Kodiak Copper Corp. provides an update on its fully funded 2022 exploration program at its 100% owned MPD copper-gold porphyry project ("MPD") in Southern British Columbia.
Plans for 2022 include up to 25,000 metres of drilling as well as 3D IP surveying and soil geochemical sampling. Kodiak recommenced drilling at MPD in March and added a second drill rig shortly thereafter (see news release dated April 28, 2022).
New drilling in 2022 at the Gate Zone has intersected prospective, sulphide-bearing, porphyritic host rock between Gate and the historic Prime Zone to the north, and to 875 metres depth at the south end of the Gate Zone. Gate remains open in multiple directions and further drilling in 2022 will focus on extending it.
Drilling is on schedule and the Company has completed 11 holes totalling 7,065 metres as of June 8. Both drill rigs are currently focused on extending the Gate Zone. Drills will be redeployed or additional drills added to other priority areas as the 2022 program progresses. Core samples are being shipped to ALS Canada Ltd. in North Vancouver, BC for preparation and final analysis. Assay results from the 2022 drilling will start being reported in late June. 2022 drilling will also test numerous other priority target areas, including a new one kilometre long "look-alike" 3D Induced Polarization (IP) response near Gate, and high- priority targets in the Prime, Man, Dillard and Axe areas which exhibit similar geophysical and geochemical signatures as the Gate Zone as well as shallow mineralization from historic drilling.
A new 3D IP geophysical survey is underway that will cover 7.5 square kilometres, extending southward from the Gate Zone to the Man and Dillard target areas. Similarly, soil geochemical surveys will follow-up new kilometre-scale copper-gold anomalies discovered in 2021. 3D IP and soil geochemistry will be important, complementary tools for drill targeting elsewhere at MPD.
Claudia Tornquist, President and CEO of Kodiak said, "We are excited to already see potential to further expand the high-grade Gate Zone in just the first few months of the 2022 drill campaign. New and deeper 3D IP geophysical data will not only allow us to refine our drilling at Gate, but will also accelerate our targeting at the Man, Dillard and Axe areas which are slated for drilling this season and have the potential for new high-grade discoveries. We also anticipate that our systematic exploration will recognize completely new target areas at MPD. Kodiak is fully funded for the company's 2022 exploration program and our shareholders can expect a steady flow of results throughout the remainder of the year."
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About Kodiak Copper Corp.
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.
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Kodiak Copper Corp.