Kodiak Provides Update on 2022 Exploration Program at MPD Copper-Gold Porphyry Project in Southern British Columbia
June 10, 2022 â€“ Vancouver, British Columbia â€“ Kodiak Copper Corp. (the â€œCompanyâ€ or â€œKodiakâ€) (TSX-V: KDK, OTCQB: KDKCF, Frankfurt: 5DD1) today provides an update on its fully funded 2022 exploration program at its 100% owned MPD copper-gold porphyry project (â€œMPDâ€) in Southern British Columbia.
Plans for 2022 include up to 25,000 metres of drilling as well as 3D IP surveying and soil geochemical sampling. Kodiak recommenced drilling at MPD in March and added a second drill rig shortly thereafter (see news release dated April 28, 2022). The program is progressing well. Highlights so far include:
- New drilling in 2022 at the Gate Zone has intersected prospective, sulphide-bearing, porphyritic host rock between Gate and the historic Prime Zone to the north, and to 875 metres depth at the south end of the Gate Zone (see Figure 1). Gate remains open in multiple directions and further drilling in 2022 will focus on extending it.
- Drilling is on schedule and the Company has completed 11 holes totalling 7,065 metres as of June 8. Both drill rigs are currently focused on extending the Gate Zone. Drills will be redeployed or additional drills added to other priority areas as the 2022 program progresses.
- Core samples are being shipped to ALS Canada Ltd. in North Vancouver, BC for preparation and final analysis. Assay results from the 2022 drilling will start being reported in late June.
- 2022 drilling will also test numerous other priority target areas, including a new one kilometre long "look-alike" 3D Induced Polarization (IP) response near Gate, and high-priority targets in the Prime, Man, Dillard and Axe areas which exhibit similar geophysical and geochemical signatures as the Gate Zone as well as shallow mineralization from historic drilling.
- A new 3D IP geophysical survey is underway that will cover 7.5 square kilometres, extending southward from the Gate Zone to the Man and Dillard target areas (see Figure 2). Similarly, soil geochemical surveys will follow-up new kilometre-scale copper-gold anomalies discovered in 2021 (see news release February 3, 2022). 3D IP and soil geochemistry will be important complementary tools for drill targeting elsewhere at MPD.
Claudia Tornquist, President and CEO of Kodiak said, â€œWe are excited to already see potential to further expand the high-grade Gate Zone in just the first few months of the 2022 drill campaign. New and deeper 3D IP geophysical data will not only allow us to refine our drilling at Gate, but will also accelerate our targeting at the Man, Dillard and Axe areas which are slated for drilling this season and have the potential for new high-grade discoveries. We also anticipate that our systematic exploration will recognize completely new target areas at MPD . Kodiak is fully funded for the companyâ€™s 2022 exploration program and our shareholders can expect a steady flow of results throughout the remainder of the year."