Kodiak's First Holes at South Zone Extend Copper Mineralization to Mid Zone and to Depth: 0.32% CuEq over 234 m from Surface Within 0.17% CuEq over 1053 m
Kodiak's First Holes at South Zone Extend
Copper Mineralization to Mid Zone and to
Depth: 0.32% CuEq over 234 m from Surface
Within 0.17% CuEq over 1053 m
Vancouver, British Columbia--(Newsfile Corp. - December 7, 2023) - Kodiak Copper Corp. (TSXV:
KDK) (OTCQB: KDKCF) (FSE: 5DD1) (the "Company" or "Kodiak") today reports results from this
year's drill program at its 100% owned MPD copper-gold porphyry project in southern British Columbia.
Assay results from the
first two holes drilled at the South Zone
(see figure 1) are presented in this
release.
Highlights - Figures 2, 3 and 4, Table 1
Kodiak's first two drill holes at the South Zone have
significantly extended porphyry
mineralization and linked historic shallow copper at the South and Mid Zones with a near
continuous mineralized intercept in new drilling.
Drill hole AXE-23-014 at the South Zone intersected
0.32% CuEq* over 234 metres from
bedrock surface
,
within a broader zone of 0.17% CuEq* over 1053 metres, extending from
9 to 1062 metres downhole.
Holes AXE-23-012 and 014 confirmed copper mineralization
along 900 metres of strike and
from surface to over 775 metres depth.
Porphyry mineralization at the South Zone correlates well with a
2.3 kilometre long north-
trending copper-in-soil anomaly
downslope to the east and chargeability responses from
historic 3D Induced Polarization (3D IP) surveying along trend.
Kodiak's South Zone drilling, combined with historic soil geochemistry and 3D IP, suggests that
the
South, Mid and Adit Zones may be part of a much larger system that comprises all
three zones.
Kodiak's 2023 exploration program is now complete. 18,562 metres in 33 holes were
drilled
and the Company will provide further results from drilling as well as from 3D IP, soil
sampling and prospecting over the upcoming months.
Claudia Tornquist, President & CEO of Kodiak said, "After our success at the West and Man Zones, the
2023 drilling has now extended a third porphyry zone to depth and along strike at the South Zone, once
again demonstrating significant potential for larger copper-gold zones at MPD. We are particularly
excited by the continuous copper in core linking the South and Mid Zones, which we interpret as a much
larger system that could stretch all the way to the Adit Zone. Future work will include infill 3D IP and
systematic drilling along this trend to guide exploration toward higher grade portions of the system."
Figure 1:
2023 Porphyry Zones and Target Location Map - MPD Project, Southern BC.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/3803/190111_b775f00454c5fb02_002full.jpg
Figure 2:
South Zone drill plan map showing new 2023 holes with assays (yellow traces).
Bar graphs
show downhole copper (green) and gold (red). Background is colour contour historic copper-in soil
data.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/3803/190111_b775f00454c5fb02_003full.jpg
Figure 3:
South Zone north-south long section at 678650m E (looking west). See Table 1 for results
from new holes AXE-23-012 and AXE-23-014.
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/3803/190111_b775f00454c5fb02_004full.jpg
Figure 4:
MPD Project plan map showing South Zone new 2023 holes with assays (yellow traces) and
several copper-in-soil trends over 2 km in length (dashed ovals). Background is colour contour
historic copper-in soil data.
To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/3803/190111_b775f00454c5fb02_005full.jpg
South Zone Drill Results - Figures 2 and 3, Table 1
Hole AXE-23-014 was drilled northward from the South Zone and below shallow historic holes that
make up the Mid Zone.
The hole intersected
0.31% Cu, 0.09 g/t Au and 1.23 g/t Ag (0.32%
CuEq*) over 234 metres.
This intercept is within a broader envelope of 0.17% Cu, 0.05 g/t Au
and 0.80 g/t Ag (0.17% CuEq*) over 1053 metres,
which links both the South and Mid Zones
from bedrock at 9 metres to 1062 metres downhole. Figure 5.
Hole AXE-23-012 was drilled to the southeast, along the flank of a magnetic anomaly and below a
large copper in soil response to the east. The hole intersected
0.24% Cu, 0.07 g/t Au and 1.49
g/t Ag (025% CuEq*) over 45 metres
within a broader envelope of 0.15% Cu, 0.04 g/t Au and
0.85 g/t Ag (0.16% CuEq*) over 813 metres.
Figure 5.
Both holes are interpreted to be within the broad envelope of a much larger north-south trending
system linking the South, Mid and Adit Zones, confirmed by the 2.3-kilometre-long copper in soil
anomaly downslope to the east.
Figure 4.
Figure 5:
Examples of core from South Zone A) AXE-23-014: Fine disseminated pyrite-chalcopyrite-
magnetite in brecciated intermediate volcanics and tuff beds at 740 m.
To view an enhanced version of Figure 5 A), please visit:
https://images.newsfilecorp.com/files/3803/190111_figure5a.jpg
Figure 5:
Examples of core from South Zone B) AXE-23-012: Pyrite-chalcopyrite in quartz and as
patches in altered volcanics with garnet at 372 m.
To view an enhanced version of Figure 5 B), please visit:
https://images.newsfilecorp.com/files/3803/190111_figure5b.jpg
Table 1:
Weighted average grade composite intervals for 2023 drill holes AXE-23-012 and AXE-23-
014 (South Zone). See Figures 1, 2 and 3
Hole ID
From
(m)
To
(m)
Interval**
(m)
% Cu
Au g/t
Ag g/t
%CuEq*
AXE-23-014
9
1062
1053
0.17
0.05
0.80
0.17
includes
17
251
234
0.31
0.09
1.23
0.32
includes
67
155
88
0.38
0.11
1.25
0.40
AXE-23-012
9
822
813
0.15
0.04
0.85
0.16
and includes
356
401
45
0.24
0.07
1.49
0.25
* Copper equivalent grades (%CuEq) are for comparative purposes only. No metallurgical work has been done at the MPD Project to date and
metal recoveries used in equivalency calculations are assumed from information on comparable deposits and/or mines. Metallurgical recovery
assumptions are: 88% for copper, 67% for gold and 68% for silver. Metal prices used in equivalency calculations are solely for relative weighting
factors. Metal prices of US$3.75/lb copper, US$1,950/oz gold, and US$24/oz silver, using the formula: %CuEq = Cu % x 88% rec. + (Au g/t x 0.76
x 67% rec.) + (Ag g/t x 0.0093 x 68% rec.)
**Intervals are downhole drilled core intervals.
Drilling data to date is insufficient to determine true width of mineralization.
Table 2:
2023 MPD Drill Collar Information (South Zone)
Hole ID
Easting (UTM
Z10)
Northing (UTM
Z10)
Elevation (m)
Azimuth
(degrees)
Dip (degrees)
EOH (m)
Target
Reported
AXE-23-012
678515
5501650
1310
100
-68
849
South
2023-12-07
AXE-23-014
678515
5501650
1310
345
-57
1062
South
2023-12-07
MPD is a large land package (226 square kilometres) 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.
QA/QC Procedures
All core samples were sent to ALS Canada Ltd. (ALS) in North Vancouver, BC for preparation and
analysis.
ALS meets all requirements of International Standards ISO/IEC 17025:2005 and ISO
9001:2015 for analytical procedures.
NQ size core was split and sampled over approximately three
metre intervals. Samples were analyzed using ALS's Fire Assay Fusion method (Au-AA24) with an AA
finish for gold and by a 48-element four acid digest ICP-AES analysis (MS61) with additional analysis for
Ore Grade Elements (ME-OG62) and Ore Grade Cu (Cu-OG62).
Results were reported in parts per
million (ppm) and converted to percent (%), or grams per tonne (g/t) when applicable. In addition to ALS
Laboratory quality assurance- quality control (QA/QC) protocols, Kodiak implements an internal QA/QC
program that includes the insertion of sample blanks, duplicates, and standards in the field.
Jeff Ward, P.Geo, Vice President Exploration and the Qualified Person as defined by National
Instrument 43-101, has approved and verified the technical information contained in this news release.
The historic data referenced herein is believed to be from reliable sources using industry standards at
the time, based on Kodiak's review of available documentation and select verification work. However,
the Company has not independently validated all historic work, and the reader cautioned about its
accuracy.
Kodiak reports %CuEq for comparative purposes only and as such, past reporting assumed 100%
metallurgical recovery in equivalency calculations.
For more accurate reporting going forward, the
Company adjusted equivalency calculations in 2023 to include metallurgical recoveries from comparable
deposits or mines, as referenced in the footnote of Table 1.
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 that have been
historically drilled and present known mineral discoveries with the potential to hold large-scale deposits.
The Company's most advanced asset is the MPD copper-gold porphyry project in the prolific Quesnel
Trough in south-central British Columbia, Canada, a mining district with producing mines and excellent
infrastructure. MPD has all the hallmarks of a large, multi-centered porphyry system. Kodiak discovered
a high-grade porphyry centre of significant size at the Gate Zone and is now systematically testing further
targets with similar discovery potential. Drilling to date has successfully outlined substantial envelopes of
porphyry mineralization at the West, Man and South Zones as Kodiak continues to demonstrate the
district-scale potential of the MPD project. The Company also holds the Mohave copper-molybdenum-
silver porphyry project in Arizona, USA, near the world-class Bagdad mine.
Kodiak's founder and Chairman is Chris Taylor who is well-known for his gold discovery success with