Kodiak Copper Corp (CVE:KDK) has provided an update on its fully funded drill program at its MPD copper-gold porphyry project in southern British Columbia, which includes up to 30,000 metres (m) of drilling at several priority target areas.
Plans for 2021 also include further geotechnical studies and prospecting as well as geophysical, geochemical and environmental surveying, the company said.
Kodiak Copper recommenced drilling at its 100%-owned MPD project in March, noting that currently the program is progressing well and remains on schedule.
READ: Kodiak Copper expands MPD project with acquisition of Axe property from Orogen Royalties
Highlights so far include:
- New drilling at the Gate Zone in 2021 has intersected prospective, sulphide-bearing altered porphyritic host rock at least another 125m south and 75m north of last year's drilling.
- Step-out drilling on the Gate Zone will continue to systematically evaluate the related 1 kilometre-long copper-in-soil anomaly, which also lies central to a regional magnetic low spanning 3 kilometres (km).
- Six holes totaling 3,711m have been completed as of May 10, 2021. The program is currently operating with one drill rig, with plans to add a second rig in the second quarter.
- Core samples are being shipped to ALS Canada Ltd in North Vancouver, British Columbia for preparation and final analysis
- Assay results from the drilling will start being reported from late 2Q or 3Q.
Kodiak Copper said that drilling since March has focused on testing the northern and southern extents of the Gate Zone from previously approved sites. The company recently received an amendment to its current multi-year area-based exploration permit that authorizes new drill sites and expanded exploration activity across the MPD property to 2026.
In 2020, significant copper-gold mineralization at Gate was intersected across 350m in width (east-west), over 100m in length (north-south), and to a depth 800 being open in all directions.
The company said high-priority targets like Dillard and Dillard East exhibit similar copper-in-soil anomalies, geophysical responses, and encouraging historic drilling like the Gate Zone -- indicating considerable potential for more copper-gold porphyry centres on the MPD property.
Last month, Kodiak Copper announced the acquisition of the contiguous Axe claims. As part of the 2021 program, the company said it will visit the property and review the historic core, with a goal toward generating and permitting near-term "Gate Zone-style" drill targets at Axe.
"It is a truly exciting time for Kodiak as we are following up on our transformative Gate Zone discovery with a fully funded and permitted, significantly larger drill program of up to 30,000 metres at the MPD project,” said CEO Claudia Tornquist in a statement.
“We are pleased with the progress of the program to date and are looking forward to new results from expanded drilling at the Gate Zone. The pace of our drill program will accelerate as the year progresses with the addition of further drills and the testing of other target areas such as Dillard. Our shareholders can expect a steady flow of drill results throughout the remainder of 2021," she added.
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