Kodiak to Fly Airborne Geophysical Survey at MPD Copper-Gold Porphyry Project in Preparation for Drilling
Kodiak to Fly Airborne Geophysical Survey at MPD
Copper-Gold Porphyry Project in Preparation for Drilling
Vancouver, British Columbia--(Newsfile Corp. - April 8, 2020) - Kodiak Copper Corp. (TSXV: KDK) (FSE: 5DD1) (the
"Company" or "Kodiak") announces that it has contracted a ZTEM
TM
airborne
geophysical survey in preparation for the next
phase of drilling at its 100% owned MPD copper-gold porphyry project in southern BC.
Claudia Tornquist, President and CEO of Kodiak said, "Kodiak is in a very strong position, being fully funded and with a clear
exploration strategy at our advanced MPD project. This first airborne geophysical survey ever flown over the consolidated
property kicks off our 2020 exploration program to follow up on the Gate Zone discovery announced earlier this year. Historic
ground geophysical data shows significant anomalies across a large 10 km
2
area but only to a maximum depth of 250 metres,
and by completing this work we will be able to trace the continuation of these large anomalies down to over 1000 metres vertical
depth. This will be instrumental in prioritizing targets for a Phase II drilling program planned in early summer. Our interpretation is
that the porphyry centre or centres have not been discovered yet, which bodes well for high grades yet to be drilled. There is
plenty of opportunity for further discoveries and with a larger drill program and better information we are poised to generate
exciting results and build on the discovery success to date."
Kodiak's recent maiden Phase I drill program at MPD tested the vertical extent of historic copper-gold mineralization below
shallow historic drilling in the Prime area, which rarely tested below 200 metres depth. The program culminated in the discovery
of the new Gate Zone, with hole MPD-19-003 containing the highest grade copper-gold intervals in core ever reported in the 50-
year history of the property, and mineralization extending from near surface to over 800 metres vertical depth (see news release
dated Jan. 16, 2020).
In preparation for a larger Phase II drill program in early summer 2020, Kodiak has contracted Geotech Ltd. to fly a property-
wide ZTEM
TM
airborne electromagnetic-magnetic survey in April that covers 72 km
2
. The ZTEM
TM
data will map
resistivity/conductivity responses to over 1000 metres depth, enabling us to see below historic ground geophysical anomalies
and shallow copper-gold mineralization intersected in the previous drilling. Information from this survey will be crucial to
vectoring-in on potentially higher-grade porphyry centre(s) as well as characterizing the geological and structural controls on
porphyry mineralisation.
Figure 1 - Gate Zone:
Cross-sections of historic drilling and hole MPD 19-003.
The left panel is a colour contour of Cu% with
colourbars of Cu% (green) and Au g/t (red) in core. The right panel is a colour contour of historic ground Induced Polarization (IP)
geophysics. Note that limited depth of the
IP response reflects only shallow mineralisation in historic drilling, and not the longer
intervals with higher grades discovered at Gate.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3803/54258_d88e6d92b4c828db_002full.jpg
Figure 2- Dillard Area:
Cross-sections of historic drilling in the Dillard area.
The left panel is a colour contour of Cu% with
colourbars of Cu% (green) and Au g/t (red) in core. The right panel is a colour contour of historic ground Induced Polarization (IP)
electromagnetic chargeability. Note the limited depth of historic geophysics and drilling to date, showing potential for higher
grades at depth and along strike, similar to the Gate Zone.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3803/54258_d88e6d92b4c828db_003full.jpg
With the benefit of new ZTEM
TM
airborne data, the Phase II drill program will be designed to expand mineralization at the Gate
Zone using step-out drilling to target higher-grade mineralization along strike, and up dip to shallower depths (see Figure 1). It
will also test the depth and extent of significant mineralization noted at other shallow historic zones such as Dillard (see Figure 2)
and Dillard East. In addition to ongoing reprocessing of historic ground geophysics,
petrographic-geochemical studies will
be
performed on core to help prioritise targets. Kodiak is fully permitted with a multi-year, area-based exploration permit, and the
ability to work year round at the MPD Project.
Kodiak continues to monitor the evolving COVID-19 situation with respect to mineral exploration in BC. Protecting the health and
safety of our workforce and the communities we work in is our highest priority.
Prior to starting any field work, the Company will
ensure that appropriate operational procedures and social distancing protocols are in place which follow Federal and Provincial
government guidelines.
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.
For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360
or
.
On behalf of the Board of Directors
Kodiak Copper Corp.
Claudia Tornquist
President & CEO
About Kodiak Copper Corp.
Kodiak is focused on its portfolio of 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 in 2020. Kodiak also holds the Mohave copper-
molybdenum-silver porphyry project in Arizona, USA, near the world-class Bagdad mine. The Company's Trapper copper-gold
porphyry project is located in the northern Golden Triangle region of British Columbia.
All three of Kodiak's porphyry projects
have been historically drilled and present known mineral discoveries with the potential to hold large-scale deposits.
The Company also holds the advanced-stage Kahuna diamond project in Nunavut, Canada. Kahuna hosts a high-grade, near
surface inferred diamond resource and numerous kimberlite pipe targets.
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 the Discovery Group of Companies led by John Robins, one of the most successful mining entrepreneurs
in Canada.
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Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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"objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward
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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
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Company cannot give any assurance that they will prove correct.
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Actual results could differ materially from those
currently anticipated due to a number of assumptions, factors and risks.
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