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.
- 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
- 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:
Figure 2: Geology and Copper Porphyry Zones, MPD Property.
To view an enhanced version of Figure 2, please visit:
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.
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