Kodiak Copper Corp. (TSX-V:KDK) has unveiled significant results from the first four drill holes of a 25,000-metre 2022 drill program at its 100%-owned MPD copper-gold porphyry project in southern British Columbia.
The Vancouver-based company said the initial 2022 drilling has focused on infill drilling in the sparsely-drilled southern Gate Zone to test continuity of the copper-gold-silver mineralization within up to 200 metres.
New results in drill holes MPD-22-002 and MPD-22-004 confirm wide intervals of significant mineralization between earlier drill holes in the area, suggesting high potential for strong continuity of mineralization similar to the northern discovery area of Gate, it added.
"Our 2022 drill program is progressing well and we are pleased with our continued drilling success at the Gate Zone,” Claudia Tornquist, president and CEO of Kodiak said in a statement.
READ: Kodiak Copper says 2022 exploration at MPD project is progressing well with first drill assays expected in late June
“It is promising to see the close correlation between drill results and geophysical signatures as this makes our geophysical data an excellent targeting tool to not only expand the Gate Zone, but also accelerate and refine targets at the Man, Dillard and Axe areas which are slated for drilling as the season progresses. We are also generating new targets as we expand our geophysical and geochemical databases and replicate the approach that led to our Gate Zone discovery," she added.
The results show that MPD-22-004 intersected 114 metres (m) of 0.30% copper (Cu), 0.20 grams per ton (g/t) gold (Au) and 2.36 g/t silver (Ag) (0.44% CuEq) within 501m of 0.20% Cu, 0.12 g/t Au and 0.98 g/t Ag (0.28% CuEq), Kodiak said.
MPD-22-002 intersected 47m of 0.33% Cu, 0.08 g/t Au and 0.29 g/t Ag (0.38% CuEq) within 227 metres of 0.20% Cu, 0.06 g/t Au and 0.10 g/t Ag (0.24% CuEq) before ending prematurely in the mineralized zone when the drill hole was lost.
Kodiak said holes MPD-22-001 and 003 tested beyond the outer margins of the Gate Zone to the southeast and southwest, and intersected minor host rock alteration and sulfide mineralization with no significant assays to report, which is typical of the outer envelope of larger porphyry systems. It added that the results confirm a tight association between copper-in-soil results and underlying bedrock mineralization.
“Results from all holes at the Gate Zone continue to recognize patterns of strongly mineralized porphyry alteration, sulphide zoning and the possible controls for higher-grade domains surrounded by a lower-grade shell,” the company said.
“The Gate and Dillard Zones remain open in multiple directions and the company expects to further extend known mineralization to date, and in addition, drill new high-priority targets in the Prime, Man and Axe areas, which exhibit similar geophysical and geochemical signatures as the Gate Zone,” it added.
Kodiak expects to achieve up to 25,000 metres of drilling in multiple target areas before year-end. The company said a new 3D IP geophysical survey currently underway has completed over half of the 7.5 square kilometres planned, including the Dillard Target area.
“Drilling is on schedule and Kodiak has completed 13 holes totalling 9,651 metres as of June 26. Both drill rigs are currently focused on extending the Gate Zone and will be redeployed to other priority areas like Dillard upon receipt of new 3D IP geophysics and as the 2022 program progresses,” it added.
Kodiak is advancing the wholly-owned copper porphyry projects in Canada and the US. Its 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 jon.hopkins@proactiveinvestors.com