Kodiak Copper Corp (CVE:KDK) (OTCMKTS:KDKCF) (FRA:5DD1) said it has resumed a drill program at its MPD copper-gold project in the Quesnel Trough, the primary copper-gold producing belt in British Columbia.
The company said plans for 2021 include up to 30,000 meters of drilling in several target areas, as well as further geophysical and geochemical surveying, prospecting, and geotechnical studies. Drilling will initially focus on the Gate Zone, where Kodiak has intersected broad intervals of high-grade mineralization and which remains open in multiple directions.
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Kodiak said step-out drilling at Gate will systematically evaluate the approximately one-kilometer long copper-in-soil anomaly within a related magnetic anomaly spanning three kilometers, of which to date only about 100 meters at the northern tip have been drilled.
Other high-priority targets slated for drilling are Dillard and Dillard East which - like the Gate Zone - are characterized by regional magnetic lows, copper-in-soil anomalies, and encouraging mineralization in historic drilling, the company said, adding that exploration to date shows “all the hallmarks of a large, well-developed, multi-centered alkalic porphyry system” at MPD, with copper and gold mineralization historically drilled over 10 square kilometers.
The company added that drilling will commence with a single drill rig with plans to add further rigs as work progresses, and that the program will be run out of its newly established field office and technical facility in the town of Merritt, which provides core logging, sampling, and storage capacity.
"I commend our technical team for a well-executed and very successful exploration campaign in 2020 that resulted in a transformative discovery for Kodiak. This year is shaping up to become an equally exciting year for Kodiak's shareholders as we are embarking on a significantly larger-scale drill program, the largest in the history of the project," Kodiak president and chief executive Claudia Tornquist said in a statement.
The company also said it has granted 10,000 stock options to a consultant, exercisable at C$1.57 per share for a period of five years.
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