Kodiak Copper Corp has told investors that this year's exploration program at its MPD project in the main copper-gold producing belt in British Columbia is progressing well and it is now expanding efforts away from the Gate Zone and across the 147 square kilometre (sq km) property.
Drilling is on schedule, and as of September 9, 2022, the company said it had completed 29 holes, for 19,150 metres (m) of the up to 25,000m program.
"Our interpretation has been from the start that MPD is a large, multi-centred copper-gold porphyry system," said Claudia Tornquist, CEO of Kodiak in a statement.
"After our first discovery of a high-grade porphyry centre at the Gate Zone we are now replicating the same systematic exploration approach at additional target areas with the aim to make further high-grade discoveries and bring the project to the next level. With a healthy treasury and a fully funded exploration program we are well placed to continue advancing MPD to unlock the value of what we believe is a district-scale porphyry copper system for our shareholders," she added.
READ: Kodiak Copper unveils significant results from initial 2022 drilling at MPD copper-gold project in southern British Columbia
Kodiak pointed out that it was now drilling similar geophysical and geochemical signatures to those at the Gate Zone, including areas such as Dillard, Man, and other newly defined targets. In addition, a new 3D IP geophysical survey was being conducted over 9 sq km extending southward from the Gate Zone to the Man and Dillard target areas.
Also, a 7.2 sq km soil geochemical survey (1,577 samples) has just been finished which followed up copper-gold anomalies from work in 2021, said the firm. Soil geochemical samples from the 2022 survey have been shipped to the lab in Vancouver and results are pending.
A drill rig has also been mobilized to the Dillard area where drilling began in 2021 with two holes and early results from the 2022 3D Induced Polarization (3D IP) work have already identified new high-priority drill targets situated within a 2.7 km long copper-in-soil anomaly.
Kodiak noted that exploration target drilling would continue throughout the fall to test new soil geochemical and 3D IP geophysical anomalies across the large MPD property
Following Kodiak's Gate Zone discovery at MPD in 2020 a 21,675m drill program in 2021 significantly expanded the size and depth of known mineralization at the Gate Zone to 1 km strike, 350m width and 850m depth.
In addition, its first two holes at the Dillard target in 2021 intersected better copper-gold results than any historic results reported from the Dillard area.
Contact the author at giles@proactiveinvestors.com