THUNDER BAY, ON, Jan. 9, 2013 /CNW/ - Kesselrun Resources Ltd. (TSXV: KES) ("Kesselrun") is pleased to announce the initial results from its ongoing diamond drilling program at its flagship Bluffpoint project in Northwestern Ontario.
- 0.91 g/t Au over 21.7 m., including 1.24 g/t Au over 14.3 m, and including 9.28 g/t Au over 0.7 m.
- 0.90 g/t Au over 11.0 m., including 1.14 g/t Au over 7.9 m.
- 0.70 g/t Au over 10.0 m., including 0.86 g/t Au over 6.0 m.
Nine drill holes have been completed to date totalling 1,762 metres of the ongoing drill program. Widespread alteration including quartz, albite, chlorite, carbonate, hematite, magnetite and pyrite has been encountered throughout all holes drilled to date.
The drill program was designed to test several geological models of the Homestake zone developed utilizing historic results and results from the 2012 surface exploration program. The results have allowed us to build our 3D knowledge of the property and develop a stronger model to continue drilling.
Michael Thompson, P. Geo., President & CEO of Kesselrun commented, "These initial results are very encouraging and have been instrumental in the ongoing development of the mineralization model. Further drilling is already underway and will be focused on determining strike and depth extents of the mineralization intersected to date."
The Bluffpoint project consists of 103 mining claims covering 22,512 hectares in Northwest Ontario's Wabigoon Subprovince, host to several recent gold discoveries such as Osisko's (TSX: OSK) Hammond Reef Project and Rainy River's (TSX: RR) Rainy River Project. Accessible year round by a network of well-maintained logging roads, Bluffpoint offers low cost exploration in an emerging prolific gold district.
|Table 1 - Significant Phase 1 Drilling Results|
|Hole ID|| From
| Weighted Grade Au
|and which includes||130.0||136.0||6.0||0.86|
|and which includes||66.4||74.0||7.6||1.89|
|* length refers to drilled length; true widths have not been determined|
Michael Thompson, P. Geo., President & CEO of Kesselrun, is the Qualified Person responsible for the Bluffpoint project as defined by National Instrument 43-101 and has approved the technical information in this news release.
Kesselrun has implemented a quality control program for the trench sampling and planned drill program to ensure best practice in sampling and analysis. The planning, execution and monitoring of Kesselrun's quality control programs on the Bluffpoint project are under the supervision of Michael Thompson, P. Geo. Kesselrun maintains strict quality assurance/quality control protocols including the systematic insertion of certified standard reference and blank materials into each sample batch. Analyses in this release were performed by Accurassay Laboratories Ltd. of Thunder Bay, Ontario with ISO 17025 accreditation. Samples are transported in security sealed bags to Accurassay and all samples were assayed using industry-standard assay techniques for gold. Gold was analyzed by a standard 30 gram fire assay with an AA and/or gravimetric finish.
About Kesselrun Resources Ltd.
Kesselrun Resources is a newly formed 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 with particular experience in Northwest Ontario. For more information about Kesselrun Resources, please visit www.kesselrunresources.com.
Forward Looking Statements
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, including without limitation, the private placement, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "could" or "should" occur. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that may cause the actual results to differ materially from those in forward-looking statements include gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. The Company cautions the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of the Company at www.sedar.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.
SOURCE: Kesselrun Resources Ltd.
For further information:
Kesselrun Resources Ltd.
Michael Thompson, P.Geo, President & CEO
Adam Rabiner, Corporate Communications
604.868.7881 or 1.866.416.7941