Kesselrun Extends Main Huronian Mineralization Down Plunge

Kesselrun Extends Main Huronian Mineralization Down Plunge

THUNDER BAY, ON, July 8th, 2021 – Kesselrun Resources Ltd. (TSXV:KES; OTCPK:KSSRF) (“Kesselrun” or the “Company”) is pleased to provide the following drilling results on its Huronian Gold Project.

Continued drilling of the Huronian zone has been successful in confirming the continuity of the mineralized structure as well as proving its potential down plunge. In particular, hole 21HUR070, shown below, was drilled in the area of the mine where development ore reportedly averaged 78 g/t gold. Hole 21HUR070 intercepted a comparably high grade over a narrow width within a wider, three metre intercept of 13.6 g/t gold. Further drilling is planned down plunge of the workings and this intercept.


Figure 1: Schematic Long section – Huronian Zone

Figure 2: Schematic Cross section – Huronian Zone

Michael Thompson, P.Geo., President and CEO of the Company, commented, “As we continue to drill the Huronian structure, we are getting an exciting first-hand look at what was mined nearly 100 years ago.  We are now able to confidently and readily identify the gold bearing structures at Huronian which has helped us generate potential targets by applying these observations elsewhere on the property. This initial phase of drilling into the old mine has confirmed that the main zone is continuous for a considerable length and is still present where historic mining ended. It has also confirmed the presence of remnant mineralization in previously mined out areas as well as mineralized off-shoot structures at depth.  In the next phase of drilling, we plan on testing the depth extents of the main structure and we will continue to explore the possibility of multiple ore shoots.” 

The 2021 Huronian drill program is budgeted at 20,000 metres targeting the Fisher, Fisher North, McKellar and Huronian zones, all in close proximity along an approximate 1500 m strike length in the area of the historic Huronian Mine. The area also has tremendous potential for discovery of new wide zones of significant gold mineralization in light of the new revised mineralization model.

As of this news release approximately 12,000 metres has been drilled of which 6,250 metres of drilling results have been released.

Figure 3: Schematic Plan Map – Huronian Project

Table 1: Summary of Significant Drill Intercepts – Current News Release (1)

Hole ID Zone From (m) To (m) Interval (m) Au (g/t)
21HUR063 Huronian 311.0 311.9 0.9 12.9
21HUR066 Huronian 192.5 194.4 1.9 10.5
  including 193.0 193.9 0.9 22.0
21HUR070 Huronian 381.0 384 3.0 13.6
  including 382.7 383.6 0.9 41.8
21HUR075 Huronian 386.9 407.8 20.9 1.0
  including 392.5 393.1 0.6 12.6

Table 2: Summary of Significant Drill Intercepts – 2021 Huronian Project (1)

Hole ID Zone From (m) To (m) Interval (m) Au (g/t)
21HUR030 Fisher 10.6 51.8 41.2 1.4
  including 33.0 43.3 10.3 4.7
  and including 33.0 34.0 1.0 14.8
21HUR031 Fisher 21.5 44.2 22.7 2.1
  including 28.0 33.8 5.8 6.8
  and including 30.0 31.0 1.0 30.4
21HUR032 Fisher 25.1 56.6 31.5 1.9
  including 25.1 29.7 4.6 5.6
  and including 25.4 28.7 3.3 6.2
  including 46.2 50.1 3.9 4.5
  and including 49.2 50.1 0.9 14.3
21HUR033 Fisher 22.6 30.2 7.6 1.4
21HUR034 Fisher 23.8 65.9 42.1 1.9
  including 23.8 27.6 3.8 5.8
  and including 23.8 24.6 0.8 16.7
  including 52.6 56.5 3.9 7.0
  and including 52.6 54.0 1.4 13.3
21HUR035 Fisher 25.0 66.9 41.9 0.7
  including 27.9 29.9 2.0 4.4
21HUR036 Fisher 46.7 62.0 15.3 0.7
  including 49.4 50.4 1.0 3.8
21HUR037 Fisher 114.0 117.5 3.5 15.6
  including 117.0 117.5 0.5 99.0
21HUR038 Fisher 91.3 92.2 0.9 2.5
21HUR039 Fisher 2.3 23.3 21.0 0.9
  including 7.2 8.9 1.7 5.4
21HUR040 Fisher 34.4 34.8 0.4 8.0
  Huronian 262.8 263.4 0.6 stope
  Huronian 263.4 266.3 2.9 7.3
  including 263.4 263.9 0.5 34.2
21HUR041      lost hole
21HUR042 Fisher 14.5 17.8 3.3 5.3
  including 16.9 17.8 0.9 17.0
21HUR043      no significant values
21HUR044 Fisher 92.4 108.5 16.1 1.1
  including 103.0 104.0 1.0 5.8
21HUR045 Fisher 90.4 91.0 0.6 5.9
21HUR046 Fisher 70.4 71.4 1.0 2.9
21HUR047 Fisher N      nsv
21HUR048 Fisher N      lost hole - redrilled as 049
21HUR049 Fisher N      nsv
21HUR050 Huronian      lost hole - redrilled as 051
21HUR051 Huronian      hit stope
21HUR052 Huronian      hit stope
21HUR053 Huronian 75.7 77.5 1.8 2.4
21HUR054 Huronian 115.4 119.5 4.1 16.2
  including 115.4 116.0 0.6 81.5
21HUR055 Huronian      nsv
21HUR056 McKellar 17.7 85.5 67.8 1.6
  including 18.0 19.8 1.8 5.2
  including 43.9 85.5 41.6 2.2
  and including 63.7 66.8 3.1 4.7
  and including 72.7 78.0 5.3 3.3
  and including 79.7 85.5 5.8 7.2
  and including 79.7 83.3 3.6 9.0
21HUR057 McKellar 13.9 36.9 23.0 1.4
  including 31.7 36.4 4.7 5.5
21HUR058 McKellar 82.7 83.0 0.3 5.4
    83.0      stope
21HUR059 McKellar 87.0 105.6 18.6 1.1
  including 90.0 91.0 1.0 7.7
  including 93.6 94.6 1.0 6.3
21HUR061 Huronian     hit stope
21HUR062 Huronian 179.1 182.3 3.2 1.9
    182.3      stope
  1. Widths are drill indicated core length as insufficient drilling has been undertaken to determine true widths at this time on the Fisher and McKellar Zones. The Huronian Zone true widths are estimated to be 80% to 90% of the reported widths. 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 at an average grade of 15.3 g/t Au in the indicated category and 501,377 oz Au at an average grade of 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 Goldshore Resources Inc.’s adjacent Moss Lake Gold Deposit with a resource estimate of 1,377,300 oz Au at an average grade of 1.1 g/t Au in the indicated category and 1,751,600 oz Au at an average grade of 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.

On January 26, 2021 Wesdome announced that the Moss Lake Project would be purchased by Goldshore Resources Inc. (see Wesdome and Goldshore news releases dated January 26, 2021).

  1. Moss Lake Gold Mines 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.


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.

For additional information please contact:

Kesselrun Resources Ltd.

Michael Thompson, P.Geo., President & CEO



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.

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