Kesselrun Resources Ltd.
Kesselrun Discovers Second High-Grade Shoot with Visible Gold on the Fisher Zone
THUNDER BAY, ON, June 2, 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.
Drilling on the Fisher Zone has outlined a second high-grade shoot approximately 100 metres on strike to the southwest of the previously identified high-grade shoot. This significant discovery shows the potential for the Fisher zone to host multiple high-grade shoots in what is continually proving to be a vibrant gold mineralizing system
Highlights
- 21HUR067 - 40.8 g/t Au over 1.6 m including 204 g/t Au over 0.3 m within a 10.4 m wide zone which averaged 6.6 g/t Au
- 21HUR068 - 15.8 g/t Au over 1.6 m within a 4.6 m wide zone which averaged 5.8 g/t Au
- 21HUR069 - 26.4 g/t Au over 1.3 m including 113 g/t Au over 0.3 m within a 6.7 m wide zone which averaged 6.4 g/t Au
Figure 1: Schematic Long Section – Fisher Zone
Figure 2: Visible Gold 21HUR069 @ 142.7 m (left) and 142.9 m (right) – Fisher Zone
Michael Thompson, P.Geo., President and CEO of the Company, commented, “Continued evaluation and modeling of the Fisher Zone outlined the potential of a second high-grade structure to the southwest of the main high-grade shoot. Although initial testing of this target in previous drilling did not intercept significant gold grades, the team remained convinced of the target potential. Follow up drilling confirmed the existence of the modelled high-grade shoot proving the validity of our mineralization model. This significant discovery, with multiple multi-ounce visible gold intercepts, is a game changer for the Fisher Zone showing the potential for multiple high-grade shoots along strike as well as the potential for similar multiple high-grade shoots in all the known zones and zones yet to be discovered.”
Michael further commented, “For the next phase of Fisher drilling, we plan on testing the down plunge extents of all the known and modelled high-grade shoots. We also plan on testing the relationship between the high-grade shoots on the Fisher Zone which I believe will be crucial in unlocking the full potential of this zone.”
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 8000 metres has been drilled of which the results from approximately 3500 metres of drilling have been released.
Figure 3: Schematic Plan Map – Huronian 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 Wesdome Gold’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.
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.
Source: https://www.kesselrunresources.com/news/2021/kesselrun-discovers-second-high-grade-shoot-with-visible-gold-on-the-fisher-zone
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