Kodiak 2023 Regional Exploration Identifies New Targets at MPD
Kodiak 2023 Regional Exploration Identifies
New Targets at MPD
Vancouver, British Columbia--(Newsfile Corp. - February 21, 2024) - Kodiak Copper Corp. (TSXV:
KDK) (OTCQB: KDKCF) (FSE: 5DD1) (the "Company" or "Kodiak") today reports prospecting,
geophysical and geochemical survey results from the 2023 regional exploration program on its 100%
owned MPD copper-gold porphyry project in southern British Columbia.
Highlights
Kodiak's 2023 regional exploration program
identified
five new targets at MPD:
Agie,
Leeside, Celeste, Orbit and Comet.
This brings the
total number of prospective areas to 24
,
of which only eight have been drilled by Kodiak to date.
Figure 1.
Regional work has confirmed significant copper-gold porphyry mineralization stretching
for 20 kilometres across numerous target areas
, consistent with multiple porphyry centres and
highlighting the district-scale potential of the MPD Project.
Two new target areas are considered drill ready (Blue and Celeste).
In addition to these new
drill targets, several trends drilled by Kodiak in 2023 continue to be high-priority for the 2024 drill
program (South-Mid-Adit and Man-Belcarra-Gate), and further target areas are being evaluated
and prioritized.
Figures 2, 3 and 4
At the Blue target, a new 3D
Induced Polarization (3D-IP) geophysical response extends
from surface to a depth of 700 metres. The anomaly is associated with a kilometre-scale
copper-in soil anomaly
and prospecting samples with significant copper-gold-silver, including a
sample with 3.19% Cu, 0.21 g/t Au and 41 g/t Ag (news releases
February 28, 2023
and
February
3, 2022
).
Figures 2 and 3
At Celeste, a new 700-metre-long copper-in-soil anomaly
coincides with substantial copper-
gold-silver in new prospecting samples and a historic 3D-IP response. The
Celeste target
occurs just 600 metres north of the drilled, high-grade West Zone
(
news release October 17,
2023
).
Grab samples collected from Celeste in 2023 include 0.69% Cu, 0.68 g/t Au and 4.5
g/t Ag
Figure 4
A new soil geochemical grid covering the Star and Eclipse areas now links these two
targets with a two-kilometre-long copper-in-soil trend
, corroborated by high-grade copper-
gold assays from bedrock samples throughout. This area has not yet been drilled tested.
Figure 2
Kodiak's 2023 Regional Exploration Program included the collection of
2,705 soil samples, 57
rock samples
,
a 3D-IP survey over 2.6 square kilometres
, geological and geotechnical
studies.
Claudia Tornquist, President and CEO of Kodiak said, "Kodiak's substantial regional exploration
program in 2023 has once again highlighted the prospectivity of the MPD property. We have now 24
target areas, many of them hosting large, kilometre-scale anomalies. With our drilling to date, we have
tested eight target areas and have results from six, with the remaining two expected soon. So far, we
have hit copper at every drilled target, including mineralization from surface and to a depth of almost a
kilometre. Importantly we have delineated large high-grade zones at several targets. Kodiak's team is
currently preparing for our 2024 drill program which will commence in spring. With many compelling drill
targets ready for testing we are excited to get back on the ground and continue proving what we have
believed in from the start: that MPD is a major porphyry system with the potential to become a world-
class mine in the future."
Figure 1:
Plan map showing 24 Target Areas at MPD Project to date. New Targets identified in 2023
are highlighted in yellow, 2023 soil survey grids are outlined in green, and the 2023 3D-IP survey is
outlined in blue.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3803/198689_6c948a57f4924b99_002full.jpg
Figure 2:
2023 copper-in-soil results confirming the 2-kilometre-long Star-Eclipse copper-gold trend,
and 2023 Blue Target 3D-IP cross-section 5511100N reference (see Figure 3).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3803/198689_6c948a57f4924b99_003full.jpg
Figure 3:
Blue Target 3D-IP cross-section at 5511100N looking north. Section shows a broad
untested chargeability high from surface to 700 m depth, corroborated by copper-gold in soil and rock
samples.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3803/198689_6c948a57f4924b99_004full.jpg
Figure 4:
2023 copper-in-soil results showing the new Celeste Target 600 m north of the high-grade
West Zone. This significant geochemical anomaly hosts copper-gold-silver in rock samples and a
historic IP response that mimics the anomaly drilled at the West Zone.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3803/198689_6c948a57f4924b99_005full.jpg
2023 Prospecting
The Company collected a total of
57 rock samples
from prospecting in 2023. Samples collected in both
the MPD North and South Project areas continue to return significant copper porphyry mineralization
(with associated gold and silver) and have identified several polymetallic showings. A select 14 assays
from the 2023 prospecting, with rock type descriptions, are included in
Table 1 and Figure 5
.
Results Summary
The highest copper and silver prospecting results in 2023 assayed 1
.66 % Cu, 0.28 g/t Au and
699 g/t Ag from the Agie Target area
(sample 222230
).
Samples in the historic Agie Pit and
Siwash Creek areas highlight the potential for polymetallic occurrences in the northeast corner of
MPD North claims.
Similarly, prospecting in 2023 discovered the new Comet polymetallic showing on the MPD South
claims acquired in 2023.
The best sample
assayed 2.87% Zn, 13.9 g/t Ag and 0.08% Cu
(sample 222159) from skarn-altered host rock. More follow-up is warranted.
The highest gold value was returned from follow-up sampling in the Beyer target area and assayed
0.20 % Cu, 2.39 g/t Au and 25.5 g/t Ag
(sample 222163).
Prospecting samples from porphyritic diorite in new target areas called Leeside and Orbit
contained significant copper, gold and silver. Small soil surveys conducted at these locations were
also anomalous and further work is planned.
Follow up prospecting was carried out in the Celeste and 1516 areas to determine the extent of
mineralization near high priority targets drill-tested in 2023.
At Celeste, significant copper-gold-
silver assays
(samples 222239 and 222154)
confirmed a new drill-ready target having a
sizable copper-in-soil anomaly and historic IP response
.
Figure 4
Figure 5:
MPD Project showing location of significant copper (green squares) and gold (yellow
squares) results from Kodiak's prospecting programs to date.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3803/198689_6c948a57f4924b99_006full.jpg
Table 1: 2023 MPD Prospecting Result Highlights
Sample ID
Easting
(UTM Z10)
Northing
(UTM Z10)
Target
Cu %
Au g/t
Ag g/t
Pb %
Zn %
Host Rock
Type
MPD North
222230
692094
5513670
Agie
1.66
0.28
699.0
3.69
0.59
Vein
137078*
692140
5513730
Agie
1.03
0.23
135.0
0.70
0.25
Vein
222232
693075
5516403
Agie-Siwash
0.98
0.18
272.0
1.08
0.86
Vein
222237
691850
5514543
Agie-Siwash
0.03
0.49
21.2
0.50
0.54
Vein
222209*
684896
5508597
Leeside
0.59
0.10
3.1
0.00
0.02
Diorite/Rhyolite
Skarn
222224
682801
5514412
Dillard
0.46
0.18
0.6
0.00
0.00
Diorite
222163
681387
5513434
Beyer
0.20
2.39
25.5
0.00
0.00
Vein
222159
682990
5497099
Comet
0.08
0.07
13.9
0.00
2.87
Rhyolite Skarn
MPD South
222239
677476
5504041
Celeste
0.69
0.68
4.5
0.00
0.00
Vein
222154
677584
5504080
Celeste
0.02
0.78
11.4
0.68
1.50
Limestone
222145
677394
5503121
West
0.42
0.08
2.0
0.00
0.01
Diorite (0.7m
chip)
222147
677388
5503116
West
0.54
0.17
1.7
0.00
0.00
Diorite (1.5m
chip)
137087*
677145
5501463
Orbit
0.25
0.04
1.1
0.00
0.01
Diorite
222158
681089
5502659
1516
1.01
0.06
9.0
0.00
0.01
Diorite
*Samples collected in late 2022 not yet reported
2023 3D Induced Polarization Survey
Kodiak contracted SJ Geophysics Ltd. to conduct a DC Resistivity/Induced Polarization (3D-IP) survey
on the MPD Project in 2023. The 2023 3D-IP survey expanded upon survey areas completed in prior
years and consisted of
51 grid line kilometres, oriented east-west and covering 2.6 square
kilometres.
The survey focused on assessing kilometre-scale geochemical trends and corroborating
prospecting results found in the Blue and Sky target areas. Based on the survey configuration, the 3D-IP
survey data is interpreted to a depth of at least 700 metres. The work also included a simultaneous
magneto telluric (MT) survey. The benefit of the MT survey is deep penetration which can assist
interpreting deeper drill targets.
Results Summary
2023 3D-IP data generated a new drill target at Blue, characterised by a broad
chargeability anomaly from surface to 700 metres depth
.
Figure 3
Much like other successful copper porphyry discoveries by Kodiak at MPD,
the 3D-IP response
at the Blue Target coincides with the north end of a two-kilometre-long copper-in soil
trend and significant prospecting results
(see news release February 3, 2022).
The Blue Target area has never been drilled and corroborating results from soils, rock
and geophysics highlight the potential for a sizable new copper porphyry discovery
.
2023 Soil Geochemical
The 2023 soil geochemical surveying was comprised of
2,705 samples collected on seven grids
targeting prospective areas across the MPD claim block
, and one single claim just off-property.
Samples of "B" horizon subsoil (300-500 grams) were collected at a nominal spacing of 50 metres
along lines 100 metres apart.
Figure 6
Anomalous copper values up to 3,700 ppm and gold values up to 0.500 ppm were returned
from the 2023 soil sampling
. With grids spread over 20 kilometres of the project area, percentile
analysis was separated into the MPD North and South areas to account for differences in topography
and overburden depth and are included as
Table 2
.
Results Summary
The largest soil grid in 2023 covered seven square kilometres of prospective geology in the
Star-
Eclipse target area.
New soil results confirmed historic work and now link these two
targets with a two-kilometre-long copper-in-soil trend corroborated by high-grade
copper-gold assays from bedrock samples throughout.
This area has not yet been drilled
tested.
Figure 2
Results from the 2023 geochemical survey discovered the new drill-ready Celeste target
600 metres north of the recently drilled West Zone at MPD South.
This 700-metre wide "look-
alike" copper-in-soil anomaly is verified by substantial copper-gold-silver found in recent
prospecting results and coincides with a chargeability anomaly in historic IP surveying.
Figure 4
Metallic anomalies were present in all soil geochemical grids in 2023. This work was key in
identifying, characterizing and prioritising target areas for additional follow-up and drilling.
Figure 6:
Staff collecting geochemical soil samples on the MPD Project in 2023.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3803/198689_6c948a57f4924b99_007full.jpg
Table 2: 2023 Soil Geochemical Sampling - Value Ranges and Anomalous Thresholds for