Kodiak Copper Corp. (TSX-V:KDK) has announced the mobilization of a second drill rig to its 100%-owned MPD copper-gold porphyry project in Southern British Columbia, where the company is executing a fully funded drill program of up to 25,000 metres (m) in 2022.
The company said drilling so far this year has focused on the Gate Zone where it made a high-grade copper-gold discovery. The Gate Zone remains open in multiple directions and it has identified high-priority drill targets for potential extensions of mineralization which are now being systematically drilled.
“We believe there is significant potential to further extend the Gate Zone and this has been the focus of our drill program in the first months of this year,” president and CEO Claudia Tornquist said in a statement. “We are now looking forward to accelerating the program with a second drill rig to start testing additional targets, which have equally as much discovery potential as Gate.”
READ: Kodiak extends the central Gate Zone at MPD project as it continues to intersect significant copper-gold grades
Kodiak said the second rig will start testing a one-kilometre long "look-alike" anomaly 600m to the southeast of the Gate Zone which represents a new geophysical target of significant size. As the year progresses, it said it plans to drill further high-priority targets in the Prime, Man, Dillard and Axe areas which exhibit similar geophysical and geochemical signatures as the Gate Zone, as well as shallow mineralization from historic drilling, and have rarely been drilled at depth.
“Kodiak is fully funded for the work planned in 2022 and well-positioned to add a third drill rig as and when needed,” Tornquist concluded. “Our shareholders can look forward to a news-rich year with a steady flow of drill results and the potential for new game-changing discoveries at MPD.”
MPD is a large, consolidated land package of 14,716 hectares (Ha) near several operating mines in the southern Quesnel Terrane, British Columbia's primary copper-gold producing belt. The project is located midway between the towns of Merritt and Princeton, with year-round accessibility and excellent infrastructure nearby.
Kodiak is focused on its 100%-owned copper porphyry projects in Canada and the US. The company's most advanced asset is the MPD copper-gold porphyry project in the prolific Quesnel Trough in south-central British Columbia, Canada. MPD has all the hallmarks of a large, multi-centered porphyry system.
Contact the author at stephen.gunnion@proactiveinvestors.com