Malibu, CA, May 9, 2022 AEST (ABN Newswire) - Join Bob Lange for a Discussion with Claudia Tornquist, CEO of Kodiak Copper Corp. (CVE:KDK)(KDKCF:OTCMKTS) as the company intersects shallow higher-grade copper gold mineralization in first holes at Dillard, confirming significant porphyry target: 0.63% CuEq over 21.0 m, within 0.23% CuEq over 381.1 m.
Kodiak reports drill results from the 100% owned MPD copper-gold porphyry project in southern British Columbia. Results from the final seven holes drilled at MPD in 2021 are presented in this release. The fully funded 2022 drill program of up to 25,000 metres is now underway.
The Company's first two holes testing the Dillard porphyry target intersected significant copper-gold mineralization from bedrock surface to 530 metres depth, including intervals of higher-grade copper- gold-silver mineralization. They represent the best drill results reported from the Dillard area to date with better grade x width than any of the historic holes, and confirm Dillard as a substantial porphyry target.
In addition, drilling into the southern margin of the Gate Zone extended the known strike length of mineralization to one kilometre. Both the Dillard and Gate Zone porphyry targets remain open to extension in multiple directions and will be further tested as part of the 2022 drill campaign.
The Dillard target consists of a 2.7 kilometre long copper-in-soil anomaly with some, shallow historical drilling that had confirmed a porphyry system. The Dillard target is almost three times the strike length of the Gate Zone copper-in-soil anomaly. Figure 1*
Based on the Kodiak's Gate Zone discovery, the Company's exploration model for the Dillard Zone comprises one or more higher-grade porphyry mineralization centres within a multi- kilometre mineralized envelope. Kodiak's first two drill holes support the potential for this model.
Kodiak's first Dillard drill hole MPD-21-034, intersected 28.8 metres of 0.36% Cu, 0.16 g/t Au and 0.24 g/t Ag (0.47% CuEq*) within a broader 556.5 metre interval of 0.15% Cu, 0.08 g/t Au and 0.36 g/t Ag (0.20% CuEq*).
The second drill hole, MPD-21-035, intersected 21.0 metres of 0.52% Cu, 0.17 g/t Au and 0.79 g/t Ag (0.63% CuEq*) within a broader 381.1 metre interval of 0.18% Cu, 0.08 g/t Au and 0.28 g/t Ag (0.23% CuEq*). Figure 5*
These maiden holes confirm that higher-grade mineralization is present at Dillard which occurs at shallow depths ranging from 86.0 to 203.0 metres downhole.
Kodiak will continue testing Dillard in 2022 and plans to drill a minimum of 10-15 further holes into this zone. Similar to the methods applied at the Gate Zone discovery, ongoing results will inform a three-dimensional model that will facilitate targeting of higher-grade mineralization within the larger Dillard target.
A 3D IP survey will be conducted in May over the Dillard Zone. As at the Gate Zone this will be a valuable tool for drill targeting. Claudia Tornquist, President and CEO of Kodiak said, "Due to the significant multi-kilometre scale of the Dillard copper target, the immediate discovery of higher-grading copper mineralization in our first two drill holes is an exciting new development that we are eager to follow up with more drilling in 2022. We are looking forward to applying the same systematic approach that led to our Gate Zone discovery success to Dillard and several other highly prospective target areas as we are aiming to unlock their potential and make more discoveries throughout 2022 and beyond." Gate Zone Extension (complete results are shown in Table 1, Figures 3 and 4*):
New drill hole MPD-21-030 at Gate intersected a broad 457 metre interval of 0.15% Cu, 0.04 g/t Au and 0.14 g/t Ag (0.17% CuEq*) including 48 metres of 0.25% Cu, 0.07 g/t Au and 0.06 g/t Ag (0.29% CuEq*), extending the Gate Zone envelope to over one kilometre of strike length (north-south).
Results from all holes reported herein from the Gate Zone continue to recognize patterns of strongly mineralized porphyry alteration, sulphide zoning and the possible controls for higher-grade domains surrounded by lower grade shells. All results have now been reported from the 2021 drill program at MPD. A large drill program of up to 25,000 metres in 2022 is currently underway, utilizing two drill rigs.
Kodiak Copper Corp. (CVE:KDK) (OTCMKTS:KDKCF) is focused on its portfolio of 100% owned copper porphyry projects in Canada and the USA.
The Company's most advanced asset is the MPD copper-gold porphyry project in the prolific Quesnel Trough in southern British Columbia, Canada, where in 2020 the Company made a high-grade discovery at the Gate Zone, which is part of a zoned, copper-gold enriched envelope of significant size.
Kodiak also holds the Mohave copper-molybdenum-silver porphyry project in Arizona, USA, near the world-class Bagdad mine. Both of Kodiak's porphyry projects have been historically drilled and present known mineral discoveries with the potential to hold large-scale deposits.
The Company's Kahuna diamond project in Nunavut, Canada, hosts a high-grade, near surface inferred diamond resource and numerous kimberlite pipe targets. Kodiak is considering strategic options for the Kahuna project.