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REM are drilling a couple of targets (Thomson Ni and shearhosted gold) on the Assean Lake Prop.
http://www.stockhouse.ca/news/news.asp?tick=REM&newsid=2671062
Geophysics says the Ni goes deep.
http://www.remcorp.info/L7+00E-Model.pdf
Geochem - plot it would be nice to know the scale or metres.
http://www.remcorp.info/Wood_NiRR.pdf
Trench Geophyics plot
http://www.remcorp.info/L28+00E%20PDF.pdf
I just literally come from an Genco presentation here in Amsterdam.
Interesting company with a nice operation, looks like there will considerable upside protential. I like the lava covered portion of their claims and the fact that there has been no historical work on them.
approx 17 million MC for a producer catch my eye.
Just wish I had some faith in silver - I don't.
Thanks for that.
Hmmm - looking good Huston!
If the Pyrite is impregnated with gold (.5 gram is enough for me) this puppy will fly.
KODIAK INTERSECTS 118 METRES OF MINERALIZATION
2/28/05
Vancouver, BC February 28, 2005
FSC / Press Release
KODIAK INTERSECTS 118 METRES OF MINERALIZATION
Vancouver, British Columbia CANADA, February 28, 2005 /FSC/ - Kodiak Exploration Limited (TSX - VX: KXL), is pleased to report highlights from its current diamond drill program on its 100 percent owned Knucklethumb project. Out of 29 planned drill holes, Kodiak has successfully completed the first four diamond drill holes on the 'Vent' area.
Hole KL-05-04 intersected 118 metres of disseminated to massive sulphides confirming IP anomaly KL-O6. This hole was drilled 1,200 metres south of hole KL-05-01 to test a strong chargeability anomaly (KL-06) near the southern edge of the Vent felsic pile. KL-06 is 600 metres long; open to the west and up to 100 metres wide. From 16 to 38 metres, drilling intersected 22 metres of quartz-sericite schist containing 5 - 10% disseminated pyrite.
From 38 metres to 66 metres, drilling intersected 28 metres containing several zones of 2-10 metres thick of semi-massive to massive (60 - 90%) pyrite with sericite and kyanite and from 66 to 114 metres, 48 metres of felsic fragmental rock with strong pervasive silica and sericite alteration and fine grained possibly felspar alteration similar in appearance to that at Hemlo, containing 5 - 40% disseminated and banded pyrite, and averaging approximately 15% pyrite. Between 114 and 134 metres, 20 metres of felsic fragmental rock containing an estimated 5% disseminated pyrite and local bands of semi-massive pyrite up to 50 centimetres wide. This interval is altered with silica, sericite and biotite.
Hole KL-05-01 was designed to test IP chargeability anomaly KL-13 (600 metres long, up to 25 metres wide) and IP anomaly KL-14 (900 metres long and up to 25 metres wide) associated with magnetic humus geochemical anomalies in the central part of the Vent. The hole intersected two sulphide-bearing intervals between down-hole depths of 29.0 to 35.15 metres and 108.9 to 118.7 metres which confirmed the two IP chargeability anomalies.
The upper 6.15 metre interval contained an estimated average of 10% pyrite occurring as fractures and disseminations in an intensely silicified and kyanite-altered felsic crystal tuff. Minor fuchsite and sphalerite were observed. This interval confirms IP anomaly KL-13.
The deeper 9.85 metre sulphide intersection included a 2.75 metre interval of sericite-altered quartz porphyry similar in appearance to that at Hemlo, with minor fuchsite and trace amounts of sphalerite, and containing about 5% quartz-pyrite veinlets. Following this was a 7.1 metre interval containing 4.2 metres section of quartz-pyrite-flooded chlorite-magnetite alteration zone containing an estimated 10-15% pyrite and a second 2.9 metres interval of quartz porphyry similar to the one above. This drill hole confirmed IP anomaly KL-14. Core from these holes have been sent for analysis.
The current drill program is designed to test a series of stacked IP chargeability and geochemical anomalies on the recently discovered largest known alteration system in Northwestern Ontario. Drilling will also test an adjacent stratigraphic horizon on the southern edge of the Vent that is interpreted as the stratigraphic top of and possible cap to, the alteration system seen at the Vent. Individual IP chargeability zones range from 200 metres to 900 metres in strike length, and up to 100 metres in width.
Core from two of these holes will be available for viewing at Kodiak's booth, number 2137, at the upcoming Prospectors and Developers Convention in Toronto, March 6-9. To view photographs of the highlighted drill intersections, please visit the homepage of Kodiak's website at www.kodiakexp.com
The Knucklethumb property is located 210 kilometres northeast of Thunder Bay, Ontario, is 100 per cent controlled and road accessible. Maps, photographs, geological details and additional information may be reviewed on Kodiak's website at www.kodiakexp.com. The qualified person for this project, under the definitions established by National Instrument 43-101, is Christopher Marmont, MSC, PGeo.
KODIAK EXPLORATION LIMITEDOn behalf of the Board of DirectorsWilliam S. Chornobay,Director, President & COO
For further information contact:(604) 688-9006 or by email at info@kodiakexp.com
Suite 1205 - 700 West Pender StreetVancouver, B.C. V6C 1G8*Fax: (604) 688-9029www.kodiakexp.com
This release has been prepared by management - TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the corporations control which may cause actual results, performance or achievements of the corporation's to be materially different from the results, performance or expectation implied by these forward looking statements.
worth a 50% rise? Hmmmm.
ME ME ME ME ME not in MMI.
My initial thoughts were "guilty as charged"
Still time to buy some AQI?
IMA Exploration Inc: Frivolous Lawsuit Slows Canadian Company's Development of World Class Silver Discovery
E-mail or Print this story
14 February 2005, 2:24pm ET
VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 14, 2005--IMA Exploration Inc. (TSX VENTURE:IMR)(OTCBB:IMXPF)(FWB:IMT)(BERLIN:IMT) announces that the Company has offered $100,000 - "nuisance value" - to Aquiline Resources Inc. to settle their ongoing lawsuit. "We have offered Aquiline a nuisance value sum to put this nonsense behind us," explained Mr. Grosso, President and CEO. "We have to get back to running our company and focus our energies on the development of Navidad, our extraordinary silver discovery in Argentina."
IMA announced the discovery of its 100% owned Navidad silver project in Patagonia, Argentina, in March 2003. To date, IMA has defined an Indicated Resource of 268 million ounces of silver and 1.1 million tonnes of lead (50 g/t cut off, 80.8 M tonnes at 103 g/t silver and 1.45% lead), quickly making it one of the world's largest and purest silver deposits. In a suit filed in British Columbia in March 2004, Aquiline alleged IMA used confidential information to acquire Navidad.
"There is absolutely nothing to the claim," Mr. Grosso said. "If this ever gets to court, we are confident it will be thrown out. But we have a responsibility to our shareholders and we must focus on making the potential of Navidad a reality, not on legal fees to fight opportunistic lawsuits."
Mentioned Last Change
IMXPF 3.14 0.06dollars or (1.94%)
IMA is well financed to continue to test the numerous exploration targets at Navidad with significant drill programs. The Company has over 10 years experience in Argentina and is dedicated to the exploration and development of socially, economically and environmentally responsible mining opportunities.
TF Mate,
Can you do me favour and add some comments to your chart posts - why you think they are important and if you have taken a postion based what you see.
Just curious to know what you are thinking and buying.
Cheers
McB
Welcome aboard John! The recent strenght has surprised me somewhat - I can only assume the nickel property is liked by the majors - who have come in and had a look.
Directores continue to buy:
KODIAK ANNOUNCES $200,000 FINANCING
Kodiak Exploration Ltd. has arranged short-term financing of $200,000 pending negotiation of final terms of a significant equity financing, to permit it to get an early start on its winter exploration program on its Knucklethumb project. The financing will be in the form of loans from a director and a brother of that director. The loans will bear interest at the Royal Bank prime rate plus 2 per cent per year, and will be payable on demand at any time after the earlier of that time, if any, at which the company receives gross proceeds of not less than $2.2-million from a brokered or non-brokered equity financing and March 31, 2005.
heads up on KXL. Canncord is buying - volume is good as well.
something is cooking me thinks.
kxl continues to climb now .29
should anyone be interested
Another academic joins the orgranisation - my pet worry for REM. This guy is they tell me something of a heavy weight. So I will be watching to see what he adds to the party.
The current theory is that REM could be an area play. Between their three northern Manitoba properties Assayned Lake (Au), South Bay (pgm,ni) and Edan Lake (rare earth) lays some sort of unique geologoy band. For those interested look at REM web site.
Edan Lake has some sort of U308 - low grade from surface samples - current theory is model is the "the dam" in Australia. (REM will drill shortly) but they also found trace U308 (or Au) in South Bay.
They have staked about 10% of this band and are looking for all the interesting bits now.
like them better then kxl.
cheers
mcb
currently view this NR as a promo play.
They will be drilling their low grade "vent" zone in Knucklethumb in a couple of months. Sampling suggests the area is massive so they have to find some depth. If they do look out.
Watch for cannaord to do the buying before the news. they are in the know.
They are very cagey about the property - wouldn't say where is - so I have no idea.
I noted from the photos that they were in before the snow - I would guess October/November time. They have kept it as a ace up the sleeve - me thinks.
They also wouldn't tell what the average grade was either...because they are signing confidentiality agreements with two majors....a strike of about 1k and 20% nickel grabs I guess that is no surprise.
if it hits .30 I will trim my position.
Cheers
McB
KODIAK FINDS HIGH-GRADE COPPER AND NICKEL
Kodiak Exploration Ltd. has discovered two copper showings during a one-week prospecting program on its newly acquired claims in the Northwest Territories. Grab samples collected from the discovery outcrop in the northern portion of the claims returned assays up to 19.7 per cent copper, 0.23 per cent nickel and 74 grams per tonne silver within gabbro. This copper showing has a strike length of 1,200 metres and remains open. It corresponds with a 10-kilometre-long strong magnetic horizon in the gabbro. A separate, open 500-metre-long zone of anomalous copper returned grab sample assays up to 0.72 per cent copper and 0.17 per cent nickel, and is also associated with the same magnetic horizon. This mineralization was discovered approximately six kilometres to the south.
In addition, Kodiak has confirmed the presence of three high-grade nickel showings. The nickel mineralization is contained in three separate nickel-bearing (niccolite) veins on the property, with grab sample assays from each vein returning values of 38.02 per cent nickel, 23.59 per cent nickel and 3.8 per cent cobalt, and 17.33 per cent nickel. One of the veins is reported to be 37 centimetres wide and is exposed for 25 metres. The sampling of the outcrop was restricted due to surrounding muskeg.
These discoveries were made on targets generated from Kodiak's continuing research and development program. The program consisted of staking and prospecting four claim blocks (136 units) totalling 7,024 acres covering an underexplored magnetic gabbro located near Yellowknife, with good deepwater access. The gabbro has a strong magnetic signature that is 10 kilometres long (north-south) and up to two kilometres wide. Published reports have compared this intrusion with similar intrusions elsewhere in the world that contain major platinum group element deposits.
The gabbro itself has previously been reported to contain elevated levels of nickel, copper and chromium (up to 300 parts per million nickel, 300 parts per million copper and 500 parts per million chromium, respectively). This was far exceeded by Kodiak's small reconnaissance survey of the gabbro, which returned values up to 2,370 parts per million nickel, 19.7 per cent copper and up to 4,568 parts per million chromium.
Previous descriptions of the gabbro recorded a variety of mafic lithologies, including massive olivine gabbro of irregular grain size characterized by pegmatitic patches, compositionally layered noritic gabbro, pegmatitic hornblende gabbro and possible taxitic textures. Field observations and lithogeochemical analyses performed by Kodiak indicate the presence of peridotite and layered mafic rocks. These features are consistent with a geological environment favourable for the occurrence of platinum group elements and nickel-copper mineralization.
Kodiak's consulting geologist has recommended a program of systematic prospecting, mapping and sampling to define the favourable horizons for PGE/chromium and copper-nickel mineralization, through systematic examination of the lower contact of the intrusion, since PGE mineralization is concentrated in contact zones of mafic intrusions in Ontario (Coldwell Complex, East Bull Lake, River Valley) and other parts the world.
Thanks Coach. When is the go-live date?
Seasonal greetings.
McB
Here's why (one nice hole - ok I think its their first)
BOOMERANG ASSAYS HIGH GRADE MASSIVE SULPHIDES
Messina Minerals Inc. has received assay results from drill holes GA04-10 and GA04-11. These drill holes intersected a new discovery of massive sulphide mineralization containing significant copper, lead and zinc sulphides at the Boomerang prospect on the Tulks South property located in central Newfoundland.
The company's news in Stockwatch dated Dec. 8, 2004, contains an error. The width of the massive sulphide interval intersected in hole GA04-11 is 14.6 metres with a 13.9-metre subinterval containing significant copper, lead and zinc sulphides, and not 12.6 metres, as previously stated. The true thickness of the 14.6-metre interval is estimated to be 9.6 metres with an 80-degree (near-vertical) dip.
Hole GA04-11 assays 0.7 per cent copper, 4 per cent lead, 13.6 per cent zinc and 102 grams per tonne (g/t) silver over the 13.9-metre interval from 274.7 metres to 288.6 metres. The bottom of the massive sulphide intersection, where more base metals would be expected to accumulate, assays 0.6 per cent copper, 5.2 per cent lead, 20.1 per cent zinc and 138 g/t silver over 4.7 metres between 283.9 metres to 288.6 metres. Gold analyses of this mineralization are pending. There is a footwall alteration zone, including stringer stockwork mineralization extending from 288.6 to 306 metres containing minor copper, lead and zinc sulphides. Assays of this mineralization are pending.
Hole GA04-10 intersected a debris flow containing massive sulphide clasts from 225.8 to 245.6 metres over a 19.8-metre core length. This interval includes 8.5 metres of massive clasts of pyritic sulphide at the base of the debris flow; the true thickness of this massive sulphide interval is estimated to be 5.5 metres. The 19.8-metre debris flow interval assays 0.1 per cent copper, 0.4 per cent lead, 0.7 per cent zinc, 18.3 g/t silver and 0.4 g/t gold. The 8.5-metre massive sulphide interval assays similar grades of 0.1 per cent copper, 0.3 per cent lead, 0.7 per cent zinc, 18.6 g/t silver and 0.6 g/t gold.
The debris flow is interpreted to have been shed from the volcanic sulphide mound and transported as a sediment to its current position, and is not a part of the primary massive sulphide intersection in GA04-11. Geological processes would be expected to shed pyritic massive sulphide detritus into the debris flow with limited base metals content; the debris flow is evidence of a massive sulphide vent and is not an indicator of the grade of the vent mineralization.
The intersection in GA04-11 occurs 100 metres east of and 50 metres vertically below the intersection in GA04-10. The intersection is open up-dip, down-dip and along strike.
The company has now received required exploration permits for the 2005 proposed program. Drilling has been suspended for Christmas break and is expected to resume as soon as practicable in January.
The company has extensive mineral landholdings totalling 257 square kilometres, including the Tulks South property and the Long Lake property. Messina is earning a 100-per-cent interest in these mineral lands from Noranda. The agreement allows Noranda to back in for 50 per cent if greater than 10 million tonnes of economic mineralization with a positive feasibility report is located. Noranda must pay 150 per cent of exploration costs to that point, or retains a 2-per-cent net-smelter-return royalty.
-----
Todays new is that there is 1 grade a tonne gold as well. Nice.
Hi TF,
What do MMI do? that's a 8 banger.
Hey TF,
Still here but day job is taking over. No time for DD just catch up reading.
Cash, kxl and rem are me holdings.
Thanks Tackler, 300 ppb? is that economic? probably not on its own.
Rhodium usage/history:
(Gr. rhodon, rose) Wollaston discovered rhodium in 1803-4 in crude platinum ore he presumably obtained from South America. Rhodium occurs native with other platinum metals in river sands of the Urals and in North and South America. It is also found with other platinum metals in the copper-nickel sulfide area of the Sudbury, Ontario region. Although the quantity occurring here is very small, the large tonnages of nickel processed make the recovery commercially feasible. The annual world production of rhodium is only 7 or 8 tons. The metal is silvery white and at red heat slowly changes in air to the resquioxide. At higher temperatures it converts back to the element. Rhodium has a higher melting point and lower density than platinum. Its primary use is as an alloying agent to harden platinum and palladium. Such alloys are used for furnace windings, thermocouple elements, bushings for glass fiber production, electrodes for aircraft spark plugs, and laboratory crucibles. It is useful as an electrical contact material as it has a low electrical resistance, a low and stable contact resistance, and is highly resistant to corrosion. Plated rhodium, produced by electroplating or evaporation, is exceptionally hard and is used for optical instruments. It has a high reflectance and is hard and durable. Rhodium is also used for jewelry, for decoration, and as a catalyst. Exposure to rhodium (metal fume and dust, as Rh) should not exceed 1 mg/m^3 (8-hour time-weighted average, 40-hour week). Rhodium costs about $1,000/troy oz.
What clever monkey was playing this one over the last year?
http://www.kitco.com/LFgif/rh0365lnb.gif
and what is it used for? I should know the answer can't remember.
If I may pick your brain some more, what about the properties?
tx
I am noting your posts also. Done any DD on gdr? 2.5 million MC - there is some upside potential.
tx
sadly lacking in today's so called investagative journalism
we'll see
Time to sell?
Fascinating Darfurian article, thanks.
Good terms. Normally there would be some weakness coming on here (after a PP). But in this case there might not be.
As someone said U3O8 is hot!
<I was hoping someone would answer you. I guess we're all ignorant here. (g)>
Won't stop us from having a go though! (G).
I'm looking at STM.V any comments out there? (or should I bother to ask) 0))
Hi TF,
True, but 8 oz a ton stuff I can live with <G>. I am disappointed with this last NR, while another new gold zone is nice (18 or 19 so far) the grade is not impressive and on a whole the event looks promotional (unless I am missing something of course).
Remember the property is large and has a bulk tonnage "zone" and a base metals "zone".
Given the property I expect an event of this order every week or so. What orginally got me into this one was the 8 oz a ton shear-hosted stuff (narrow vien) NR on a part of the property that hasn't come out in any recent NRs. So I'm guessing the company has a number of NRs queued and will play them out through September into the drill results (coming out early Oct is my guess).
I was going to sell into this NR but the price didn't hit my target. As I said I have a shed full. Looks like to me that insiders thrade through TD and for the most part TD was buying. Insiders took most of the recent PP. I would be very surprised if it went under .29. BWDIK?
My thinking is that after a couple of rounds of drilling that if they can find the source of the gold on the shear-hosted zone that is going to make this into a dollar(s) stock. IMO of course.
Cheers
McB
worthy of a halt? you decide
KODIAK EXPLORATION LIMITED Quick Quote: KXL 0.32 (Even)
Hits High-grade Gold
8/26/04
Kodiak Exploration Limited is pleased to announce the discovery of several new occurrences of gold and polymetallic mineralization on the Kodiak Gold Zone. The Company has now begun its exploratory diamond drill program on its 100 percent controlled, 8,600 hectare, Knucklethumb Lake
Project, located in Northwester
n Ontario.
Kodiak Gold Zone
The Kodiak Gold Zone is located along side a logging road near the Jaz Zone. Ongoing exploration of this Zone has resulted in the discovery of additional visible gold mineralization 50 metres along strike to the west from the discovered outcrop. Kodiak previously reported high-grade grab samples from this newly discovered showing assaying up to 306.58 grams/tonne gold (see press release June 4, 2004). Pulp metallic gold analysis of two recent channel samples in the same newly exposed showing has returned values of 390.82 grams/tonne gold and 263.82 grams/tonne gold over a true thickness of 0.10 metres within a quartz vein. The visible gold is contained in a 10 centimetre thick, gently dipping, quartz vein where it intersects a 2.0 metre wide, vertically oriented quartz-carbonate vein stockwork. A single channel sample from the same vein 50 metres to the west returned a value of 38.27 grams/tonne gold over a true thickness
of 0.35 metres. These results were also determined using the pulp metallic method.
Channel samples of the same 10 centimetre thick quartz vein taken 1 metre and 20 metres west of the discovery outcrop returned assays of 0.006 grams/tonne gold and 7.30 grams tonne gold respectively. These results were determined by the fire assay-AAS method; pulp metallic analyses of these samples are pending. Channel sampling of the Kodiak showing is continuing and assay results will be reported when available.
The Kodiak Zone lies between two IP chargeability zones that are approximately 1,000 metres long. Current trenching, channel sampling and mapping have traced widespread carbonate alteration over a strike length of 800 metres. The alteration zone remains open ended. Carbonate alteration attains widths in excess of 25 metres, within which there are quartz veins, quartz-carbonate veins and three stockwork structures measuring 12 metres in combined width. Fuchsite alteration of the adjacent wall rock is common and chalcopyrite and tourmaline are conspicuous in the vein and stockwork structures.
The Kodiak Zone also lies within a synvolcanic, layered gabbro intrusion and bears similar characteristics to the San Antonio Gold Mine in Bissett, Manitoba - favorable magnetite-bearing host rocks, carbonate alteration, intersecting structures and competency contrasts. The San Antonio Gold Mine has produced 1.36 million ounces of gold from 4,876,000 tons of ore for a recovered grade of 0.27 ounces per ton and is reported to have mineable reserves of 901,800 tons with a grade of 0.27 ounces per ton (Gold City Industries Ltd., news release, January 12, 2004).
Ongoing mechanical stripping, channel sampling and detailed mapping continue to define the geology and expand the known limits of mineralization on the Kodiak zone to further establish drill targets.
Thor Shear and Colby Showing
The Thor Shear is a newly identified structure that coincides with a moderate IP chargeability anomaly that has a strike length of 700 metres. The Shear Zone is up to 75 metres wide and is characterized by a series of east-striking, highly chloritic and carbonate altered parallel shears. The Thor Shear Zone lies within a series of mafic rocks. They contact to the north with a belt of felsic volcanic rocks. Prior geophysical and geological data indicate that the shear zone may extend for 2300 metres eastward from the MVP Showing (0.62 grams/tonne gold, 78 grams/tonne silver, 3.82 per cent copper, 3.78 per cent zinc and 2.63 grams/tonne gold, 45.2 grams/tonne silver from prior grab samples) to the Cabin Showing (8.42 grams/tonne gold over 0.50 metres from prior channel sampling) and is coincident with a series of IP chargeability anomalies.
Some 80 grab samples of pyritic, sheared and locally veined mafic metavolcanic rocks have been collected from a series of trenches and outcrops along the Thor Shear Zone. At the eastern end of the shear zone 12 grab samples were collected from Thor Trench 1 across a width of approximately 20 metres. One sample assayed at 1.59 grams/tonne gold and 0.21 per cent copper. Another grab sample 6 metres away assayed at 2.14% zinc. At the Thor Trench 2, 140 metres west of Trench 1, 12 grab samples were collected over a width of 80 metres. Three samples yielded anomalous results: 1.62 grams/tonne gold; 22 ppm silver and 0.24 per cent copper; and 0.14% zinc.
Prospecting north-trending structures intersecting the Thor Shear has led to a new discovery, the Colby Showing, located 1,100 metres east of the MVP showing and 100 metres northeast of Thor Trench 1. One of five grab samples collected from the Colby showing returned an assay of 3.14 grams/tonne gold. Mechanical stripping, channel sampling and detailed geological mapping are ongoing to establish drill targets.
Aiden Showing
Prospecting IP anomalies resulted in the discovery of another new showing - the Aiden Showing. Grab samples of up to 5.54 per cent copper, 0.375 grams/tonne gold were found in fine-grained mafic metavolcanic rock or gabbro and the sulphide mineralization consists of disseminated chalcopyrite with pyrrhotite and pyrite. Pt and Pd analyses are pending. The outcrop is currently limited to an area of intermittent exposure that measures 4.0 metres by 1.0 metres wide.
Prospecting and recent trenching, 300 metres southwest of the Aiden Showing, have uncovered additional copper-gold mineralization. Values of up to 0.90 per cent copper and 0.53 grams/tonne gold have been obtained from grab samples. The mineralization coincides with two parallel, 400 metre long, weak chargeability anomalies. The copper-gold mineralization occurs in a mafic host rock similar to that of the Aiden Showing.
The full extent, orientation and nature of these copper-gold showings is not known at this time, and they will undergo rigorous surface exploration work in the near term including ground geophysics, trenching, power stripping, channel sampling, and geological mapping to establish drill targets.
Josef Zone
Recent prospecting has uncovered gold values of up to 2.11 grams/tonne gold in grab samples from the Josef Zone. The Josef Zone is part of a sulphide-bearing stratigraphic unit that has been traced on surface for approximately 65 metres before passing under Barn Lake. It is between 15 and 20 metres in width on surface and dips southeastward between 45 degrees and 90 degrees. Mineralization consists of 20 per cent to 25 per cent pyrite within silicified to cherty, interbedded clastic metasediments and massive to pillowed mafic flows. A northeastward-trending airborne electromagnetic conductor that extends under Barn Lake for approximately 1.0 kilometres is inferred to represent the on strike extension of the Josef Zone. There is no recorded previous drilling of this EM conductor. Follow up exploration including channel sampling is planned in the immediate future.
Drill Program
Drilling is now underway at the Claim Line Gold Zone (see news release June 11, 2004). Some 1,500 to 2,500 metres of NQ core drilling is planned on the Claim Line Gold Zone, the Kipper Cameron Gold Zone and the Wobbegong copper-zinc volcanogenic massive sulphide prospect. A contingency plan is set to drill other evolving high priority targets if the results of ongoing surface exploration are positive. Results will be reported only on completion of this drill program.
Further results will be published as they become available. Maps, photographs and additional historical information may be reviewed on Kodiak's website at www.kodiakexp.com. The qualified person for this project, under the definitions established by National Instrument 43-101, is Christopher Marmont, M.Sc., P. Geo.
All rock samples are delivered by Kodiak personnel to Accurassay Laboratories in Thunder Bay, Ontario. Gold is routinely determined by conventional fire assay with atomic absorption (AA) finish. Selected samples and those containing visible gold are assayed by a pulp metallic procedure. Base metal analyses are performed by ICP-AES using Aqua-regia digestion.
Link to Knucklethumb Project compilation map:http://www.kodiakexp.com/projects/images/Knucklethumb/Kodiak,-Onaman.gif
KODIAK EXPLORATION LIMITED
No volume today at all on KXL. No wonder they are halted!!!
Company says they have some excellent channel samples!!!
Yeeehaaaawwww!!!
yup, own a shed full. A bit of a play and prey job at the moment but I am in large in this one. They just closed the recent PP above market with insiders only.
I see these PP'ers selling market purchases and holding PP shares for the near future. That should cap or allow people to buy at or around current prices.
They have three distinct targets, shear-hosted, low grade bulk tonnage and a base metel Copper/Zince. They are drilling all of them. The Shear-hosted stuff is raisen cake, if they hit a raisen then well are talking multiple bagger here IMO.
MC is still 5 milllion.
--------------------
KODIAK EXPLORATION LIMITED Quick Quote: KXL 0.30 (-0.02)
Kodiak Exploration Limited: Kodiak Exploration Ltd. Announces $992,000 Private Placement
8/24/04
Aug 24, 2004 (M2 PRESSWIRE via COMTEX) --
non-brokered private placement of its securities to raise $992,985.70 at prices ranging from $0.32 to $0.40. The Company will sell 1,500,000 common shares for $0.32 per share, 1,074,245 Units for $0.35 per Unit and 342,500 Flow-through Shares for $0.40 per Flow- through Shares.
Each Unit will consist of one common share and one non-transferable share purchase warrant. Each Flow-through Share will consist of one common share which is a flow-through share for tax purposes and one non-transferable share purchase warrant. Each warrant will be exercisable to acquire one additional common share of the Company (which is not a flow-through share) for $0.50 for one year after closing; provided that if at any time after four months from the closing date, the Company's shares have a closing price of $0.75 or more for at least ten (10) consecutive trading days on the TSX Venture Exchange, the Company shall be entitled to give notice to the holders of warrants that the warrants will expire 30 days from the date of such notice if not exercised before then.
No finder's fee is payable in connection with the private placement. One insider is participating in the private placement for $100,000 worth of non-flow-through Units. No "control persons" (as defined in Policy 4.1 of the TSX Venture Exchange) or new insiders will be created as a result of the private placement.
The proceeds from the private placement are intended to be used to pursue further exploration of the Company's Knucklethumb project and for general working capital. The private placement is subject to acceptance of a filing in respect of same by the TSX Venture Exchange.
KODIAK EXPLORATION LIMITED On behalf of the Board of Directors William S. Chornobay, Director, President & COO
Funny how Molybdenum is coming into the conversation (and NRs) a lot these days.
Questions for the board;
What makes a economic deposit? What percentage U308 and what widths?
Are there such things as in gold deposits types like shear-hosted verse bulk tonnage?
thanks
McB
ITG seems all done. Now was it short covering me wonders?
More pointing then picking (did you mean pinching)...
You’ll do,
No sorry a bit weak,
Yes please now come down a little bit more,
Oscillation just isn't right on that one,
You’re good but I am looking for a nice rounded one,
Nice V shape on that puppy.
I don’t know why people chose me to keep the standards here but that I willing do.
From the TSE.COM (Institutional brokerage).
Company: ITG Canada Corp.
Address: Suite 1040, The Exchange Tower
130 King Street West
Toronto, ON
M5X 1B1
Fax: (416) 874-0690
Email: itg@itgcan.com
Website: http://www.itginc.com
Services:
Institutional Trading
They are buying SVL but not much else today.
One busy property:
KODIAK EXPLORATION LIMITED Quick Quote: KXL 0.25 (Even)
Kodiak Exploration Limited: Kodiak geophysics leads to new gold discoveries
8/4/04
Aug 04, 2004 (M2 PRESSWIRE via COMTEX) --
HLEM and magnetometer surveys on its Wobbegong prospsect and induced polarization (IP) and magnetometer surveys over the Vent and Kipper Cameron area (see June 29, 2004 news release). A thorough compilation of all historical geophysical data on the Knucklethumb Lake property
has also been completed. A thorough compilation of all historical geophysical data on the Knucklethumb Lake property has also been completed, resulting in the identification of 20 high priority IP targets, 27 secondary IP targets and three HLEM targets. Prospecting IP anomalies on the Knucklethumb Lake property has already resulted in the discovery of two new gold showings, the Kodiak and MB gold zones.
Knucklethumb Geophysical Evaluation A detailed evaluation of all IP and magnetic data has identified a total of 10 high priority IP targets with strike lengths ranging up to 1.2 kilometres. The IP targets are on strike with, or are peripheral to, known shear hosted lode gold mineralization, with similarities to the Red Lake and Timmins gold camps.
The geophysical evaluation generated prospecting targets that led to the discovery of two new gold showings, the Kodiak and MB showing. Ongoing prospecting and trenching is currently underway on several of the remaining high priority targets.
The Kodiak showing lies between two IP chargeable zones that are approximately 1000 metres long. Highlights from samples collected from the Kodiak showing assayed 306.58 grams/tonne gold, 198.49 grams/tonne gold and 164.21 grams/tonne gold (see June 4, 2004 news release). Channel sampling was recently completed and assay results indicate that gold is contained within a quartz vein that extends 40 metres along strike within an altered and sheared basalt and gabbro.
Additional stripping and sampling are underway to test areas of strong carbonate alteration uncovered on the edges of the previously stripped area.
A new gold showing, the MB showing, has returned gold values of up to 42.61 grams/tonne in grab samples. It appears to be an easterly extension of the 10 kilometre long gold bearing JR Shear Zone. The gold showing also coincides with a moderate to strong IP chargeability high that extends for approximately 200 metres. Gold-bearing sulphide mineralization occurs within mafic pillow flows and at the contact of the flows with silicified, carbonate-altered and pyritic feldspar porphyry intrusions. Further stripping, washing, mapping and channel sampling is to begin immediately to establish the extent of the mineralization as well as to test two additional IP anomalies 600 metres along strike to the east. This is to be followed by diamond drilling the high priority targets along the 10 kilometre gold bearing JR Shear Zone.
Wobbegong VMS Zn-Cu-(Ag-Au) The Wobbegong VMS (volcanic massive sulfide) showing bears similarities to the 20 million plus ounce Sturgeon Lake VMS deposits, located 230 kilometres to the west. This VMS showing has never been drilled. A recently completed 39.20 kilometre HLEM Max-Min II survey and a 45.9 kilometre magnetometer survey identified three conductors with an aggregate strike length of seven kilometres. The trenching of these high priority HLEM targets has expanded the previously known massive sulphide mineralization and led to the discovery of new sulphide mineralization three kilometres along strike to the northeast near Slate Lake.
The most significant massive sulphide mineralization lies within the Mako Zone and coincides with one of the strong HLEM conductors that comes to surface.
Massive sulphides consisting of pyrrhotite, pyrite, chalcopyrite and sphalerite have recently been exposed for approximately 75 metres of the 250 metres strike length inferred from the geophysical results. Historical sampling has yielded values of 0.35 per cent copper and 0.40 per cent Zinc over a true width of 0.90 metres. The presence of stringer copper mineralization in the Mako Zone overlying an iron-rich chloritic alteration zone has led Kodiak's consulting geologists to suggest that the more southerly, stratigraphically higher HLEM conductors are the primary targets for VMS mineralization. The most southerly conductor extends for at least two kilometres and limited trenching has uncovered disseminated to semi-massive sulphide mineralization peripheral to the main conductor.
The P-51 Zone is an occurrence of strongly disseminated to semi-massive sulphide mineralization immediately southwest of Slate Lake. It lies three kilometres along strike to the northeast of the Mako Zone within a similar stratigraphic sequence. The P-51 Zone coincides with two strongly conductive units that have been defined by geophysics over strike lengths up to two kilometres. The geophysical survey indicates that sulphide mineralization is up to 25 metres thick in one of the trenches (refer to P-51 Zone photo). The stratigraphic setting, mineralization, and alteration of the P-51 Zone is similar to the Mako Zone. The Wobbegong VMS target area is presently being stripped, washed, mapped and channel sampled. It will be followed by diamond drilling in the immediate future.
Vent Area/Kipper Cameron A total of 50 kilometres of pole-dipole IP and 70 kilometres of magnetometer surveying were recently completed in the Vent area and the Kipper Cameron Gold Zone. Several east and northeast-striking IP chargeability zones up to 2.6 kilometres long were discovered in the survey area. At the main Kipper Cameron gold zone a 200 metre long IP chargeability anomaly coincides with the area where historical chip sampling has yielded gold values of up to 17.60 grams/tonne over a width of 1.98 meters, 28.08 grams/tonne over a width of 1.42 meters and 12.84 grams/tonne over a width of 1.52 meters and historic grab samples up to 97 oz/ton. The Kipper Cameron gold zone is believed to have similarities with shear-hosted lode gold mineralization found in the Red Lake and Timmins Camps. Kodiak's exploration program on the Kipper Cameron zone has traced gold mineralization over a strike length of 1.2 kilometres with grab samples up to 87.3 grams/tonne gold (see June 15, 2004 news release).
Stripping, mapping, and channel sampling are ongoing, testing the main Kipper Cameron gold zone and other nearby IP anomalies. Assay results are pending.
Diamond drilling is planned to commence in the near future.
The IP survey also outlined seven high priority targets with strike lengths ranging from 0.2 kilometres to 2.6 kilometres in the Vent area; which is an elliptical-shaped magnetic low measuring 3.5 kilometres by 1.5 kilometres.
Several of the high chargeability zones lie within a 400 metre wide sodium depletion zone which is one of the largest known alteration zones in Northwestern Ontario. The rocks within the alteration zone consist of quartz-sericite schists that commonly contain 5 per cent to 20 per cent disseminated pyrite, semi-massive pyrite in fractures and kyanite. Values of up to 0.995 grams/tonne gold and 77 grams/tonne silver have been obtained from grab samples in this alteration zone. Further prospecting, soil sampling and trenching are planned to begin in the immediate future on these geophysical targets to establish drill targets.
The Knucklethumb property is located 210 kilometres northeast of Thunder Bay, Ontario and is road accessible. The Kodiak Zone discovery brings the total number of gold showings on the Knucklethumb Property to 24. Kodiak's 2004 exploration program will cover at least eleven of those showings, the Claim Line, the DH, the Ryne, the Jaz, the Hourglass, the Cabin, the Big Bear, the Kipper Cameron, the Kodiak, the Buck, the Vent and the Wobbegong. Further results will be published as they become available. Maps, photographs and additional historical information may be reviewed on Kodiak's website at www.kodiakexp.com. The qualified person for this project, under the definitions established by National Instrument 43-101, is Christopher Marmont, M.Sc., P. Geo.
All rock samples are delivered by Kodiak personnel to Accurassay Laboratories in Thunder Bay, Ontario. Gold is routinely determined by conventional fire assay with atomic absorption (AA) finish. Selected samples and those containing visible gold are assayed by a pulp metallic procedure.
Link to Knucklethumb Project compilation map:http://www.kodiakexp.com/projects/images/Knucklethumb/Kodiak,-Onaman .gif
KODIAK EXPLORATION