Kesselrun Doubles McKellar Zone Strike Length

Thunder Bay, Ontario--(Newsfile Corp. - November 28, 2022) - Kesselrun Resources Ltd. (TSXV: KES) (OTCQB: KSSRF) ("Kesselrun" or the "Company") is pleased to provide further drilling results on its 100% owned Huronian Gold Project.

Drilling on the McKellar Zone continues to intercept gold mineralization over significant widths and grades extending the zone by approximately 600 metres to the west, doubling the strike length of the zone to over 1200 metres.

Highlights

  • 22HUR178 intercepted 4.6 g/t over 6.6 m including 48.0 g/t Au over 0.6 m within a 24.0 m interval which averaged 1.3 g/t Au

  • 22HUR177 intercepted 6.8 g/t Au over 1.0 m within a 27.5 m interval which averaged 0.4 g/t Au

  • 22HUR176 intercepted 7.2 g/t Au over 1.0 m within a 12.1 m interval which averaged 0.7 g/t Au

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Figure 1: Schematic Long Section - McKellar Zone

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Michael Thompson, P.Geo., President and CEO of the Company, commented, "Our belief that there remained tremendous potential in the underexplored two-kilometre strike extent to the west of the known McKellar Zone has now been proven. These latest drillholes have now extended the known gold mineralization to approximately 1200 metres. The team is looking forward to growing the known McKellar Zone as well as exploring the extensive strike length left to the west."

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Figure 2: Schematic Plan Map - McKellar Zone

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

Hole IDZoneFrom (m)To (m)Interval (m)Au (g/t)
22HUR154McKellar186.3186.80.51.7
22HUR174McKellar no significant values
22HUR175McKellar71.595.323.80.2
22HUR176McKellar31.045.014.00.2


109.8110.81.01.1


125.9138.012.10.7

including137.0138.01.07.2
22HUR177McKellar12.540.027.50.4

including36.037.01.06.8
22HUR178McKellar12.0158.6146.60.3

including12.036.024.01.3

including12.018.66.64.6

including12.012.60.648.0

and124.0145.321.30.7

including132.5145.312.81.0

including136.7138.01.36.2

 

(1) Widths are drill indicated core length as insufficient drilling has been undertaken to determine true widths with 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.

2022 Huronian Exploration Program

The 2022 Huronian exploration program consists of drilling as well as geophysics over selected target areas. Drilling will be targeting the Fisher, Fisher North, McKellar and Huronian zones, all in close proximity along an approximate 2000 metre strike length in the area of the historic Huronian Mine. As well, the geology on strike to the southwest of Goldshore Resources' Moss Lake deposit will be targeted. Drilling has been paused for the remainder of the season with approximately 13,000 metres completed this year. This will allow all outstanding assays to be received, compiled and interpreted enabling more effective drill targeting when drilling recommences.

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 includes it 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 the adjacent Moss Lake Gold Project with an NI 43-101 complaint resource estimate of 4.17M oz Au at an average grade of 1.1 g/t Au in the inferred category (2). Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Kesselrun Resources' property.

(2) Goldshore Resources Inc. news releases November 15, 2022.

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.

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@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.

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