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).