Kodiak Copper Corp. (TSX-V: KDK) reports the first drill results for the fully funded 30,000 metre 2021 drill program at the 100% owned MPD copper-gold porphyry project in southern British Columbia.
Gate Zone: 575 metre Step-out to South
Chris Taylor, Chairman of Kodiak said, “With a six-fold increase in its drill-confirmed strike length to over 800 metres, and the identification of high-temperature bornite-rich copper mineralization, the Gate Zone has growing similarities to other large scale copper porphyry systems in British Columbia. In particular, recent mineralization and alteration discoveries have similarities to the Red Chris deposit where Newcrest Mining Ltd. recently acquired a 70% interest. Like the Gate Zone at MPD, Red Chris has high-grade copper-gold-silver mineralization core with a broad lower grade halo. Grades at Red Chris are similar to many of the drill intervals reported from the Gate Zone to date.”
Ongoing Drilling in Gate Zone Discovery Area
Claudia Tornquist, President and CEO of Kodiak said, “We are delighted with the 2021 drill results to date. This is a big step forward, validating our thesis that MPD has the potential to host a major porphyry system. We have still only tested a portion of the target area defined by the copper-in-soil anomaly that is related to the Gate Zone mineralization. We are also looking forward to further exploration along the underlying three kilometre-long magnetic trend that extends all the way to the Man area which has historical copper in trenches and shallow drill holes. With two drill rigs turning now we also plan to turn our attention to other, equally promising target areas such as Dillard in the second half of this year.
Step-Out to North of Gate Discovery Area
Table 1: Weighted assay intervals for holes MPD-21-001 to MPD-21-004, MPD-21-006 and
MPD-21-009 (also see Figure 2)
|Hole ID||From (m)||To (m)||Interval**(m)||% Cu||Au g/t||Ag g/t||%CuEq*|
*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: Plan map of the Gate Zone showing all 2021 drilling with assay results to date. Background data is contoured historic copper-in soil data. Mineralization at Gate has been traced down to 850 m depth, across a width of 350 m (east-west) and over 800 m in length (north-south).
Figure 2: North-South cross-section 681400mE, see results Table 1 for drill holes MPD-21-001 to
MPD-21-004, MPD-21-006 & MPD-21-009
Figure 3: Examples of core from 2021 Drilling at MPD: 3A) MPD-21-009 – Bornite-dominated copper mineralization as disseminations and in late quartz veining. Core is from an 87.0 metre intercept reporting 0.51% Cu, 0.43 g/t Au and 0.81 g/t Ag from 446.0 to 533.0.
Figure 3: Examples of core from 2021 Drilling at MPD: 3B) MPD-21-006 – Strongly mineralized hydrothermal breccia with chalcopyrite-pyrite. Core is from a 51.0 metre intercept reporting 0.54% Cu, 0.36 g/t Au and 2.77 g/t Ag from 623.0 to 674.0 metres. Images are of selected intervals and do not represent all mineralization on the property.
Figure 4: Examples of core from 2021 drilling at MPD: 4A) MPD-21-002 – Massive sulphide vein dominated by chalcopyrite. Core is from a 99.7 metre intercept reporting 0.21% Cu, 0.04 g/t Au and 0.64 g/t Ag from 306.0 to 405.7 metres.
Figure 4: Examples of core from 2021 drilling at MPD: 4B) MPD-21-003 – Chalcopyrite-pyrite-quartz veining in altered volcanics. Core is from a 72 metre intercept reporting 0.39% Cu, 0.09 g/t Au and 1.23 g/t Ag from 576.0 to 648.0 metres. Images are of selected intervals and do not represent all mineralization on the property.
Table 2: 2021 MPD Drill Collar Information – Gate Zone
|Elevation (m)||Azimuth (degrees)||Dip||EOH
The Gate Zone was discovered in 2019 and the 2020 drill campaign extended the Gate Zone with a total of 6,698 metres drilled in nine holes. Drilling in 2021 will continue to focus on expanding the copper-gold mineralization at the Gate Zone through step-out drilling along the kilometre-long copper-in-soil anomaly. The 2021 drill program of up to 30,000 metres will also test additional analogous porphyry targets such as Dillard that demonstrate strong potential for similar copper-gold porphyry mineralization.
Drill holes MPD-21-001 and 002 were drilled westward from the first 2021 drill set up located 70 metres north of last year’s drilling. Holes MPD-21-003 to 006 were drilled to test the Gate zone mineralization south and southeast from a previously approved site (MPD-21-005 was lost before target depth). Hole MPD-21-009 was drilled from a third pad located 575 metres south of the second set up (Table 2).
The Company recently received an amendment to its current area-based exploration permit authorizing expanded exploration activity and multiple new drill sites to 2026. Work will now focus on infill drilling at Gate and additional high priority targets across the MPD Property. Plans for 2021 also include geotechnical studies, prospecting, and geophysical, geochemical and environmental surveying.
MPD is a large, consolidated land package (14,716 hectares with the recent Axe acquisition) 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.
American Manganese Inc. (TSX-V: AMY) (OTCQB: AMYZF) (FSE: 2AM) a... READ MORE
Transaction aimed at strengthening Monarch’s balance sheet in p... READ MORE
Highlights: Results from 13 holes for the Goldlund Project... READ MORE
Atico Mining Corporation (TSX-V: ATY) (OTCQX: ATCMF) announces it... READ MORE
Viscount Mining Corp. (TSX-V: VML) (OTCQB: VLMGF) is pleased to a... READ MORE
We acknowledge the [financial] support of the Government of Canada.