Grab sample results of 101.80 and 66.82 g/t Au
THUNDER BAY, ON, Oct. 29, 2012 /CNW/ - Kesselrun Resources Ltd. (TSXV: KES) ("Kesselrun") is pleased to announce grab sample assay results from the ongoing surface exploration at its flagship Bluffpoint project ("Bluffpoint") in northwestern Ontario.
- 101.80 g/t Au
- 66.82 g/t Au
- 13.66 g/t Au
These assay results are from samples taken from an area approximately 2300 metres north along strike from the northern extent (see news release dated September 10th, 2012) and 3000 metres north from the southern extent (see news release dated October 18th, 2012) of the newly expanded Homestake Zone. Kesselrun's trenching program has now extended the Homestake Zone for approximately 700m. The grab sample assay results released today have extended the known gold mineralization on surface for approximately 3000m.
The goal of the surface exploration program is to follow up and expand on previous work to better define drill targets for a forthcoming drilling program this fall. Previous work by Homestake Canada Ltd. (now Barrick Gold Corporation) recognized the potential for the Bluffpoint project to host a large- tonnage granite hosted gold deposit.
Table 1 - Significant Grab Sample Results
|Grab Sample #|| Grade
Michael Thompson, P. Geo., President and CEO of Kesselrun stated, "We have now outlined three kilometers of gold mineralization on surface. Within this area we have a drill ready target of 700 metres in strike length and we look forward to an estimated start of drilling in the very near future."
Updated figures, including the trenching results, will be available on our website in the near future. Our corporate presentation is available on our website http://kesselrunresources.com/investors/presentations/
Kesselrun's flagship 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.
Michael Thompson, P. Geo., President and 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 our website at 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