Kodiak Provides 2023 Exploration Plans with New Drill Targets and 2022 Results
Kodiak Provides 2023 Exploration Plans with
New Drill Targets and 2022 Results
Vancouver, British Columbia--(Newsfile Corp. - February 28, 2023) - Kodiak Copper Corp. (TSXV:
KDK) (OTCQB: KDKCF) (FSE: 5DD1) (the "Company" or "Kodiak") today reports plans for its 2023
exploration program, together with results of geophysical and geochemical surveys, prospecting,
trenching and drilling from the 2022 exploration program on its 100% owned MPD copper-gold porphyry
project in southern British Columbia.
2023 Exploration Plans
Kodiak has identified
18 prospective target areas on the MPD Project. Only three of these
have seen significant drilling
by the Company to date: the Gate, Prime and Dillard Zones.
Figure 1
A large drill program of 25,000 metres planned in 2023 will focus on multiple new targets
with the goal of making one or more new discoveries
.
Target areas on Kodiak's original MPD claims, which comprise the northern half of the project
include the Man, Beyer, Dillard East, Blue, Sky and Eclipse areas.
Figure 1
Target areas at the Axe claims, which comprise the southern half of the project, include the 1516,
South and West Zones.
Figure 2
25-line kilometres of new 3D Induced Polarization (3D IP) surveying and a geochemical survey
with 1500 soil samples is planned in 2023 to advance newer prospects to drill-readiness.
New targets are primarily porphyry related copper-gold mineralization like the Gate Zone, but also
include new high-grade gold-silver trends like the Beyer Zone.
Highlights - Drill Targets, New Target Areas & 2022 Results
The Man area contains some of the strongest at-surface copper-gold mineralization discovered at
MPD by past operators. A new 3D Induced Polarization (3D IP)
geophysical drill target has
been identified in the Man area extending from surface to 600 metres depth
below historic
shallow copper-gold identified in drilling and trenching.
Figures 1 and 3
Multiple porphyry copper-gold mineralization centres
underlie the Axe claims and prior to the
Gate Zone discovery, the Axe claims
hosted the highest grade copper-gold values
historically reported in drill core
at what is now the MPD property. The
highly prospective
1516 Zone has been confirmed to host elevated copper, gold and molybdenum values
through Kodiak's 2022 soil and bedrock sampling programs and has been prioritized for drilling.
Figures 2 and 4
Like Kodiak's pre-discovery observations at the Gate zone,
shallow historical drilling at Axe's
South zone ended in significant copper grades and well-developed porphyry
mineralization,
which will be drill tested at further depth
.
Figures 2 and 5
Work on the new high-grade gold-silver Beyer discovery
(
see news release December 5,
2022)
)
will include additional trenching and shallow drilling
to determine structural controls
and orientation of this wide hydrothermal zone, as well as further exploration further along the
associated 2.2 kilometre long, 750 metre wide gold-in-soil corridor.
Two large new 2+ kilometre-long geochemical trends with confirmatory copper-gold
mineralized bedrock samples have been identified
in the southern MPD claims, the Sky and
Blue trends.
Figures 1 and 7
The new Eclipse showing includes high-grade copper-gold mineralized bedrock grab samples on
the eastern MPD claims. A surface sample collected by Kodiak assayed
3.96% copper, 0.61 g/t
gold and 64.4 g/t silver
. The area has never been drilled.
Figures 1 and 6
. Also see
Table 1
which includes highlights of new bedrock prospecting samples taken across the property.
Drill results at the Dillard Zone continue to intersect long intervals of shallow copper-gold
mineralization similar to previous results from this area. Results are provided in
Figure 8
and
Tables 3 and 4
. To date a broad area of mineralization to 530 metres depth over a strike of 900
metres has been confirmed.
Claudia Tornquist, President and CEO of Kodiak, said, "We are getting ready to commence a big drill
program in March, in what will be an important year for Kodiak. Until now we drilled primarily at and
around our first discovery, the Gate Zone which we have successfully expanded to significant size. In
2023 we will broaden our focus to drill a suite of compelling new targets with equally as much potential.
We will replicate the approach we took at the Gate Zone with the aim to discover one or several more
high-grade porphyry centres and demonstrate the size potential of what we believe is a district-scale
multi-centre porphyry system at MPD. All the pieces are in place for this to be a rewarding year for our
shareholders. I would like to extend a big thank you to Kodiak's hard-working team whose track record
speaks for itself and to the First Nations we work with for all their contributions which are integral to our
success."
Figure 1:
MPD claim block (north) showing multiple untested target areas highlighted by kilometre-
scale, copper-in-soil trends (colour contour - ppm), and copper-gold in prospecting samples
(squares).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3803/156472_aadb07eac4271973_002full.jpg
Figure 2:
Axe claim block (south) showing multiple target areas highlighted by magnetic anomalies
and historic drill intercepts (left) and historic copper-in-soil trends (right) confirmed by KDK at 1516
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3803/156472_aadb07eac4271973_003full.jpg
Drill Targets - 3D Induced Polarization (3D IP) Survey
Kodiak contracted SJ Geophysics Ltd. to conduct a two-phase DC Resistivity/Induced Polarization
(3DIP) survey on the MPD Project in 2022 (see
Figure 1
).
Results include:
In the Man Zone, new 3D IP anomalies (chargeability and resistivity) define a drill target to
a depth of 600 metres. Figure 3
Much like the Gate Zone, these responses coincide with, and extend below, significant copper-
gold grades reported in historic drilling and trenching, thereby
highlighting the potential to
expand Man mineralization to depth
.
The new 3D IP data will also
assist drilling at the Beyer Zone and the associated 2.2-
kilometre-long gold in soil trend
.
Figure 3:
Cross-section of 2022 3D IP survey at Man target area looking north. Section shows
untested coincident resistivity and chargeability high down to 600 metre depth, below historic drilling
and trenches containing significant copper and gold.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3803/156472_aadb07eac4271973_004full.jpg
Drill Targets - Axe Claims
The Axe claims host a porphyry complex comprised of at least four drill-proven copper-gold
porphyry centres and other untested geochemical-geophysical anomalies
(see
Figure 2
) and
have potential for additional discoveries like the Gate Zone.
In preparation for drilling, Kodiak conducted
its first exploration work on the Axe claims in 2022 through a program of confirmatory mapping,
prospecting, soil sampling and relogging of select historic core.
Results include:
Confirmation of significant copper-gold-molybdenum anomalies in soil at the 1516 target
area,
situated within a broader 2200 by 400 metre anomalous zone identified by previous
operators
. Figure 4
Like the Gate Zone, the 1516 area also exhibits
coincident chargeability and conductivity
geophysical anomalies
situated on a north westerly trending magnetic low structural break.
Several targets on the Axe claims, including the South and West Zones
have significant copper
grades and well-developed porphyry mineralization that could continue to depth (see
Figure 5
).
Prior to the Gate Zone discovery, the Axe claims reported the highest-grade copper-gold values in
drill core at what is now Kodiak's MPD property. Examples of historic intercepts reported include
111 metres of 0.56% copper at the Adit target and 124.5 metres of 0.38% copper and 0.22 g/t
gold at the West target.
Figure 4:
Axe claim block (MPD Project south),
2022 soil geochemical results confirming coincident
copper-gold trend at the 1516 target area.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3803/156472_aadb07eac4271973_005full.jpg
Figure 5:
Examples of hole DDH-18-02 historic core from 2018 drilling at Axe claims, South Zone,
showing quartz-monzonite, potassic and magnetite alteration and mineralized quartz veining.
TOP:
Core at 492 metres downhole assaying 0.28% Cu,0.03 g/t Au and 2.58 g/t Ag from 491 to 493 metres.
BOTTOM: Cu-Au-Ag grades increasing below 596 metres.
Core photo is at 627.5 metres downhole.
Core assaying 0.37% Cu, 0.16 g/t Au and 3.15 g/t Ag from 626 to 628 metres.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3803/156472_aadb07eac4271973_008full.jpg
Prospecting & Trenching Results
The Company collected a total of 187 rock samples from prospecting and trenching across the property
in 2022.
Rock samples collected over broad target areas continue to return significant copper
mineralization with associated gold and silver.
A select top eleven assays from prospecting, with
rock type descriptions, are included as
Table 1
.
Results include:
The highest copper assay from the 2022 prospecting program
assayed
3.96 % Cu, 0.61 g/t
Au and 64.4 g/t Ag
from rock sample 222202
.
This new showing is called the Eclipse target area.
Figures 1 and 6
Eclipse is a magnetite-biotite-actinolite-rich altered volcano-sedimentary outcrop (possible
hornfels) with significant chalcopyrite and fine-grained magnetite veins, located in a relatively
underexplored part of the property six kilometres southeast of the Gate Zone
.
Four trenches in the Dillard East area also yielded significant mineralization, with the best samples
assaying
0.17% Cu, 1.30 g/t Au and 1.53 g/t Ag over 10 metres and 0.78% Cu, 3.22 g/t Au
and 4.83 g/t Ag over 2 metres
.
Significant gold was also returned from two trenches at the new Beyer Zone gold discovery,
3.02
g/t gold and 24.18 g/t silver over 12 metres
(
see news release December 5, 2022
).
Figure 6:
Prospecting sample from new Eclipse target located in an underexplored area 6 kilometres
southeast of the Gate Zone. Sample #222202 assayed
3.96 % Cu, 0.61 g/t Au and 64.4 g/t Ag
from
magnetite-biotite-actinolite-rich altered volcano-sedimentary rock with thick fine-grained magnetite
veins
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3803/156472_aadb07eac4271973_009full.jpg
Table 1: 2022 MPD Prospecting Result Highlights
Sample ID
Target
Copper %
Gold g/t
Silver g/t
Rock Type
MPD Claims
137075
Star
0.38
0.68
1.8
Diorite
222202
Eclipse
3.96
0.61
64.2
Hornfels w/ Magnetite
137065
Eclipse
0.68
0.12
10.4
Andesite
222206
Eclipse
0.46
0.08
7.4
Hornfels w/ Magnetite
137092
Dillard East
0.55
4.62
14.7
Vein
137093
Dillard East
0.29
1.43
1.8
Vein
137083
Beyer
0.02
2.83
27.1
Vein
137084
Beyer
0.01
14.15
9.4
Lag Deposit
Axe Claims
137099
Axe West
0.10
3.75
1.7
Diorite