Kesselrun Resources' Bluffpoint Project Gold Zone Extended Along
Strike for 3 kilometres
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.
Highlights include:
- 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
(Au g/t) |
Grade
(Au oz/t) |
1294120 |
1.51 |
0.044 |
1294121 |
13.66 |
0.398 |
1294122 |
101.80 |
2.970 |
1294123 |
2.73 |
0.080 |
1294124 |
66.82 |
1.949 |
1294129 |
5.08 |
0.148 |
1294138 |
9.40 |
0.274 |
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.
QA/QC
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.