The Huronian Gold Project hosts the past producing Huronian Mine, Northwestern Ontario's first gold mine with an historic resource estimate of 44,592 oz gold at an average grade of 15.3 g/t gold in the indicated category, and 501,377 oz gold at an average grade of 14.4 g/t gold in the inferred category.
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I’m Ashton Addison for Investmentpitch Media
Kesselrun Resources, a Thunder Bay, Ontario-based mineral exploration company, has reported additional drill results on its Huronian Gold Project.
The 100% owned Huronian Project, located 100 kilometres west of Thunder Bay in a region of numerous multi-million-ounce development and advanced exploration projects, is one of two company properties, the other being the 100% owned Bluffpoint Project.
The Huronian Gold Project hosts the past producing Huronian Mine, Northwestern Ontario's first gold mine with an historic resource estimate of 44,592 oz gold at an average grade of 15.3 g/t gold in the indicated category, and 501,377 oz gold at an average grade of 14.4 g/t gold in the inferred category.
The resource was estimated by Minescape Exploration Inc. in 1998 and is historic in nature and is presented only for reference purposes as additional work is required to confirm the numbers.
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 from the 3 holes reported today from the Fisher Zone include hole 067 with 40.8 g/t gold over 1.6 metres including 204 g/t gold over 0.3 metres within a 10.4 metre wide zone which averaged 6.6 g/t gold.
Hole 068 with 15.8 g/t gold over 1.6 metres within a 4.6 metre wide zone which averaged 5.8 g/t gold.
And hole 069 with 26.4 g/t gold over 1.3 metres including 113 g/t gold over 0.3 metres within a 6.7 metre wide zone which averaged 6.4 g/t gold.
Visible gold is shown here from hole 069.
Michael Thompson, P.Geo., President and CEO, stated: "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. 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.
As of today, approximately 8000 metres have been drilled of which the results from approximately 3500 metres of drilling have been released.
For a summary of significant previously released drill intercepts please refer to the latest news release.
The area also has tremendous potential for discovery of new wide zones of significant gold mineralization in light of the new revised mineralization model.
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, as Wesdome Gold's adjacent Moss Lake Gold Deposit.
The Moss Lake Deposit has a resource estimate of 1,377,300 oz gold at an average grade of 1.1 g/t gold in the indicated category and 1,751,600 oz gold at an average grade of 1.1 g/t gold in the inferred category, as outlined in their Preliminary Economic Assessment in 2013.
In January, Wesdome announced that the Moss Lake Project would be purchased by Goldshore Resources Inc.
Again, management cautions that mineralization hosted on nearby properties is not necessarily indicative of mineralization hosted on Kesselrun Resources' property.
The shares are trading at $0.185.
For more information, please visit the company’s website at www.KesselrunResources.com, contact Michael Thompson, P.Geo., President and CEO, at 807-285-3323 or by email at michaelT@KesselrunResources.com or corporate communications at 866-416-7941 or email information@KesselrunResources.com.
I’m Ashton Addison for Investmentpitch Media
