Kodiak Copper Corp. (TSX-V: KDK) (OTCQB: KDKCF) (FSE: 5DD1) reports drill results at the 100% owned MPD copper-gold porphyry project in southern British Columbia.
Nine new Gate Zone drill holes are presented in this release. These holes 1) define additional mineralization towards the centre of the zone, and 2) expand the margins of the zone to the south, and west. The Gate Zone porphyry target remains open to extension in multiple directions.
One of Kodiak’s two drill rigs at MPD has been relocated to the Dillard copper-gold porphyry target, while one rig remains at the Gate Zone.
Kodiak’s ongoing exploration at MPD includes drilling with two rigs, prospecting-mapping, trenching, geophysical, geochemical and environmental surveying. The fully funded 2021 program is progressing well and remains on budget.
Central Gate Zone
Three new drill holes completed along approximately 500 metres of strike length underlying the central Gate Zone copper-in-soil target once again intersected significant grades and interval lengths of copper-gold mineralization. Results are shown in Table 1 and Figures 2, 3.
Drilling Gate Zone Margins
Six new drill holes targeted the pyrite-dominated envelope surrounding higher grade mineralization, to help define the dimensions of the Gate Zone porphyry centre. Results are shown in Table 1 and Figures 2, 3.
Dillard Target Drilling
The high priority Dillard target exhibits similar copper-in-soil anomalies, geophysical responses and encouraging historic drilling to the Gate Zone. Dillard will be drill-tested during the remainder of Q4 as part of the 2021 program. Like at the Gate Zone, most historic drilling at Dillard was shallow. See 3D model of drilling at Gate, Dillard and Man in Figure 6.
Ongoing Exploration Program
Claudia Tornquist, President and CEO of Kodiak said, “The Gate Zone keeps delivering impressive drill results and I am very pleased with the progress of our work to date. Kudos to our technical team for executing successfully the largest ever exploration program at MPD, despite unusually challenging weather conditions this year. The Gate Zone discovery is only the first step of our exploration strategy. It proves our district scale approach and provides a road map for other target areas at what we believe is a multi-centre porphyry system at MPD. We will now replicate our successful approach at the Dillard Zone this year and I am looking forward to testing several further interpreted porphyry centres with a large drill program in 2022.”
Table 1: Weighted assay intervals for holes MPD-21-007, MPD-21-008, MPD-21-010 to 013, MPD-21-015, MPD-21-016 and MPD-21-024 (see Figure 2)
|Hole ID||From (m)||To (m)||Interval**
|% Cu||Au g/t||Ag g/t||%CuEq*|
|Gate Zone Central|
|Gate Zone Margins|
*Copper equivalent grades (%CuEq) are for comparative purposes only. Calculations are uncut and recovery is assumed to be 100% as no metallurgical data is available. Metal prices of US$4.25/lb copper, US$1,800/oz gold, and US$26/oz silver, using the formula: %CuEq = Cu grade + (Au price x Au grade + Ag price x Ag grade)/31.104/(Cu price*22.046)
**Intervals are downhole drilled core intervals. Drilling data to date is insufficient to determine true width of mineralization.
Figure 1: Gate Zone plan map showing all 2021 drilling with assay results to date. Background is contoured historic copper-in soil data. Porphyry-related alteration and mineralization at Gate has been traced down to 850 m depth, across a width of 350 m (east-west) and over 950 m in length (north-south)
Figure 2: North-South long-section 681400mE, see results Table 1 for drill holes MPD-21-007, MPD-21-008, MPD-21-010 to 013, MPD-21-015, MPD-21-016 and MPD-21-024MPD-21-001 to MPD-21-004, MPD-21-006 & MPD-21-009
Figure 3: East-West cross sections at 5515075mN and 5515250mN see results Table 1 for drill holes MPD-21-008 and MPD-21-010 to 016
Figure 4: Examples of core from 2021 Drilling at MPD: 4A) MPD-21-016 – Strongly mineralized brecciated/silicified hornblende diorite with chalcopyrite-pyrite. Core is from a 104.2 metre intercept reporting 0.48% Cu, 0.11 g/t Au and 1.41 g/t Ag from 297.8 to 402.0 metres 4B) MPD-21-012 – Bornite-chalcopyrite mineralization in fractured, porphyritic hornblende diorite. Core is from a 48.0 metre intercept reporting 0.58% Cu, 0.10 g/t Au and 0.97 g/t Ag from 413.0 to 461.0 metres. Images are of selected intervals and do not represent all mineralization on the property.
Figure 5: Examples of core from 2021 drilling at MPD: 5A) MPD-21-024 – Chalcopyrite-pyrite in quartz-carbonate veins hosted in K-feldspar-epidote-magnetite altered diorite. Core is from a 42.0 metre intercept reporting 0.32% Cu, 0.34 g/t Au and 1.56 g/t Ag from 512.0 to 554.0 metres 5B) MPD-21-007 – Silicified andesite with chalcopyrite-pyrite in sheeted quartz veins. Core is from a 132.0 metre intercept reporting 0.15% Cu, 0.08 g/t Au and 0.43 g/t Ag from 116.0 to 248.0 metres. Images are of selected intervals and do not represent all mineralization on the property.
Figure 6: 3D model showing copper in historic drill holes at the Dillard target (left ), Man target (centre) and historic + Kodiak drilling at the Gate Zone (right). Note that all areas have copper near surface, but significant grades at Gate from new drilling reside below most historic drilling at Dillard and Man (~250-350m depth). Colour contours show >0.1% Cu from downhole assays plotted using 10m cells.
Table 2: 2021 MPD Drill Collar Information – Gate Zone
Drilling at the Gate Zone continues to identify patterns of strongly mineralized porphyry alteration, sulphide zoning and the structural controls for high-grade domains surrounded by lower grade shells. To investigate the extents of the Gate Zone, holes MPD-21-008 through 015 were drilled at various azimuths from a pad located 575 metres south of last year’s drilling (MPD-21-014 was lost before target depth). Holes MPD-21-016 and 024 were drilled to infill and test continuity of the high grade Gate Zone mineralization from new set-ups central to the one kilometre long copper in soil anomaly. Hole MPD-21-007 was drilled from a 2020 pad at the north end of Gate to test the extension of copper mineralization westward. (see Figures 1 to 3 and Table 2).
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.
NQ size core was split and sampled over approximately three metre intervals. 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. Samples were analyzed using ALS’s Fire Assay Fusion method (Au-AA24) with an AA finish for gold and by a 33-element four acid digest ICP-AES analysis (ME-ICP61) with additional analysis for Ore Grade Elements (ME-OG62) and Ore Grade Cu (Cu-OG62). 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 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.
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.
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