Kesselrun Resources Announces 15.7 g/t Gold Grab on New Huronian Shear Zone
THUNDER BAY, ON, October 11, 2017 – Kesselrun Resources Ltd. (TSXV:KES) (“Kesselrun”) is pleased to provide the following update on its 100% owned Huronian Gold Project:
Prospecting and structural mapping of the newly interpreted extension of the Huronian Shear Zone has resulted in a grab sample assaying 15.7 g/t Au hosted in a quartz veined sheared volcanic rock.
As previously released (see KES NR September 26, 2017), a new interpretation of the location of the Huronian Shear Zone (see Figure 1.) has been interpreted by Kesselrun’s team. Kesselrun’s believes that previous operators interpreted extent of the Huronian Shear Zone was in fact one of numerous splays off the main shear zone.
Michael Thompson, P.Geo., President and CEO commented, “We are significantly pleased with this new discovery. The newly interpreted extension of the Huronian Zone opens up a great deal of prospective undrilled strike length. This zone, along with the Trench 2 and Fisher zone splays, makes a high priority target. Trenching crews have been mobilized to the area, the results of which will aid in drill targeting in the future”.
Table 1: Summary of Significant Grab Sample Results – Huronian Project (1)
|Sample ID||Easting (mE)||Northing (mN)||Au (g/t)|
- Grab samples are selectively taken and random in size and may not be representative of mineralization characteristics. UTM coordinates are in NAD83Z15
Kesselrun holds 4.7M First Mining Finance (TSX:FF) shares with a current value of over $3M as of market close yesterday which management believes gives the company sufficient means to implement its corporate strategy going forward.
The Huronian Gold Project consists of 154 unpatented mining claims and four patented mining claims for a total land package of 5,200 hectares. The project is situated in the highly prolific Shebandowan Greenstone Belt located in the Abitibi-Wawa Subprovince approximately 100 km west of Thunder Bay, Ontario along major transportation and power routes.
The project hosts numerous significant gold zones including the past producing Huronian Mine that produced 29,629 ounces gold and 170,463 ounces silver from 143,724 tons from 1932-1936 (Ontario Ministry of Northern Development and Mines Production Records). The project also covers the southwest strike extension of Wesdome Gold Mine’s Moss Lake Gold Deposit. The Moss Lake Gold Deposit hosts an NI 43-101 compliant resource estimate of 40 million tonnes at a grade of 1.1 g/t (1,377,300 oz Au) Indicated and an additional 50 million tonnes at a grade of 1.1 g/t (1,751,600 oz Au) Inferred (Moss Lake Gold Mines NR February 20, 2013) as well as an NI 43-101 compliant Preliminary Economic Assessment (Moss Lake Gold Mines NR July 29, 2013).
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.
Figure 1: Grab Sample Locations and Structural Interpretation – Huronian Project
Kesselrun has implemented a quality control program for the trench sampling and planned drill program to ensure best practice in sampling and analysis. The planning, execution and monitoring of Kesselrun's quality control programs are under the supervision of Michael Thompson, P. Geo. Kesselrun maintains strict quality assurance/quality control protocols including the systematic insertion of certified standard reference and blank materials into each sample batch. Analyses in this release were performed by Activation Laboratories Ltd. (Actlabs) of Thunder Bay, Ontario with ISO 17025 accreditation. Samples are transported in security sealed bags to Accurassay and all samples were analyzed using industry-standard techniques. Gold was analyzed by a standard 50 gram fire assay with an AAS and a gravimetric finish on samples greater than 5 g/t.
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 with particular experience 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
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.