Kodiak Copper Corp (CVE:KDK) announced it has mobilized a second drill rig to its 100% owned MPD copper-gold porphyry project in British Columbia, where the company is carrying out a fully-funded drill program of up to 30,000 metres in 2021.
The company said this year’s drilling is focused on extending the Gate Zone, where Kodiak made a high-grade copper-gold discovery at the northern end of a one kilometer long soil anomaly.
“It is a truly exciting time for Kodiak as we follow up on our transformative Gate Zone discovery with a fully funded, significantly larger drill program,” Kodiak Copper CEO Claudia Tornquist said in a statement.
READ: Kodiak Copper expands MPD project with acquisition of Axe property from Orogen Royalties
“We are pleased with the progress of the program to date and are looking forward to accelerating the drilling at the Gate Zone. Our shareholders can expect the first results from this year's drill campaign in a few weeks and a steady flow of drill results throughout the remainder of 2021,” Tornquist added.
Kodiak noted the second rig will initially assist in step out and infill drilling at Gate, but as the year progresses the company expects to move one of the rigs to the Dillard Zone, situated about two kilometres southeast of the current drilling.
It added that Dillard is a high-priority target similar to the Gate Zone, characterized by a substantial copper-in-soil anomaly, geophysical responses and encouraging mineralization in historic drilling.
The MPD project is comprised of a 147 square kilometre land package located near several operating mines in British Columbia's copper-gold producing belt and is Kodiak's most advanced asset, where it made a discovery of high-grade mineralization within a wide mineralized envelope in 2020.
Kodiak Copper also owns the Mohave copper-molybdenum-silver porphyry project in Arizona, near the world-class Bagdad mine.
Contact Sean at sean@proactiveinvestors.com