Kodiak Drills 105 m of 0.76% CuEq within 504 m of 0.47% CuEq at Gate Zone, Begins Drilling Dillard Copper Porphyry Target
Kodiak Drills 105 m of 0.76% CuEq within 504
m of 0.47% CuEq at Gate Zone, Begins Drilling
Dillard Copper Porphyry Target
Vancouver, British Columbia--(Newsfile Corp. - October 18, 2021) - Kodiak Copper Corp. (TSXV: KDK)
(OTCQB: KDKCF) (FSE: 5DD1) (the "Company" or "Kodiak") today reports drill results at the 100%
owned MPD copper-gold porphyry project in southern British Columbia.
Nine new Gate Zone drill holes are presented in this release.
These holes
1)
define additional
mineralization towards the centre of the zone
, and
2) expand the margins of the zone to the
south, and west
.
The Gate Zone porphyry target remains open to extension in multiple directions.
One of Kodiak's two drill rigs at MPD has been
relocated to the Dillard copper-gold porphyry
target
, while one rig remains at the Gate Zone.
Kodiak's ongoing exploration at MPD includes drilling with two rigs, prospecting-mapping, trenching,
geophysical, geochemical and environmental surveying. The fully funded 2021 program is progressing
well and remains on budget.
Central Gate Zone
Three new drill holes completed along approximately 500 metres of strike length
underlying the
central Gate Zone copper-in-soil target
once again intersected significant grades and interval
lengths of copper-gold mineralization.
Results are shown in
Table 1 and Figures 2, 3
.
Highlights include:
New drill hole MPD-21-016 intersected
105 metres of 0.50% Cu, 0.39 g/t Au and 1.57 g/t Ag
(0.76% CuEq*) within a broader 504 metre interval of 0.37% Cu, 0.15 g/t Au and 1.11 g/t Ag
(0.47% CuEq*)
Figure 4A
Hole MPD-21-016 was
mineralized from near surface at 21 metres to 720 metres
downhole (699 metres) and represents the third best hole drilled by Kodiak to date
(Cu% grade x width)
New drill hole MPD-21-012 intersected
108 metres of 0.45% Cu, 0.09 g/t Au and 0.59 g/t Ag
(0.51% CuEq*) within a broader 243 metre interval of 0.31% Cu, 0.08 g/t Au and 0.35 g/t Ag
(0.36% CuEq*)
Figure 4B
New drill hole MPD-21-024 intersected
42 metres of 0.32% Cu, 0.34 g/t Au and 1.56 g/t Ag
(0.55% CuEq*) within a broader 447 metre interval of 0.21% Cu, 0.11 g/t Au and 0.72 g/t Ag
(0.29% CuEq*)
Figure 5A
Drilling Gate Zone Margins
Six new drill holes targeted the pyrite-dominated envelope surrounding higher grade
mineralization, to help define the dimensions of the Gate Zone porphyry centre.
Results are
shown
in
Table 1 and Figures 2, 3.
Two of these new drill holes intersected
significant gold mineralization
within quartz-carbonate
veins and structurally-controlled quartz-sericite-pyrite alteration zones on the eastern and western
margins of the Gate Zone:
Drill hole MPD-21-015 intersected
6.0 metres of 2.40 g/t gold
Drill hole MPD-21-011 intersected
3.5 metres of 3.58 g/t gold
Gold-rich pyrite dominant mineralization is a common feature of the outer margins of copper-
porphyry systems and identifies potential new gold-rich drill targets at the Gate Zone
Five of the six drill holes
intersected anomalous to low-grade copper gold mineralization
with pyrite dominating over chalcopyrite over significant widths
.
Highlights include:
Drill hole MPD-21-007 intersected 132 metres of 0.15% Cu, 0.08 g/t gold and 0.43 g/t silver
(0.21% CuEq*)
Figure 5B
Drill hole MPD-21-013 intersected 318 metres of 0.14% Cu, 0.06 g/t gold and 0.13 g/t silver
(0.20% CuEq*)
Ongoing systematic drilling at the Gate Zone has successfully intersected porphyry-related
mineralization and host lithology
along 950 metres of strike, having the depth (850 metres)
and width (350 metres) typical of other multi-centre copper porphyry deposits in British
Columbia
The results from the pyrite-dominated envelope are of similar interval lengths and grades to
historical drill results elsewhere at the MPD project.
The Gate Zone was discovered by further
testing adjacent to and below historic intervals, which are now shown to surround a significantly
higher-grade core.
These results highlight the prospective nature of other areas such as
the Dillard. Man and Axe targets
, which generally lack deeper drilling
Dillard Target Drilling
The high priority Dillard target exhibits similar copper-in-soil anomalies, geophysical responses and
encouraging historic drilling to the Gate Zone. Dillard will be drill-tested during the remainder of Q4 as
part of the 2021 program.
Like at the Gate Zone, most historic drilling at Dillard was shallow.
See
3D model of drilling at Gate, Dillard and Man in
Figure 6.
Historic drilling at Dillard intersected anomalous copper over significant widths. It rarely tested
below 350m depth and mineralized potential remains open in all directions
Historic soil surveys at Dillard outlined a 600 x 1500 metre area with anomalous copper and gold
Kodiak's 2020 ZTEM airborne survey identified a regional magnetic low (1000 x 1000 metre) and
large resistivity anomaly at depth, below historic drilling, and copper in soil anomalies
The Dillard target area is underlain by dioritic rocks displaying porphyry-style alteration (potassic
and calcic), a "pyrite-halo" from mapped geology and copper-gold mineralization associated with
altered volcanic and intrusive rocks
Ongoing Exploration Program
34 holes (18,724 metres) have been drilled as of October 17 and assay results will be reported
throughout the remainder of 2021 and onwards; delays in lab throughput times continue
The Company expects to achieve between 20,000 - 25,000 metres of drilling before year-end
Additional plans in Q4 include a DC Resistivity/Induced Polarization (3DIP) and Magnetotelluric
(MT) geophysical survey at the Gate Zone conducted by SJ Geophysics Ltd.
Results from 1,755 soil samples, and 176 rock samples from prospecting and trenching will be
reported throughout the remainder of 2021 and onwards
A large exploration program is planned for 2022 and drilling will continue in Q1 2022
. The
program will include assessing the three kilometres regional magnetic low between the Gate and
Man target areas, follow up drilling at Dillard, testing analogous targets elsewhere across MPD
and initiating work on the newly acquired Axe Property.
The Axe property overlies significant
geophysical targets with similar signatures to Kodiak's Gate Zone discovery, and historical copper
results in drill core, soils, and rock samples.
Claudia Tornquist, President and CEO of Kodiak said, "The Gate Zone keeps delivering impressive drill
results and I am very pleased with the progress of our work to date. Kudos to our technical team for
executing successfully the largest ever exploration program at MPD, despite unusually challenging
weather conditions this year. The Gate Zone discovery is only the first step of our exploration strategy. It
proves our district scale approach and provides a road map for other target areas at what we believe is
a multi-centre porphyry system at MPD. We will now replicate our successful approach at the Dillard
Zone this year and I am looking forward to testing several further interpreted porphyry centres with a
large drill program in 2022."
Table 1: Weighted assay intervals for holes MPD-21-007, MPD-21-008, MPD-21-010 to 013,
MPD-21-015, MPD-21-016 and MPD-21-024 (see Figure 2)
Hole ID
From (m)
To (m)
Interval**
(m)
% Cu
Au g/t
Ag g/t
%CuEq*
Gate Zone Central
MPD-21-016
21.0
720.0
699.0
0.29
0.12
0.87
0.37
Includes
168.0
672.0
504.0
0.37
0.15
1.11
0.47
Includes
201.0
459.0
258.0
0.40
0.09
1.14
0.47
Includes
297.8
402.0
104.2
0.48
0.11
1.41
0.56
and Includes
567.0
672.0
105.0
0.50
0.39
1.57
0.76
MPD-21-012
254.0
689.0
435.0
0.23
0.06
0.20
0.27
includes
275.0
518.0
243.0
0.31
0.08
0.35
0.36
includes
395.0
503.0
108.0
0.45
0.09
0.59
0.51
includes
413.0
461.0
48.0
0.58
0.10
0.97
0.65
MPD-21-024
302.0
749.0
447.0
0.21
0.11
0.72
0.29
includes
311.0
425.0
114.0
0.25
0.05
0.80
0.29
includes
512.0
554.0
42.0
0.32
0.34
1.56
0.55
and includes
608.0
662.0
54.0
0.30
0.18
1.22
0.43
Gate Zone Margins
MPD-21-015
182.0
297.0
115.0
0.09
0.09
0.37
0.14
and
536.0
542.0
6.0
0.15
2.40
6.20
1.68
MPD-21-011
110.0
113.5
3.5
0.08
3.58
0.60
2.30
MPD-21-007
116.0
248.0
132.0
0.15
0.08
0.43
0.21
MPD-21-008
377.0
479.0
102.0
0.15
0.11
1.10
0.22
MPD-21-013
304.7
623.0
318.3
0.14
0.06
0.13
0.18
MPD-21-010
95.0
516.3
421.3
0.07
0.04
0.13
0.10
*Copper equivalent grades (%CuEq) are for comparative purposes only.
Calculations are uncut and recovery is assumed to be 100% as no
metallurgical data is available.
Metal prices of US$4.25/lb copper, US$1,800/oz gold, and US$26/oz silver, using the formula: %CuEq = Cu grade +
(Au price x Au grade + Ag price x Ag grade)/31.104/(Cu price*22.046)
**Intervals are downhole drilled core intervals.
Drilling data to date is insufficient to determine true width of mineralization.
Figure 1:
Gate Zone plan map showing all 2021 drilling with assay results to date.
Background is
contoured historic copper-in soil data. Porphyry-related alteration and mineralization
at Gate has been
traced down to 850 m depth, across a width of 350 m (east-west) and over 950 m in length (north-
south)
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3803/99991_e11bc0ad34b56a98_002full.jpg
Figure 2:
North-South long-section 681400mE, see results Table 1 for drill holes MPD-21-007, MPD-
21-008, MPD-21-010 to 013, MPD-21-015, MPD-21-016 and MPD-21-024MPD-21-001 to MPD-21-
004, MPD-21-006 & MPD-21-009
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3803/99991_e11bc0ad34b56a98_003full.jpg
Figure 3:
East-West cross sections at 5515075mN and 5515250mN see results Table 1 for drill holes
MPD-21-008 and MPD-21-010 to 016
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/3803/99991_e11bc0ad34b56a98_004full.jpg
4A
To view an enhanced version of 4A, please visit:
https://orders.newsfilecorp.com/files/3803/99991_e11bc0ad34b56a98_005full.jpg
4B
To view an enhanced version of 4B, please visit:
https://orders.newsfilecorp.com/files/3803/99991_e11bc0ad34b56a98_006full.jpg
Figure 4:
Examples of core from 2021 Drilling at MPD:
4A)
MPD-21-016 - Strongly mineralized
brecciated/silicified hornblende diorite with chalcopyrite-pyrite. Core is from a 104.2 metre intercept
reporting 0.48% Cu, 0.11 g/t Au and 1.41 g/t Ag from 297.8 to 402.0 metres
4B)
MPD-21-012 -
Bornite-chalcopyrite mineralization in fractured, porphyritic hornblende diorite. Core is from a 48.0
metre intercept reporting 0.58% Cu, 0.10 g/t Au and 0.97 g/t Ag from 413.0 to 461.0 metres. Images
are of selected intervals and do not represent all mineralization on the property.