Kesselrun Extends McKellar Zone Depth With 5.8 Metres of 7.2 g/t Au Within a 67.8 Metre Zone Averaging 1.6 g/t Au

ID: 1566931
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(businesspress24) -
THUNDER BAY, ON, May 10, 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.

The first set of holes drilled on the McKellar Zone in 2021 program has been successful in extending the mineralized shoot to over 75 metres in vertical depth with multiple high-grade zones over significant widths within a wider zone of significant gold mineralization.

Highlights
- 21HUR056 intercepted 7.2 g/t Au over 5.8 m, 3.3 g/t Au over 5.3 m and 4.7 g/t Au over 3.1 m all within a 67.8 m wide zone which averaged 1.6 g/t Au
- 21HUR057 intercepted 5.5 g/t Au over 4.7 m within a 23.0 m wide zone which averaged 1.4 g/t Au
https://www.irw-press.at/prcom/images/messages/2021/58269/20210510_KES_HuronianDrilling_PRcom.001.jpeg

Figure 1: Schematic Longsection - McKellar Zone

Michael Thompson, P.Geo., President and CEO of the Company, commented, These initial holes on McKellar in 2021 have confirmed the model developed after last years drilling. The next phase of drilling at McKellar will focus on outlining further high-grade shoots and extending mineralization down plunge.

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. As of this news release approximately 6500 metres has been drilled of which 2750 metres of drilling results have been released. The area also has tremendous potential for discovery of new wide zones of significant gold mineralization in light of the new revised mineralization model.
https://www.irw-press.at/prcom/images/messages/2021/58269/20210510_KES_HuronianDrilling_PRcom.002.jpeg

Figure 2: Schematic Plan Map - Huronian Project

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


Hole ID Zone From (m)To (m) IntervalAu
(m) (g/t)

21HUR056 McKellar17.7 85.5 67.8 1.6
includin18.0 19.8 1.8 5.2
g

includin43.9 85.5 41.6 2.2
g

and 63.7 66.8 3.1 4.7
includi
ng

and 72.7 78.0 5.3 3.3
includi
ng

and 79.7 85.5 5.8 7.2
includi
ng

and 79.7 83.3 3.6 9.0
includi
ng

21HUR057 McKellar13.9 36.9 23.0 1.4
includin31.7 36.4 4.7 5.5
g

21HUR058 McKellar82.7 83.0 0.3 5.4


83.0 stope
21HUR059 McKellar87.0 105.6 18.6 1.1
includin90.0 91.0 1.0 7.7
g

includin93.6 94.6 1.0 6.3
g

Table 2: Summary of Significant Drill Intercepts - 2021 Huronian Project (1)
Hole ID Zone From (m)To (m) IntervalAu
(m) (g/t)

21HUR030 Fisher 10.6 51.8 41.2 1.4
includin33.0 43.3 10.3 4.7
g

and 33.0 34.0 1.0 14.8
includi
ng

21HUR031 Fisher 21.5 44.2 22.7 2.1
includin28.0 33.8 5.8 6.8
g

and 30.0 31.0 1.0 30.4
includi
ng

21HUR032 Fisher 25.1 56.6 31.5 1.9
includin25.1 29.7 4.6 5.6
g

and 25.4 28.7 3.3 6.2
includi
ng

includin46.2 50.1 3.9 4.5
g

and 49.2 50.1 0.9 14.3
includi
ng

21HUR033 Fisher 22.6 30.2 7.6 1.4
21HUR034 Fisher 23.8 65.9 42.1 1.9
includin23.8 27.6 3.8 5.8
g

and 23.8 24.6 0.8 16.7
includi
ng

includin52.6 56.5 3.9 7.0
g

and 52.6 54.0 1.4 13.3
includi
ng

21HUR035 Fisher 25.0 66.9 41.9 0.7
includin27.9 29.9 2.0 4.4
g

21HUR036 Fisher 46.7 62.0 15.3 0.7
includin49.4 50.4 1.0 3.8
g

21HUR037 Fisher 114.0 117.5 3.5 15.6
includin117.0 117.5 0.5 99.0
g

21HUR038 Fisher 91.3 92.2 0.9 2.5
21HUR039 Fisher 2.3 23.3 21.0 0.9
includin7.2 8.9 1.7 5.4
g

21HUR040 Fisher 34.4 34.8 0.4 8.0
Huronian262.8 263.4 0.6 stope
Huronian263.4 266.3 2.9 7.3
includin263.4 263.9 0.5 34.2
g

21HUR041 lost hole
21HUR042 Fisher 14.5 17.8 3.3 5.3
includin16.9 17.8 0.9 17.0
g

21HUR043 nsv
21HUR044 Fisher 92.4 108.5 16.1 1.1
includin103.0 104.0 1.0 5.8
g

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 & 053 results pending
21HUR054 Huronian115.4 119.5 4.1 16.2
includin115.4 116.0 0.6 81.5
g

21HUR055 results pending

(1) Widths are drill indicated core length as insufficient drilling has been undertaken to determine true widths at this time. 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 Ontarios 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 Golds 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.

(2)Moss Lake Gold Mines (currently wholly owned subsidiary of Wesdome Gold) news releases February 20, 2013 and September 9, 2013.

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).

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.

QAQC

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 Companys 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
807.285.3323
michaelt(at)kesselrunresources.com

Corporate Communications
1.866.416.7941 information(at)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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Date: 05/10/2021 - 02:03
Language: English
News-ID 1566931
Character count: 8833
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Firma: Kesselrun Resources Ltd.
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