Kesselrun Resources Provides Huronian Update
THUNDER BAY, ON, May 23, 2017 – Kesselrun Resources Ltd. (TSXV:KES) (“Kesselrun”) is pleased to provide the following update on its 100% owned Huronian Gold Project:
Structural and alteration mapping is ongoing on the Huronian Gold Project with a focus on the Moss SW zone, an interpreted extension of the geology that hosts the Moss Lake Gold Deposit located approximately 1.5 kilometres from the Huronian Gold Project’s property boundary. Significant grab sample results are summarized below.
Table 1: Summary of Significant Grab Sample Results – Huronian Project (1)
|
Sample ID |
Au (g/t) |
Ag (g/t) |
Easting (mE) |
Northing (mN) |
|
330689 |
6.87 |
51 |
663051 |
5374683 |
|
330691 |
6.11 |
38 |
663055 |
5374684 |
|
330687 |
5.81 |
3 |
662654 |
5374186 |
|
330688 |
5.71 |
32 |
663048 |
5374682 |
|
330659 |
5.10 |
23 |
663035 |
5374688 |
|
330658 |
2.21 |
9 |
663035 |
5374688 |
|
330657 |
2.17 |
5 |
663057 |
5374789 |
|
330711 |
1.76 |
1 |
663068 |
5374719 |
|
330673 |
1.69 |
9 |
663044 |
5374688 |
|
330669 |
1.27 |
4 |
661656 |
5378027 |
- Grab samples are selectively taken and random in size and may not be representative of mineralization characteristics
Michael Thompson, P.Geo., President and CEO commented, “The current work on the Huronian Gold Project continues to give us encouraging results and has added to our geological understanding of the mineralizing systems. Targeting is ongoing utilizing these results for eventual drill testing in the future with the goal of an NI 43-101 compliant resource estimate”.
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.
QA/QC
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 Accurassay Laboratories Ltd. of Thunder Bay, Ontario with ISO 17025 accreditation. Samples were transported in securely sealed bags to Accurassay and were then analyzed using industry-standard techniques. Gold was analyzed by a standard 30 gram fire assay with an AA and/or gravimetric finish.
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
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.