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    KES   CA4925371052

KESSELRUN RESOURCES LTD.

(KES)
  Report
Delayed Bourse de Toronto  -  03:59 2022-12-02 pm EST
0.0800 CAD   +23.08%
11/29Kesselrun Doubles McKellar Zone Strike Length
AQ
11/29Kesselrun Resources Releases Additional Drill Results on its Huronian Gold Project
CI
11/28Kesselrun Resources Ltd. Doubles Mckellar Zone Strike Length
CI
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Kesselrun Resources Continues Intercepting High-Grade Gold at McKellar Zone

09/23/2022 | 10:04am EST

Thunder Bay, Ontario - 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 high-grade gold within wide intervals of mineralization.

Highlights

22HUR170 intercepted 14.4 g/t over 11.6 m including 184.0 g/t Au over 0.8 m within a 124.0 m interval which averaged 1.8 g/t Au

22HUR151 intercepted 16.4 g/t Au over 1.0 m within an 11.1 m interval which averaged 1.7 g/t Au

22HUR153 intercepted 9.9 g/t Au over 1.2 m within a 15.5 m interval which averaged 1.1 g/t Au which included 1.7 m of open workings which were assigned zero grade

Michael Thompson, P.Geo., President and CEO of the Company, commented, 'The 2022 drill program has been designed to expand zone footprints as well as infill drill identified areas of gold mineralization. Specifically, the drill holes reported herein were part of the program designed to infill gaps of up to 100 metres in the heart of the McKellar zone. Infill drilling on the McKellar zone continues to impress with multiple high-grade veins within a much wider zone. These blowouts are common in all the zones on Huronian and are exemplified by local fold and fault thickening.' 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 1500 m 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 the remainder of the numerous 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 historic 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 Wesdome Gold Mines' 2013 PEA (2) (3). Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Kesselrun Resources' property.

(2) Moss Lake Gold Mines (a subsidiary of Wesdome Gold Mines at the time) news releases February 20, 2013 and September 9, 2013.

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

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.

Contact:

Kesselrun Resources Ltd.

Michael Thompson, P.Geo.

President & CEO

T: 807.285.3323

E: michaelt@kesselrunresources.com

Corporate Communications

T: 1.866.416.7941

E: 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.

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
GOLDSHORE RESOURCES INC. -3.45% 0.28 Delayed Quote.-56.92%
KESSELRUN RESOURCES LTD. 23.08% 0.08 Delayed Quote.-38.46%
All news about KESSELRUN RESOURCES LTD.
11/29Kesselrun Doubles McKellar Zone Strike Length
AQ
11/29Kesselrun Resources Releases Additional Drill Results on its Huronian Gold Project
CI
11/28Kesselrun Resources Ltd. Doubles Mckellar Zone Strike Length
CI
11/28Kesselrun Resources Ltd. Reports Earnings Results for the Full Year Ended July 31, 2022
CI
09/23Kesselrun Resources Continues Intercepting High-Grade Gold at McKellar Zone
AQ
09/22Kesselrun Resources Ltd. Provides Further Drilling Results on its 100% Owned Huronian G..
CI
08/12Kesselrun Continues Drilling High-Grade; Extends Fisher Zone 250 Metres to West
AQ
08/11Kesselrun Resources Ltd. Continues Drilling High-Grade; Extends Fisher Zone 250 Metres ..
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08/04Kesselrun to Start Trading on OTCQB
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06/27Kesselrun Resources Ltd. Reports Earnings Results for the Third Quarter and Nine Months..
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More news
Financials
Sales 2022 - - -
Net income 2022 -0,15 M -0,11 M -0,11 M
Net cash 2022 1,18 M 0,88 M 0,88 M
P/E ratio 2022 -22,8x
Yield 2022 -
Capitalization 7,49 M 5,56 M 5,56 M
EV / Sales 2021 -
EV / Sales 2022 -
Nbr of Employees -
Free-Float 86,2%
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Mean consensus BUY
Number of Analysts 1
Last Close Price 0,12 BZD
Average target price 0,67 BZD
Spread / Average Target 461%
Managers and Directors
Michael John Thompson President, Chief Executive Officer & Director
Joao da Costa Chief Financial Officer, Secretary & Director
Caitlin Leigh Jeffs Independent Director
Yanika S. Silina Independent Director
Rodney Stevens Vice President-Corporate Development
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