Kodiak Copper Corp. (TSX-V:KDK) has told investors that 2022 is shaping up to be a potentially transformative year for the company as it embarks on another exploration season at its flagship MPD copper-gold project in Southern British Columbia, as well as a maiden drill program at its Mohave copper porphyry project in Arizona.
In an annual letter to investors, the company’s president and CEO Claudia Tornquist said the chance for more discoveries, combined with its strong treasury and share structure presents a compelling opportunity to create value for shareholders.
Prospects for 2022 follow what Tornquist described as a “momentous year” in 2021 as Kodiak executed the largest drill program in the history of the 100% owned MPD project and built upon its discovery success.
READ: Kodiak Copper reveals new drill results from Gate Zone on its flagship MPD copper-gold project in British Columbia
“The program produced many impressive results and greatly increased the drill-confirmed size of our Gate Zone discovery,” Tornquist said.
“With our treasury full, we are looking forward to an eventful and news-rich 2022 with another substantial exploration program to further unlock the district-scale potential for a large, multi-centered porphyry system at MPD.”
Tornquist said the 2021 drill program at MPD was primarily focused on extending the Gate Zone discovery by systematically evaluating the associated copper-in-soil anomaly of approximately one kilometer (km) in length.
Drilling consistently delivered substantial high-grade intercepts within wide envelopes of lower grade mineralization, and over the year the company increased the strike length of the Gate Zone by almost eight times, she added.
“Mineralization has been intersected to date over 950 metres (m) in length, down to a depth of 850m and across a width of 350m, dimensions typical of other large, multi-centre copper porphyry deposits in British Columbia,” she said.
“The Gate Zone remains open in multiple directions and we are excited to drill it further in 2022.”
Tornquist noted that the Gate Zone is only the first step in unlocking the value of the district-scale MPD project, with several further interpreted porphyry centres on the property with similar copper-in-soil anomalies over large areas, geophysical responses and drill-proven copper and gold near-surface from shallow historic exploration.
“We made our Gate Zone high-grade discovery by testing below the shallow historically-drilled mineralization, which validated the exploration model devised by our exploration team led by Kodiak's Chairman and founder, Chris Taylor,” she said.
“We will now replicate this successful approach at other high-priority target areas. Drilling at the Dillard target area, two km from the Gate Zone, has already commenced in October and will continue this year. The three-kilometre long regional magnetic anomaly between the Gate and Man Zones will also be tested.”
Other target areas, including the newly acquired Axe claims which are contiguous and south of the MPD project area add further discovery potential, Tornquist added.
She said the company is planning a 2022 drill program of approximately 25,000m at multiple targets, with results throughout the year and the possibility for another game-changing discovery.
Other highlights from 2021 include:
- Strengthening of its management team with the appointment of Nancy Curry as vice president of corporate development and Harpreet Bajat as corporate secretary;
- Increasing its visibility to the investing marketplace with the commencement of trading on the OTCQB in March 2021 and receiving DTC eligibility to facilitate trading and efficient electronic transfer of the company’s shares in the US;
- The copper price reaching all-time highs and consistently trading above $4 per pound as the world undergoes an aggressive push towards electrification, boosting demand for the metal.
“I look forward to keeping you updated on our progress, stay tuned for lots of catalysts and news to come throughout 2022,” Tornquist concluded.
Contact the author at stephen.gunnion@proactiveinvestors.com