As geopolitical tensions continue to escalate, gold showcases its safe-haven appeal.
Gold recently jumped to a 15-month high as Russia invaded Ukraine to coincide the ongoing inflationary pressures that continue to be felt worldwide.
Additionally, gold demand continues to be very strong, notably in China, as it was reported last Thursday that gold imports to China from Switzerland surged to their highest since December of 2016.
Last year Indian jewelry buyers nearly doubled their purchases to 611 metric tons, and in mainland China, consumption surged 63% to 675 tons.
As economic uncertainty persists, many central banks and individuals continue to accumulate gold for wealth preservation and stability.
Kesselrun Resources:
As I have been covering, Kesselrun continues to advance its 100% owned Huronian Gold Project in Thunder Bay, Ontario.
The project is a former producing mine with a historical resource of 44,592 oz Au @ 15.3 g/t Au Indicated and 501,377 oz Au @ 14.4 g/t Au Inferred.
Huronian is a high-grade, near-surface project in an emerging gold district as it’s on strike from Goldshore’s adjacent Moss Lake gold deposit.
Goldshore is currently conducting a 100,000-metre drill program and is already off to an excellent start as it looks to expand the Moss Lake Deposit which hosts an indicated and inferred resource of 1,751,600 ounces.
This emerging gold district is situated in a very safe jurisdiction in Ontario with a long-dated rich mining history.
Currently, Kesselrun continues to focus on growing its three zones through drilling in the months ahead:
- Huronian Zone
- McKellar Zone
- Fisher & Fisher North Zones
All three zones are still very much unexplored, and the company has continued to make discoveries in these zones over the past two years.
The 2021 Huronian drill program was completed with approximately 19,750 metres drilled, with the program coming in under budget as all three zones extended in strike and depth.
The company is now preparing for its 2022 exploration program, which will include a second drill to increase activity in terms of expanding the mine as it continues to work towards generating an updated resource estimate.
Today, I am pleased to be joined by the company’s CEO, Michael Thompson, to provide the Gold Telegraph audience with an update on the company.
Alex Deluce:
Hi Micheal, thank you for joining me once again to provide the Gold Telegraph readers with another update on Kesselrun.
For new readers, can you provide a brief overview of the company and some of the successes that transpired during 2021 at the Huronian project?
Michael Thompson:
Thanks for having me Alex. Kesselrun Resources is a Thunder Bay, Ontario-based mineral exploration company exploring for gold in Northwestern Ontario. We are focussed on the 100% owned Huronian Gold Project hosts the past producing Huronian Mine, northwestern Ontario’s first gold mine.
Ongoing exploration throughout 2021 continued to intercept high-grade gold mineralization and expand the size of the four known zones, all located in close proximity along a 1500 metre strike length in the mine area. Significant potential exists for the discovery of new zones elsewhere on the sizable land package including the rocks on strike to the southwest of Goldshore Resources’ Moss Lake deposit.
Alex Deluce:
What are the plans for 2022?
Michael Thompson:
Well, we plan on ramping up our efforts beginning with adding a 2nd drill rig which should be on site in the near future. We will continue to expand the footprint of the known zones while evaluating the tremendous potential for other zones in close proximity to those zones. As well, we will begin drilling the extension of the Moss Lake deposit on the southern portion of the property.
Alex Deluce:
I noticed the company recently expanded the size of the fisher zone with multiple high-grade intercepts. Can you touch on these highlights, which continue to validate the expansion of this project?
Michael Thompson:
The Fisher zone has been expanded to over 400 metres in strike length and down plunge to a depth of 200 metres. It can be compromised of up to several high-grade quartz veins within a wider zone of gold mineralization.
Some of the more recent intercepts include 21HUR082 which intercepted 18.6 g/t Au over 1.0 m within a 3.6 m wide zone which averaged 6.0 g/t Au, 21HUR108 which intercepted 16.2 g/t Au over 1.4 m within a 3.6 m wide zone which averaged 6.1 g/t Au and 21HUR112 which intercepted 25.1 g/t Au over 0.6 m within a 4.9 m wide zone which averaged 5.5 g/t Au.
Alex Deluce:
Is the company planning on conducting any work at Bluepoint this year?
Michael Thompson:
Yes.
We would like to get the project drill ready by late 2022.
We will initiate a detailed UAV magnetics survey along with an alteration study. Work to date has shown a very large gold mineralizing system and we feel these initiatives will give the market clarity of the potential of this project.
Alex Deluce:
Finally, Mike, what is your current take on the gold market?
Michael Thompson:
Well, as we often discuss, the gold market is an exercise in patience. I think it is inevitable that the global fiscal policies will result in significantly higher gold prices. We are seeing inflation numbers continue to rise and the price of gold will eventually follow. It’s not an if but a when. I think 2022 will be the year in the resumption of the rise in the price of gold.
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