Kodiak Confirms Potential of MPD Northwest Claims and Adds Further Strategic Claims; New Focus Area for 2025
Kodiak Confirms Potential of MPD Northwest
Claims and Adds Further Strategic Claims;
New Focus Area for 2025
Vancouver, British Columbia--(Newsfile Corp. - February 12, 2025) - Kodiak Copper Corp. (TSXV:
KDK) (OTCQB: KDKCF) (FSE: 5DD1)
(the "
Company
" or "
Kodiak
") today reports the Company's first
regional exploration results from the MPD Northwest claims that were acquired in autumn 2024 (formerly
Aspen Grove,
see news release September 16, 2024
) at its 100% owned MPD copper-gold porphyry
project in southern British Columbia. The MPD Northwest claims host the high-grade, near-surface
Ketchan Zone which will form a meaningful part of the upcoming MPD mineral resource estimate, and
multiple other known mineral occurrences, providing considerable exploration upside.
Historical data
has also been analyzed, leading to the acquisition of new claims.
View Video of CEO Claudia Tornquist and VP Dave Skelton Discuss the News
Highlights
MPD Northwest is a large 118 square kilometre claim package recently added to MPD.
It hosts
18
known mineral occurrences
, including
six with significant porphyry-related copper-gold
.
Figure 1
The large-scale Ketchan Zone adds significant drill-proven, near-surface, high-grade copper-gold
inventory to MPD. It has been drilled over
1,800 by 500 metres - roughly three times the area
of Kodiak's Gate Zone
discovery
-
and remains open in most directions.
Figure 2
Bedrock grab samples collected in 2024 confirm
high-grade mineralization at Ketchan
.
The
best two samples assayed
0.55 % Cu, 0.32 g/t Au and 0.5 g/t Ag
and
0.38 % Cu, 0.78 g/t Au
and 1.7 g/t Ag
respectively.
Figure 3, Table 1
Data review, select core re-logging, sampling and geological modelling has confirmed that
Ketchan will be a material part of the upcoming MPD mineral resource estimate
.
The Ketchan Zone is
located only 4.5 kilometres from the high-grade Gate Zone
. This
proximity and potential synergies with Gate, plus multiple nearby targets prioritizes this area .
Figure 1
Modelling with VRIFY's Artificial Intelligence (AI) software has identified new prospective areas at
MPD Northwest, including potential extensions to the Ketchan Zone.
Figure 4
Regional exploration has confirmed substantial mineralization through early-stage prospecting,
mapping and soil geochemistry at select sites along the northerly trend of mineral showings central
to MPD Northwest.
Figure 3
An additional three claims have been added to the MPD Northwest claim block. These secure
strategic tenure in the Ketchan area interpreted to potentially host extensions to that zone (the
Delorme claims) and high-grade showings in the north (the Tom claim).
Claudia Tornquist, President and CEO of Kodiak said, "We are delighted with the results from our initial
exploration work and the historic data review at the MPD Northwest claims, which very much validate our
decision to acquire these claims last autumn. The drilling done by previous operators at the Ketchan
Zone has outlined a mineralized zone of significant scale and with good grades. Not only are we
confident that the Ketchan Zone will become a material part of our resource estimate, we also believe
there is ample room to expand it in multiple directions. We are equally exited about the targets and
prospectivity of the wider MPD Northwest claim package, which hosts drill-proven copper and gold
mineralization as well as untested targets with the potential for new discoveries. As we are plan our 2025
exploration program, MPD Northwest is certainly a priority."
Figure 1:
Map of project areas and exploration targets discussed in this release - MPD Project,
Southern BC. Tom claim and Delorme inlier claims have now been added to the project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3803/240508_752f9a4d945c8b30_002full.jpg
Ketchan Zone
The Ketchan Zone is a near-surface, high-grade porphyry copper-gold system defined by historic
geophysics, geological mapping and drilling
.
It is located six kilometers east of Highway 5A and 4.5
kilometres from Kodiak's Gate Zone discovery
.
Historic drilling of 15,582 metres in 86 holes up to 2016 indicates that the
Ketchan Zone comprises a
large porphyry system with almost twice the currently drilled strike length of Kodiak's high-
grade Gate Zone.
Ketchen has been drilled over 1,800 by 500 metres compared to 1,000 by 300
metres at Gate.
Mineralization extends from bedrock surface to generally over 400 metres depth. This
system remains open in several directions
(see Figure 2
).
Work at Ketchan by Kodiak to date consists of grab sample prospecting and review
of historic work.
This confirmed the suitability of Ketchan for inclusion in an upcoming resource estimate at
MPD
, as
announced on January 16, 2025.
New work in 2025 will aim to further expand the Ketchan Zone
through drilling.
Figure 2:
Ketchan Zone northwest-southeast long section with historic drill results to 2016. Select
historic intervals show significant shallow mineralization
along 1.8 kilometres of strike length.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3803/240508_752f9a4d945c8b30_003full.jpg
MPD Northwest Exploration Results
The MPD Northwest claims host
18 known mineral occurrences, including six with significant
porphyry-related copper-gold (+/- silver, molybdenum)
: Ketchan, Par, Zig, Thalia, Thor and Coke.
Since the acquisition in September 2024, the Company conducted early-stage regional exploration on
these claims and performed an initial analysis using VRIFY's Artificial Intelligence (AI) engine.
Prospecting Results
Kodiak collected a total of
38 rock samples from prospecting on the MPD Northwest claim block
in 2024. The focus was to obtain representative samples from most mineralized targets to confirm
grades and understand geology. More follow-up is planned in 2025. Select highlight assays from this
work are included in
Table 1 and Figure 3
.
The highest copper and silver prospecting results in 2024 from MPD Northwest assayed
3.39 % Cu
and 16.9 g/t Ag
from the Thalia Target area in northwestern portion of the project (sample 222339). The
sample was taken from chalcocite veins hosted in porphyry tuff and sandstone.
The highest grading gold-rich copper mineralization was returned from sampling in the Ketchan Zone
area and assayed
0.55 % Cu, 0.32 g/t Au and 0.5 g/t Ag
(sample 222321) and
0.38 % Cu, 0.78 g/t
Au and 1.7 g/t Ag
(sample 222343).
Table 1: 2024 Prospecting Result Highlights MPD Northwest
Sample
Easting
UTM Nad83 Z10
Northing
UTM Nad83 Z10
Prospect
Cu
%
Au
g/t
Ag
g/t
Host Rock Type
222339
674496
5524190
Thalia
3.39
0.00
16.9
veins in porphyry-tuff-
sandstone
222319
672448
5525510
Zig
1.34
0.01
3.9
monzonite
(boulder)
222318
672144
5526920
Nor
1.20
0.01
2.8
conglomerate
222321
676758
5516509
Ketchan
0.55
0.32
0.5
monzonite
222335
676884
5516556
Ketchan
0.53
0.23
2.6
monzonite
222311
676220
5517030
Ketchan
0.44
0.42
2.1
monzonite
222343
676147
5516799
Ketchan
0.38
0.78
1.7
monzonite-gabbro breccia
222334
677001
5516360
Ketchan
0.27
0.38
1.2
monzonite
222322
670064
5520377
Par
0.15
0.62
1.8
rhyolite
Soil Geochemical Results
Two preliminary soil sample grids were completed on the MPD Northwest claims in late 2024 to
determine till characteristics and test geochemical soil sampling methods.
Survey grids covered the
Ketchan and Par Zones and totaled 136 samples.
Samples of "B" horizon subsoil (300 to 500 g)
were collected at a nominal spacing of 50 metres along lines 100 metres apart
(see Figure 3
).
Kodiak's geochemical work in 2024 corroborated copper in known target areas
. Highly
anomalous copper values up to 960 ppm were returned from the soil sampling. Kodiak is planning
broader soil geochemical surveys in key target areas as part of regional exploration in 2025, including
alternate survey methods.
Figure 3:
2024 Exploration Activity on the MPD Northwest Claims. 2024 soil survey grids are outlined
in green, 2023-2024 prospecting samples as triangles and newly acquired strategic claims are
outlined in magenta.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3803/240508_752f9a4d945c8b30_004full.jpg
VRIFY AI Targeting
Historic and new MPD Northwest data is being incorporated into VRIFY's AI targeting software and
merged with the extensive data from the rest of the MPD Project.
Results to date from the AI analysis are encouraging,
highlighting known target areas at MPD
Northwest, but also
identifying a number of new prospective areas adjacent to important zones
like Ketchan showing the potential to expand these zones
(see Figure 4).
Areas identified by VRIFY AI
will be investigated as part of the 2025 exploration program.
Figure 4:
Screenshot of VRIFY AI 3D geo-targeting model at Ketchan Zone, MPD Northwest claims
looking northeast. Image highlights VRIFY Areas of Interest central to known mineralization at
Ketchan, and adjacent areas for follow-up in 2025. Peaks and heat map colours show the AI ranking
for Cu-Au mineralization. Delorme claims are now also owned by Kodiak.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3803/240508_752f9a4d945c8b30_005full.jpg
Additional Claim Acquisitions
Delorme Claims
The Company has acquired a 100% interest in two claims internal to Kodiak's MPD Northwest claim
block (the "Delorme claims").
The Delorme claims are situated adjacent to and immediately
southeast of the Ketchan Zone,
which will form part of the upcoming resource estimate
.
Historic
sampling in the area reported up to
0.71% Cu, 0.36 g/t Au and 6.5 g/t Ag, suggesting the potential
to extend the drilled Ketchan Zone onto these Delorme claims (see Figures 1, 3 and 4
)
.
Kodiak entered into a claim purchase agreement with Christopher and Guy Delorme who are private
and arms-length vendors. The transaction is subject to the approval of the TSX-Venture Exchange and
other customary conditions. Consideration for Delorme claims consists of 143,349 Kodiak common
shares upon closing of the transaction and the vendors will retain a 0.5% net smelter return royalties
("NSR"). Kodiak shall retain the right to buy back the entire NSR at anytime for $250,000.
Tom Claim
The "Tom claim" was acquired by staking in 2022 and transferred to the Company in 2024. The claim is
contiguous to the MPD Northwest claims
(see
Figures 1 and 3
).
Historic work at Tom has identified
at least six showings
on this 500 ha claim. Exploration dating back
to the 1950's has focused on the Tomcat and Boomerang showings which host oxide/skarn-like
chalcocite zones and porphyry-style mineralization.
Preliminary exploration by Kodiak in 2022 to 2023 has confirmed historic showings and the potential for
high-grade copper-gold on the Tom claims. Kodiak's work included the collection of
98 soil samples
and two rock samples.
Soil geochemical traverses
confirmed the copper-gold target at
Boomerang, plus additional anomalies
not associated with known occurrences. A rock sample in
2022 tested porphyritic monzodiorite with chalcocite veins and bornite at Boomerang, assaying
3.11 %
Cu, 2.36 g/t Au and 11.95 g/t Ag
. More work is warranted.
MPD is a large land package (344 square kilometres) located near several operating mines in the
southern Quesnel Terrane, British Columbia's primary copper-gold producing belt. The project is located
between the towns of Merritt and Princeton, with year-round accessibility and excellent infrastructure
nearby.
QA/QC Procedures
All rock and soil samples were sent to ALS Canada Ltd. (ALS) in North Vancouver, BC for preparation
and analysis. ALS meets all requirements of International Standards ISO/IEC 17025:2005 and ISO
9001:2015 for analytical procedures. Rock samples were analyzed using ALS's Fire Assay Fusion
method (Au-AA24) with an AA finish for gold and by 48 element four acid digest ICP-AES analysis
(MS61) with additional analyses for Ore Grade Elements (ME-OG62) and Ore Grade Cu (Cu-OG62).
Soil samples were analyzed using ALS's AuME-ST43 Super Trace Au + Multi Element package. Results
were reported in parts per million (ppm) and converted to percent (%), grams per tonne (g/t) or parts per
billion (ppb) when applicable. In addition to ALS Laboratory quality assurance / quality control (QA/QC)
protocols, Kodiak implements an internal QA/QC program that includes the insertion of sample blanks,
duplicates, and standards in the field.
Jeff Ward, P.Geo, Vice President Exploration and the Qualified Person as defined by National
Instrument 43-101, has reviewed, and approved the technical information contained in this release.
Kodiak believes historic results referenced herein to be from reliable sources using industry standards at
the time. However, the Company has not independently verified, or cannot guarantee, the accuracy of
this historic information.
On behalf of the Board of Directors
Kodiak Copper Corp.
Claudia Tornquist
President & CEO
For further information contact:
Nancy Curry, VP Corporate Development
+1 (604) 646-8362
About Kodiak Copper Corp.
Kodiak is focused on its 100% owned copper porphyry projects in Canada and the USA that have been
historically drilled and present known mineral discoveries with the potential to hold large-scale deposits.
The Company's most advanced asset is the MPD copper-gold porphyry project in the prolific Quesnel
Terrane in south-central British Columbia, Canada, a mining district with producing mines and excellent
infrastructure. MPD has all the hallmarks of a major, multi-centered porphyry district with the potential to
become a world-class mine. Work to date has outlined multiple substantial mineralized zones across the
property, including several zones with near-surface, high-grade mineralization. A maiden resource
estimate for MPD is planned in 2025 and with known mineralized zones open to expansion and more
target areas yet to be tested, Kodiak continues to systematically explore the project to build critical mass
and make the next discovery. The Company also holds the Mohave copper-molybdenum-silver porphyry
project in Arizona, USA, near the world-class Bagdad mine.
Kodiak's founder and Chairman is Chris Taylor who is well-known for his gold discovery success with
Great Bear Resources. Kodiak is also part of Discovery Group led by John Robins, one of the most
successful mining entrepreneurs in Canada.
Neither 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
release.
Forward-Looking Statement (Safe Harbor Statement): This press release contains forward looking
statements within the meaning of applicable securities laws.
The use of any of the words "anticipate",
"plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict",
"potential" and similar expressions are intended to identify forward looking statements.
In particular,
this press release contains forward looking statements concerning the Company's exploration plans.
Although the Company believes that the expectations and assumptions on which the forward-looking
statements are based are reasonable, undue reliance should not be placed on the forward-looking
statements because the Company cannot give any assurance that they will prove correct.
Since
forward looking statements address future events and conditions, they involve inherent assumptions,
risks and uncertainties.
Actual results could differ materially from those currently anticipated due to a
number of assumptions, factors and risks.
These assumptions and risks include, but are not limited
to, assumptions and risks associated with conditions in the equity financing markets, and
assumptions and risks regarding receipt of regulatory and shareholder approvals.
Management has provided the above summary of risks and assumptions related to forward looking
statements in this press release in order to provide readers with a more comprehensive perspective
on the Company's future operations.
The Company's actual results, performance or achievement
could differ materially from those expressed in, or implied by, these forward-looking statements and,
accordingly, no assurance can be given that any of the events anticipated by the forward-looking
statements will transpire or occur, or if any of them do so, what benefits the Company will derive from
them.
These forward-looking statements are made as of the date of this press release, and, other than
as required by applicable securities laws, the Company disclaims any intent or obligation to update
publicly any forward-looking statements, whether as a result of new information, future events or results
or otherwise.
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https://www.newsfilecorp.com/release/240508