Kodiak Copper Corp outlined the good progress made with its fully funded drill program at the MPD copper-gold porphyry project (MPD) in British Columbia, saying 25 holes totalling 13,600 metres (m) had been completed as at the beginning of September, and it remains on budget.
Two drill rigs will operate until the end of the 2021 program and so far, the Gate Zone has extended the north-south extent of prospective sulphide-bearing, altered porphyritic host rock to 950m from 125m.
"The high priority Dillard target exhibits similar copper-in-soil anomalies, geophysical responses and encouraging historic drilling like the Gate Zone. Dillard will be drill-tested in Q4 as part of the 2021 program," Kodiak said.
READ: Kodiak Copper restarts drilling at MPD copper-gold porphyry project
Meanwhile, fieldwork at MPD has included geological mapping, prospecting of 55 rock samples and geotechnical studies. Further geophysical surveying and trenching are planned before the year-end.
In addition, 1,755 soil geochemical samples have been collected on three grids, mostly within a five square kilometre area that joins the south end of the Gate Zone to the historic Man target area, the firm added.
All samples are being shipped to ALS Canada Ltd. in North Vancouver, British Columbia for preparation and final analysis. Lab throughput times have increased significantly and Kodiak says it expects to release the next set of drill results in late September or October, this year.
"We are very pleased by the excellent progress made this year at MPD in just six months, and especially eager to apply our successful exploration approach that led to the discovery at Gate to other high priority target areas, such as Dillard, Man, Prime, Axe, and new targets generated by this year's fieldwork," said Claudia Tornquist, CEO of Kodiak.
"Our data indicates that MPD is a multi-centre porphyry system, like many others in British Columbia, and we believe the Gate Zone discovery is only the first step to unlock the value of MPD. We are also grateful for the relationships we are building with neighbouring Indigenous communities and peoples," she added.
MPD comprises a large land package of 14,716 hectares and sits near several operating mines in the southern Quesnel Terrane, British Columbia's primary copper-gold producing belt.
Contact the author at giles@proactiveinevstors.com