PRECIOUS METALS

Kesselrun intercepts 'impressive' mineralisation at Huronian

Explorer Kesselrun Resources has reported “impressive” initial results including 45.1m at 6.2g/t gold from 2020 drilling at its flagship Huronian project, which it describes as having hosted northwest Ontario’s first gold mine.

Staff reporter
 Activity at the former Huronian gold mine at Kesselrun Resources’ project of the same name in Ontario

Activity at the former Huronian gold mine at Kesselrun Resources’ project of the same name in Ontario

The above intercept, from 12m at the Fisher zone, also included 4.9m at 42.1g/t, 2.3m at 7.6g/t and 2.8m at 6.1g/t in three discreet zones.

The Thunder Bay-based company said the higher-grade intercepts were associated with lead and copper sulphides, which were typical of the mineralisation at the historically-mined Huronian zone.

"The impressive width and grade along with the tenure of veining, alteration and mineralisation indicates a robust system," president and CEO Michael Thompson said.

"As well, we have extended the higher-grade core to almost 100m vertical depth with the down plunge extent remaining untested.

"Our systematic approach to exploration puts Kesselrun in an exceptionally good position to aggressively advance the Huronian project."

The company had last month opted to extend the drilling programme to 3,000m based on "the visuals of the drill core".

Kesselrun had raised C$645,700 in July at 6c per flow-through unit for exploration at its Ontario projects.

It had acquired Huronian from Chalice Gold Mines and Pele Mountain Resources in 2016 and expanded the project the following year.

It also has the Bluffpoint gold project further west.

Its shares touched a 52-week high of 47c intraday.

They closed down 1% to 45c, capitalising it at $21.8 million (US$16.5 million).

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.