VANCOUVER, British Columbia, Nov. 29, 2022 (GLOBE NEWSWIRE) — Kesselrun Resources (TSXV:KES) (OTCQB:KSSRF) (FSE:CMG), a Thunder Bay, Ontario-based mineral exploration company, has released additional drill results on its Huronian Gold Project. Drilling on the McKellar Zone continues to intercept gold mineralization over significant widths and grades extending the zone by approximately 600 metres to the west, doubling the strike length of the zone to over 1200 metres.
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The 100% owned Huronian Project, located 100 kilometres west of Thunder Bay in a region of numerous multimillion-ounce development and advanced exploration projects, is one of two company properties, the other being its 100% owned Bluffpoint Project.
- Hole 22HUR178, which intercepted 4.6 g/t gold over 6.6 m including 48.0 g/t gold over 0.6 m within a 24.0 m interval which averaged 1.3 g/t gold,
- Hole 22HUR177, which intercepted 6.8 g/t gold over 1.0 m within a 27.5 m interval which averaged 0.4 g/t gold, and
- Hole 22HUR176, which intercepted 7.2 g/t gold over 1.0 m within a 12.1 m interval which averaged 0.7 g/t gold
Michael Thompson, P.Geo., President and CEO, stated: “Our belief that there remained tremendous potential in the underexplored two-kilometre strike extent to the west of the known McKellar Zone has now been proven. These latest drillholes have now extended the known gold mineralization to approximately 1200 metres. The team is looking forward to growing the known McKellar Zone as well as exploring the extensive strike length left to the west.”
The 2022 Huronian exploration program consists 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 2000 metre 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.
Drilling has been paused for the remainder of the season with approximately 13,000 metres completed this year. This will allow all outstanding assays to be received, compiled and interpreted enabling more effective drill targeting when drilling recommences.
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.
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. It is on strike from the adjacent Moss Lake Gold Project with an NI 43-101 complaint resource estimate of 4.17M oz Au at an average grade of 1.1 g/t Au in the inferred category. Again, management cautions that mineralization hosted on nearby properties is not necessarily indicative of mineralization hosted on Kesselrun Resources’ property.
The shares are trading at $0.07. 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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