Kesselrun Resources Announces Results of UAV Magnetic Survey
Kesselrun Resources Announces Results of UAV Magnetic Survey
THUNDER BAY, ON, September 26, 2017 – Kesselrun Resources Ltd. (TSXV:KES) (“Kesselrun”) is pleased to provide the following update on its 100% owned Huronian Gold Project:
An extensive multi-disciplinary program initiated earlier this summer has resulted in a new interpretation on part of the Huronian Gold Project. The program consists of ongoing prospecting, and structural mapping guided by an Umanned Aerial Vehicle (“UAV”) magnetic gradiometry survey over the target area.
The results of the UAV magnetic survey have led to a new interpretation of the location of the Huronian Shear Zone which differs from previous operators. Kesselrun’s team 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 very excited with this new interpretation, the implications of which are that the strike extent of the past producing Huronian Mine geology has been untested. This, along with adjacent zones, makes a highly desirable target for drill testing with the goal of an eventual NI 43-101 compliant resource estimate”.
The UAV Magnetic Survey was performed as part of Callum Walter’s M.A.Sc. research at Queen’s University’s Department of Geological Sciences and Geological Engineering in conjunction with industry research partner Sumac Geomatics Inc. of Thunder Bay. Callum’s research focuses on designing and optimizing 3-D magnetic gradiometry surveys for UAV platforms. Kesselrun would like to thank Callum, Queen’s and Sumac for their important contributions to advancing the Huronian Gold project.
Kesselrun also holds 4.7M First Mining Finance (TSX:FF) shares with a current value of over $3M as of market close yesterday.
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.
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.,
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 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.