Kodiak Resumes Drill Program at Its MPD Copper Gold Porphyry Project
Kodiak Resumes Drill Program at Its MPD
Copper Gold Porphyry Project
Vancouver, British Columbia--(Newsfile Corp. - March 2, 2022) - Kodiak Copper Corp. (TSXV: KDK)
(OTCQB: KDKCF) (FSE: 5DD1) (the "Company" or "Kodiak") announces that drilling is to commence
within the next week at the Company's 100% owned MPD copper-gold porphyry project in southern
British Columbia.
Highlights
Plans for 2022 include a large drill program with up to
25,000 metres of drilling in several target
areas
, as well as further geophysical and geochemical surveying, prospecting and geotechnical
studies
Drilling will commence at the Gate Zone high-grade discovery,
where systematic exploration
has intersected porphyry mineralization over 950 metres in length, down to a depth of 850 metres
and across a width of 350 metres to date
The Gate Zone remains open in multiple directions
and a recently conducted 3D Induced
Polarization (3D IP) geophysical survey has
identified high-priority drill targets for potential
extensions of mineralization
(Figure 1)
A one kilometre long "
look-alike" anomaly 600 metres to the southeast of the Gate Zone
represents a new target of significant size that was identified in the 3D IP survey and will also be
drilled
(Figure 1)
Other high-priority targets slated for drilling include Prime, Man, Dillard and Axe
which
exhibit similar regional geophysical and geochemical anomalies as the Gate Zone as well as
shallow mineralization from historic drilling, and have rarely been drill tested at depth (Figure 2)
Kodiak also expects
further results from its 2021 drill program in the near future and in Q2
2022
, for 12 holes remaining from 36 drilled (21,675 metres)
Claudia Tornquist, President and CEO of Kodiak said, "2022 promises to be another exciting year as
we are embarking on a large drill program. It is important to keep in mind that we are still in the early
stages of unlocking the potential of what appears a large, multi-center porphyry system at MPD. Not only
is there significant potential to further extend the Gate Zone but it will be very exciting to apply the
successful approach from Gate to multiple other high-priority drill targets on the property as we are
aiming to make further high-grade discoveries at MPD."
Figure 1:
Conductivity drape from 3D IP survey at 300 m below surface at Gate Zone. Image shows
potential to extend Gate east and southwest to depth, a conductive/structural link between Gate and
Prime; and a 1 km long parallel geophysical analogue to Gate situated 600 m to the southeast.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3803/115302_2757fa63a4b4fb82_002full.jpg
Figure 2:
Geology and Copper Porphyry Zones, MPD Property.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3803/115302_2757fa63a4b4fb82_003full.jpg
MPD is a large, consolidated land package (14,716 hectares) located near several operating mines in
the southern Quesnel Terrane, British Columbia's primary copper-gold producing belt. The project is
located midway between the towns of Merritt and Princeton, with year-round accessibility and excellent
infrastructure nearby. The Company has a multi-year, area-based exploration permit that authorizes new
drill sites and expanded exploration activity across the MPD property to 2026.
Jeff Ward, P.Geo, Vice President Exploration and the Qualified Person as defined by National
Instrument 43-101, has reviewed and approved the technical information contained in this release.
Kodiak believes historic results referenced herein to be from reliable sources using industry standards at
the time.
However, the Company has not independently verified, or cannot guarantee, the accuracy of
this historic information.
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.
The
Company's most advanced asset is the MPD copper-gold porphyry project in the prolific Quesnel Trough
in south-central British Columbia, Canada, where the Company made a discovery of high-grade
mineralization within a wide mineralized envelope in 2020.
Kodiak also holds the Mohave copper-
molybdenum-silver porphyry project in Arizona, USA, near the world-class Bagdad mine.
Kodiak's
porphyry projects have both been historically drilled and present known mineral discoveries with the
potential to hold large-scale deposits.
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/115302