Kodiak Begins 2024 Exploration Program at its MPD Copper Gold Porphyry Project
Kodiak Begins 2024 Exploration Program at its
MPD Copper Gold Porphyry Project
Vancouver, British Columbia--(Newsfile Corp. - June 12, 2024) - Kodiak Copper Corp. (TSXV: KDK)
(OTCQB: KDKCF) (FSE: 5DD1) (the "
Company
" or "
Kodiak
") today reports that the Company is
mobilizing two drill rigs to start the 2024 Exploration Program at its 100% owned MPD copper-gold
porphyry project in southern British Columbia.
2024 Exploration Program Highlights
(
see news release May 8, 2024
)
Kodiak is planning a drill program of 10,000 metres, focused on multiple drill-ready
targets in the MPD North and South Project areas,
with the goal of locating high-grade
mineralization, expanding the near-surface mineralization around known zones, and making new
discoveries.
Six target areas are slated for drilling in 2024:
two at MPD North (Belcarra and Blue) and four
at MPD South (1516, South, Adit and Celeste). The targeting strategy involves the integration of
targets developed by Kodiak's exploration team and VRIFY AI's predictive modeling.
Figure 1
VRIFY AI has recognized nine additional Areas of Interest,
either adjacent to known copper-
porphyry zones (Gamma, Zeta, Epsilon, Lambda, Omega and Sigma), or as new priority regions
(Omicron, Iota and Tau) which will be followed up in 2024.
Figures 2 and 3
25-line kilometres of new 3D Induced Polarization (3D IP) surveying and a 2,000-sample
soil geochemical survey
is proposed to advance VRIFY AI Areas of Interest to drill-readiness.
Geological mapping and prospecting will also be carried out in key areas.
Regional exploration in 2023 identified five new targets at MPD
(
see news release February
21, 2024
)
: Agie, Leeside, Celeste, Orbit and Comet. Additional ground exploration will advance
these for future drill testing.
Claudia Tornquist, President and CEO of Kodiak said, "With Kodiak's recently announced financing we
will be fully funded for a substantial drill program as we continue to systematically prove that our district-
scale MPD project has the potential to become a world-class mine. For our 2024 program we have
prioritized high-confidence targets near existing zones to expand mineralization, and new targets that
present fresh discovery potential. We will continue to build critical mass and focus particularly on adding
and expanding near-surface mineralization and higher-grade zones."
Figure 1:
2024 Target Location Map - MPD Project, Southern BC.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3803/212542_68a15401946c580f_002full.jpg
Figure 2: Screenshot of VRIFY AI 3D geo-targeting model at MPD North
(looking
northeast)
showing five new prospective areas
(yellow text). VRIFY Areas of Interest occur adjacent
to known mineralized zones (Epsilon , Gamma, and Zeta), or as new regions for follow-up in 2024
(Omicron and Iota). Peaks and heat map colours rank the AI models for Cu-Au mineralization. AI
results associated with Cu-Au mineralization from Kodiak zones (yellow spheres) and historic zones
(red spheres) have been removed from the image to highlight new VRIFY Areas of Interest.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3803/212542_68a15401946c580f_003full.jpg
Figure 3: Screenshot of VRIFY AI 3D geo-targeting model at MPD South
(looking south)
showing
four new prospective areas
(yellow text). VRIFY Areas of Interest occur adjacent or along trend of
known mineralized zones (Lambda, Omega and Sigma), or as new regions for follow-up in 2024 (Tau).
Peaks and heat map colours rank the AI models for Cu-Au mineralization. AI results associated with
Cu-Au mineralization from Kodiak zones (yellow spheres) and historic zones (red spheres) have been
removed from the image to highlight new VRIFY Areas of Interest.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3803/212542_68a15401946c580f_004full.jpg
Jeff Ward, P.Geo, Vice President Exploration and the Qualified Person as defined by National
Instrument 43-101, has approved and verified the technical information used in the VRIFY AI mineral
targeting software and information contained in this news release. The historic work referenced herein is
believed to be from reliable sources using industry standards at the time, based on Kodiak's review of
available documentation and select verification work. However, the Company has not independently
validated all historic work, and the reader cautioned about its accuracy.
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 system. Kodiak made an
initial discovery of a high-grade porphyry centre of significant size at the Gate Zone and has since
successfully outlined multiple kilometre-scale mineralized zones across the large MPD property. With
more target areas yet to be tested, Kodiak continues to systematically explore the project to build critical
mass and demonstrate MPD's district-scale potential. 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/212542