Kodiak Intersects Shallow Higher-Grade Copper Gold Mineralization in First Holes at Dillard, Confirms Significant Porphyry Target: 0.63% CuEq over 21.0 m, Within 0.23% CuEq over 381.1 m
Kodiak Intersects Shallow Higher-Grade
Copper Gold Mineralization in First Holes at
Dillard, Confirms Significant Porphyry Target:
0.63% CuEq over 21.0 m, Within 0.23% CuEq
over 381.1 m
Vancouver, British Columbia--(Newsfile Corp. - May 4, 2022) - Kodiak Copper Corp. (TSXV: KDK)
(OTCQB: KDKCF) (FSE: 5DD1) (the "Company" or "Kodiak") today reports drill results from the 100%
owned MPD copper-gold porphyry project in southern British Columbia.
Results from the final seven
holes drilled at MPD in 2021 are presented in this release. The fully funded 2022 drill program of up to
25,000 metres is now underway.
The Company's
first two holes
testing the
Dillard
porphyry target
intersected significant copper-
gold mineralization from bedrock surface to 530 metres depth,
including intervals of
higher-grade
copper-gold-silver mineralization. They represent the best drill results reported from the Dillard area to
date with better grade x width than any of the historic holes, and confirm Dillard as a substantial porphyry
target.
In addition, drilling into the
southern margin of the Gate Zone extended the known strike length of
mineralization to one kilometre.
Both the Dillard and Gate Zone porphyry targets remain open to
extension in multiple directions and will be further tested as part of the 2022 drill campaign.
First Drilling at the Dillard Zone
(complete results are presented in
Table 1, and Figures 1 and 2)
:
The Dillard target consists of a
2.7 kilometre long
copper-in-soil anomaly with some, shallow
historical drilling that had confirmed a porphyry system. The Dillard target is
almost three times
the strike length
of the Gate Zone copper-in-soil anomaly.
Figure 1
Based on the Kodiak's Gate Zone discovery, the Company's exploration model for the Dillard Zone
comprises
one or more
higher-grade porphyry mineralization centres within a multi-
kilometre mineralized envelope.
Kodiak's first two drill holes support the potential for this
model.
Kodiak's first Dillard drill hole
MPD-21-034, intersected 28.8 metres of 0.36% Cu, 0.16 g/t Au
and 0.24 g/t Ag (0.47% CuEq*) within a broader 556.5 metre interval of 0.15% Cu, 0.08 g/t
Au and 0.36 g/t Ag (0.20% CuEq*).
The second drill hole,
MPD-21-035, intersected 21.0 metres of 0.52% Cu, 0.17 g/t Au and 0.79
g/t Ag (0.63% CuEq*) within a broader 381.1 metre interval of 0.18% Cu, 0.08 g/t Au and
0.28 g/t Ag (0.23% CuEq*). Figure 5
These maiden holes confirm that higher-grade mineralization is present at Dillard which
occurs at shallow depths ranging from 86.0 to 203.0 metres downhole.
Kodiak will continue testing Dillard in 2022 and plans to drill a minimum of 10-15 further
holes into this zone.
Similar to the methods applied at the Gate Zone discovery, ongoing results
will inform a three-dimensional model that will facilitate targeting of higher-grade mineralization
within the larger Dillard target.
A 3D IP survey will be conducted in May over the Dillard Zone. As at the Gate Zone this
will be a valuable tool for drill targeting.
Claudia Tornquist, President and CEO of Kodiak said, "Due to the significant multi-kilometre scale of
the Dillard copper target, the immediate discovery of higher-grading copper mineralization in our first
two drill holes is an exciting new development that we are eager to follow up with more drilling in 2022.
We are looking forward to applying the same systematic approach that led to our Gate Zone discovery
success to Dillard and several other highly prospective target areas as we are aiming to unlock their
potential and make more discoveries throughout 2022 and beyond."
Gate Zone Extension
(complete results are shown in Table 1, Figures 3 and 4):
New drill hole MPD-21-030 at Gate intersected a broad
457 metre interval of 0.15% Cu,
0.04 g/t Au and 0.14 g/t Ag (0.17% CuEq*) including 48 metres of 0.25% Cu, 0.07 g/t Au
and
0.06 g/t Ag (0.29% CuEq*), extending the Gate Zone envelope to over one kilometre of
strike length (north-south).
Results from all holes reported herein from the Gate Zone continue to recognize patterns
of strongly mineralized porphyry alteration, sulphide zoning and the possible controls for
higher-grade domains surrounded by lower grade shells
.
All results have now been reported from the 2021 drill program at MPD. A large drill program of up to
25,000 metres in 2022 is currently underway, utilizing two drill rigs. Additional 3D IP surveying and infill
soil geochemical sampling is scheduled to take place over the next few months. This work will further
evaluate Gate and parallel high-priority drill targets nearby, as well as targets in the Dillard, Man and Axe
areas, which exhibit similar geophysical and geochemical features, including copper-gold mineralisation
reported from historic trenches and drilling.
Figure 1:
Dillard Zone plan map showing 2021 drilling with assay results. Background is colour
contoured historic copper-in soil data.
To view an enhanced version of Figure 1 please visit:
https://orders.newsfilecorp.com/files/3803/122602_39979292f44f3a86_002full.jpg
Figure 2:
Dillard Zone north-south cross section at 683350mE showing Kodiak's 2021 drilling and
shallow historic drill holes. New drilling at Dillard has traced porphyry-related mineralisation down to
530 m depth.
See results Table 1 for new drill holes MPD-21-034 and MPD-21-035.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3803/122602_39979292f44f3a86_003full.jpg
Table 1: Weighted assay intervals for holes MPD-21-034, MPD-21-035 (Dillard) and MPD-21-030,
MPD-21-032, MPD-21-033 and MPD-21-020 (Gate). See Figures 2 and 4
Hole ID
From (m)
To (m)
Interval** (m)
% Cu
Au g/t
Ag g/t
%CuEq*
Dillard Zone
MPD-21-
034
21.0
577.5
556.5
0.15
0.08
0.36
0.20
includes
21.0
296.0
275.0
0.21
0.10
0.18
0.27
includes
21.0
146.0
125.0
0.25
0.12
0.21
0.32
includes
86.0
114.8
28.8
0.36
0.16
0.24
0.47
MPD-21-
035
21.0
402.1
381.1
0.18
0.08
0.28
0.23
includes
21.0
278.0
257.0
0.23
0.10
0.36
0.29
includes
101.0
221.0
120.0
0.27
0.11
0.48
0.34
includes
182.0
203.0
21.0
0.52
0.17
0.79
0.63
Gate Zone
MPD-21-
030
349.0
806.0
457.0
0.15
0.04
0.14
0.17
includes
466.0
806.0
340.0
0.17
0.05
0.10
0.20
includes
619.0
802.0
183.0
0.20
0.06
0.12
0.24
includes
676.0
724.0
48.0
0.25
0.07
0.06
0.29
MPD-21-
032
414.0
594.6
180.6
0.14
0.04
0.36
0.16
includes
507.0
594.6
87.6
0.23
0.05
0.44
0.26
includes
531.0
561.0
30.0
0.36
0.07
0.87
0.41
MPD-21-
033
464.0
536.0
72.0
0.17
0.08
1.01
0.23
and
611.0
752.9
141.9
0.17
0.04
0.47
0.20
includes
695.0
749.0
54.0
0.27
0.06
0.76
0.31
MPD-21-
020
33.0
159.0
126.0
0.19
0.06
0.28
0.23
includes
36.0
129.0
93.0
0.23
0.07
0.35
0.27
includes
60.0
120.0
60.0
0.26
0.07
0.43
0.30
*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 mineralisation.
Figure 3:
Gate Zone plan map showing all 2021 drilling with assay results. Background is contoured
historic copper-in soil data. Porphyry-related mineralisation
at Gate has been traced down to 850 m
depth, across a width of 350 m (east-west) and has been extended to 1 km in length (north-south)
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/3803/122602_39979292f44f3a86_004full.jpg
Figure 4:
Gate Zone north-south long section at 681400mE. See results Table 1 for new drill holes
MPD-21-030, MPD-21-032, MPD-21-033, and MPD-21-020
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/3803/122602_39979292f44f3a86_005full.jpg
Figure 5:
Example of core from 2021 Drilling at Dillard:
MPD-21-035:
Altered-brecciated andesite
with
disseminated and fine veinlets of chalcopyrite-pyrite associated blue-gray quartz stringers. Core is at
186 metres within a 21 metre intercept reporting 0.52% Cu, 0.17 g/t Au and 0.79 g/t Ag from 182 to
203 metres.
To view an enhanced version of Figure 5, please visit:
https://orders.newsfilecorp.com/files/3803/122602_39979292f44f3a86_006full.jpg
Table 2: 2021 MPD Drill Collar Information
Hole ID
Easting
(UTM
Z10)
Northing
(UTM
Z10)
Elevation (m)
Azimuth
(degrees)
Dip
(degrees)
EOH
(m)
Reported
MPD-21-001
681755
5515769
1258
270
-67
766
2021-07-07
MPD-21-002
681756
5515769
1258
270
-50
750
2021-07-07
MPD-21-003
681415
5515638
1237
165
-60
648
2021-07-07
MPD-21-004
681415
5515638
1237
115
-67
641
2021-07-07