Kodiak Copper Corp has told investors that this year's exploration program at its MPD copper-gold project in British Columbia is "progressing well" and drill results will begin to be reported in late June.
Drilling of up to 25,000 metres (m) is on schedule and as of June 8, the firm said 11 holes for 7,065m had been completed.
Notably, this year's holes at the Gate Zone have hit prospective, porphyritic host rock between Gate and the historic Prime Zone to the north, and to 875m depth at the south end. Gate remains open in multiple directions and Kodiak aims to extend the zone with further drilling this year.
In addition, a new 3D IP geophysical survey is underway covering 7.5 square kilometres (sq km) southward from the Gate Zone to the Man and Dillard target areas.
READ: Kodiak Copper confirms Dillard zone as "substantial" porphyry target with drilling at MPD project
"We are excited to already see potential to further expand the high-grade Gate Zone in just the first few months of the 2022 drill campaign," said Claudia Tornquist, CEO of Kodiak, in a statement.
"New and deeper 3D IP geophysical data will not only allow us to refine our drilling at Gate, but will also accelerate our targeting at the Man, Dillard and Axe areas which are slated for drilling this season and have the potential for new high-grade discoveries," she added.
"We also anticipate that our systematic exploration will recognize completely new target areas at MPD. Kodiak is fully funded for the company's 2022 exploration program and our shareholders can expect a steady flow of results throughout the remainder of the year."
Kodiak's MPD copper-gold porphyry project sits in the prolific Quesnel Trough in south-central British Columbia, Canada. MPD has all the hallmarks of a large, multi-centered porphyry system.
Following the company's discovery of the Gate Zone in 2020 a 21,750m drill program in 2021 significantly expanded the known mineralization there to 1km of strike, 350m width and 850m depth.
Its first two holes at the Dillard target also hit better copper-gold results than any historic results reported from the Dillard area.
Contact the author at giles@proactiveinvestors.com