1 |
| and including | 18.3 | 20.5 | 2.2 | 79.9 |
| including | 40.4 | 42.7 | 2.3 | 7.6 |
| including | 53.4 | 56.2 | 2.8 | 6.1 |
| 20HUR005 | 31.7 | 76.0 | 44.3 | 0.6 |
| including | 70.0 | 76.0 | 6.0 | 2.1 |
| 20HUR006 | 14.0 | 17.6 | 3.6 | 3.1 |
| 20HUR007 | 18.1 | 26.0 | 7.9 | 2.2 |
| including | 20.8 | 25.3 | 4.5 | 3.6 |
| 20HUR010 | 61.0 | 81.2 | 20.2 | 0.6 |
| 20HUR011 | 74.0 | 87.0 | 13.0 | 2.9 |
| including | 74.0 | 74.7 | 0.7 | 21.8 |
| including | 83.2 | 85.4 | 2.2 | 9.3 |
(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 un-capped gold assays as insufficient drilling has been completed to determine capping levels for higher grade gold intercepts.
About the Huronian Gold Project
The 100% owned Huronian Gold Project hosts the past producing Huronian Mine, Northwestern Ontario’s first gold mine with an historic resource estimate of 44,592 oz Au @ 15.3 g/t Au in the indicated category and 501,377 oz Au @ 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 (TSX:WDO) adjacent Moss Lake Gold Deposit with a resource estimate of 1,377,300 oz Au @ 1.1 g/t Au in the indicated category and 1,751,600 oz Au @ 1.1 g/t Au in the inferred category as outlined in their 2013 PEA2. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicitave of mineralization hosted on Kesselrun Resources’ property.
(2)Moss Lake Gold Mines (currently wholly owned subsidiary of Wesdome Gold) news releases February 20, 2013 and September 9, 2013.
Qualified Person
Michael Thompson, P.Geo., President and CEO of Kesselrun, 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.
QAQC
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 techniques. Samples returning over 10 g/t gold are analyzed using Fire Assay-Gravimetric methods. Selected samples are also analyzed with a standard 1 kg metallic screen fire assay. All results reported herein have passed QA/QC protocols.
Health and Safety
The health and safety of our personnel and contractors is always top priority to Kesselrun. The current situation presents new challenges above and beyond what we normally face 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, Ontario-based mineral exploration company focused on growth through property acquisitions and discoveries. Kesselrun’s management team possesses strong geological and exploration expertise in Northwest Ontario. For more information about Kesselrun Resources, please visit www.kesselrunresources.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Kesselrun, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, dependence upon regulatory approvals, the execution of definitive documentation, the availability of financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
For additional information please contact:
Kesselrun Resources Ltd.
Michael Thompson, P.Geo., President & CEO
807.285.3323
michaelt@kesselrunresources.com
Corporate Communications
1.866.416.7941 information@kesselrunresources.com
Source: Kesselrun Resources Ltd.
Thunder Bay, ON – September 3, 2020 – Kesselrun Resources Ltd. (TSXV: KES) (OTCPK: KSSRF) (“Kesselrun” or the “Company”) is pleased to announce that drilling has been extended at its Huronian Gold Project.
The original planned drill program consisted of a total of 2,500 metres and management has decided to extend the program for a total of a minimum of 3,000 metres.
Drilling is focusing on the Fisher, Fisher North and McKellar zones, as well as the historically mined Huronian zone, with the goal of testing newly interpreted structural components and controls on gold mineralization. All the zones are proximal to the historically mined Huronian zone, no farther than 400 metres along strike.
Michael Thompson, P.Geo., President and CEO of the Company, commented, “The visuals of the drill core, although preliminary in nature, have given us the confidence to commit to extending the scope of the current drill program.”
About the Huronian Gold Project
The 100% owned Huronian Gold Project hosts the past producing Huronian Mine, Northwestern Ontario’s first gold mine with an historic resource estimate of 44,592 oz Au @ 15.3 g/t Au in the indicated category and 501,377 oz Au @ 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 @ 1.1 g/t Au in the indicated category and 1,751,600 oz Au @ 1.1 g/t Au in the inferred category as outlined in their 2013 PEA1. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Kesselrun Resources’ property.
Qualified Person
Michael Thompson, P.Geo., President and CEO of Kesselrun, 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.
Health and Safety
The health and safety of our personnel and contractors is always top priority to Kesselrun. The current situation presents new challenges above and beyond what we normally face while working in the field. Kesselrun has implemented further measures to minimize the risk due to the current situation and ensure the health and safety of all working on the Company’s projects.
About Kesselrun Resources Ltd.
Kesselrun Resources is a Thunder Bay, Ontario-based mineral exploration company focused on growth through property acquisitions and discoveries. Kesselrun’s management team possesses strong geological and exploration expertise in Northwest Ontario. For more information about Kesselrun Resources, please visit www.kesselrunresources.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
For additional information please contact:
Kesselrun Resources Ltd.
Michael Thompson, P.Geo., President & CEO
807.285.3323
michaelt@kesselrunresources.com
Corporate Communications
1.866.416.7941
information@kesselrunresources.com
Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Kesselrun, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, dependence upon regulatory approvals, the execution of definitive documentation, the availability of financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
1Moss Lake Gold Mines (currently wholly owned subsidiary of Wesdome Gold) news releases February 20, 2013 and September 9, 2013.
Source: Kesselrun Resources Ltd.
About Kesselrun Resources
Kesselrun Resources Ltd. is a Thunder Bay, Ontario-based mineral exploration company focused on growth through property acquisitions and discoveries. Kesselrun’s management team possesses strong geological and exploration experience with particular expertise in Northwestern Ontario, an emerging prolific gold district.
Michael Thompson, P. Geo., President and CEO of Kesselrun, is the Qualified Person for Kesselrun as defined by National Instrument 43-101 and has approved the technical information presented herein.
PROJECTS
NORTHWESTERN ONTARIO – AN EMERGING GOLD DISTRICT
Geology
>> Production & development stage gold projects
Jurisdiction
>> favourable environment for mining development
Infrastructure
>> highways & road network; labour; natural gas pipeline; electrical transmission network
TEAM
Michael Thompson, P.Geo – Director, President and CEO
Mr. Thompson is a founding partner of Fladgate Exploration Consulting Corporation of Thunder Bay, Ontario, the largest, full service, mineral exploration consulting firm in Northwestern Ontario. With over 20 years of mineral exploration experience, Mr. Thompson specializes in structural interpretation of gold deposits and has both gold and base metal exploration experience with Teck Resources, Placer Dome and Goldcorp. He holds an Honours B.Sc. in Geology from the University of Toronto and is a professional geologist in good standing registered in Ontario. Mr. Thompson also sits on the board of Red Metal Resources Ltd.
Caitlin Jeffs, P.Geo – Director
Ms. Jeffs is a founding partner of Fladgate Exploration Consulting Corporation of Thunder Bay, Ontario, the largest, full service, mineral exploration consulting firm in Northwestern Ontario. She has over 15 years of mineral exploration experience in gold and base metal exploration with junior and major resource companies including Placer Dome and Goldcorp. Ms. Jeffs is also president and director of Red Metal Resources Ltd. and holds an Honours B.Sc. in Geology from the University of British Columbia and is a professional geologist in good standing registered in Ontario.
Yana Silina, CPA, CMA – Director
Ms. Silina is an accountant with Vancouver, BC-based financial management firm Da Costa Management Corp, a management and consulting company that provides bookkeeping, accounting and regulatory compliance services to both publicly traded and private companies in Canada and the US. Ms. Silina has over 15 years of experience and currently serves as the CFO, Treasurer and Secretary of Cell MedX Corp., an early development stage company with its main focus on the discovery, development and commercialization of therapeutic products for patients with diseases such as diabetes. Previously, Ms. Silina was CFO of Enfield Exploration Corp., a mineral exploration company listed on the CSE. Ms. Silina holds a Diploma in Accounting.
John Da Costa – Director, CFO
Mr. Da Costa is President and founding partner of Vancouver, BC-based financial management firm Da Costa Management Corp, a management and consulting company that provides bookkeeping, accounting and regulatory compliance services to both publicly traded and private companies in Canada and the US. Mr. Da Costa specializes in corporate strategy and strategic growth planning and has assisted dozens of private start-ups through the transition into medium-sized public companies. Mr. Da Costa is also CFO of Red Metal Resources Ltd.
Source: http://www.kesselrunresources.com/
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