Kodiak Copper (TSXV:KDK) Announces New High-Grade Gold Discovery at MPD Project in British Columbia

Kodiak Copper (TSXV:KDK) has announced a new high-grade gold-silver discovery on surface, being called the “Beyer Zone”. The discovery was made at the company’s 100%-owned MPD copper-gold porphyry project in British Columbia, Canada.

Figure 1: Beyer Zone Trench plan map (air photo) with results. Sampling was conducted over 1 to 2 metre intervals along 35 metres oriented west to east (T-22-016) and 29 metres oriented south to north (T-22-015). See results Table 1 and 2 for trench sampling results and sample locations. Source: Kodiak Copper

The ongoing trenching at the Beyer Zone was part of a regional exploration program aimed at evaluating untested copper-gold targets at the MPD property. This part of the project has been completed in parallel with its full-funded 25,000-metre drill program. The program consists of multiple copper-gold porphyry targets, which the company expects to continue to report results from.

Figure 2: Beyer Zone Trench location map. New high-grade gold-silver discovery is situated 400 m south of the historic Man Zone and central to a gold-in-soil trend identified from Kodiak soil sampling 2019-2021 (background), measuring 2200 metre long (north-south) and 750 metre wide (east-west). Source: Kodiak Copper

Claudia Tornquist, President and CEO of Kodiak, commented in a press release: “The Beyer gold-silver discovery is an exciting new development as it sits within a multi-kilometre, completely untested new gold-in-soil trend. It is remarkable because this is the first time sizable intervals of high-grade gold-silver mineralization have been trenched at the MPD project. Mineralization and alteration are open along strike, making extension of these trenches an obvious follow-up for 2023. The Beyer discovery is a testament to the outstanding prospectivity of the MPD Project and adds new upside and value creation potential for our shareholders.”

Highlights from the discovery are as follows:

  • A 2022 surface sample taken prior to trenching the Beyer Zone assayed 14.15 grams per tonne (“g/t”) gold and 9.40 g/t silver. Figure 1 and Table 1
  • Trench sampling expanded this new surface gold-silver discovery to 3.02 g/t gold and 24.18 g/t silver over 12 metres, including 5.29 g/t gold and 27.70 g/t silver over 2 metres in north-south Trench 22-015. Figure 1 and Table 1
  • Trench sampling east-west also assayed 9.11 g/t gold and 24.00 g/t silver over 2 metres, with a parallel zone 8 metres west assaying 2.60 g/t gold and 10.10 g/t silver over 2 metres in Trench 22-016. Figure 1 and Table 1
  • Approximately 14 metres of hydrothermally altered and mineralized rock has been exposed in the two trenches excavated to date, which remains open to extension. Figure 3
  • The Beyer Zone discovery was made within a 2.2 kilometre long, 750 metre wide gold-in-soil corridor discovered during Kodiak’s 2019 and 2021 soil sampling. Figure 2
  • Trenching at the Beyer Zone followed up gold-in-soil anomalies and a chip sample previously reported by Kodiak that assayed 11.75 g/t and 42.5 g/t silver over 2.3 metres. See news releases dated August 29, 2019 and February 3, 2022.
  • The Beyer alteration zone hosting gold and silver mineralization contains elevated pathfinder elements such as arsenic, antimony, bismuth, and tellurium, which can be used for geochemical vectoring and new target generation across the MPD property.
  • Extensive drilling at the nearby Gate and Man zones have demonstrated a close association between shallow bedrock mineralization and soil geochemistry. As such, the 2.2 kilometre by 750 metre gold-in-soil trend hosting the Beyer Zone is not expected to be primarily caused by glacial transport.
  • The Beyer Zone is slated for additional trenching and drilling as part of the 2023 program.
Figures 3: Beyer Zone Trenching. Source: Kodiak Copper
Figures 3: Beyer Zone Trenching. Source: Kodiak Copper

Table 1: Weighted assay intervals for 2022 Beyer Zone trench results; grab samples, trenches T-22-016 (west to east) and T-22-015 (south to north). See Figure 1

ID From (m) To (m) Interval (m)* Au g/t Ag g/t
137084     Grab 14.15 9.4
137083     Grab 2.83 27.1
West-East
TRENCH-22-016 18 22 4 2.47 7.9
includes 18 20 2 9.11 24
and 8 10 2 2.6 10.1
South-North
TRENCH-22-015 14 26 12 3.02 24.18
Includes 20 24 4 4.7 30.45
Includes 22 24 2 5.29 27.7

*Sample intervals are 1 to 2 metre trench chip samples. Trench data to date is insufficient to determine true width or orientation of mineralisation.

Table 2: 2022 MPD Beyer Zone Trench Location Information (UTM Z10)

Trench ID Start Easting Start Northing End Easting End Northing Orientation Zone Reported
137083 681400 5513438     Grab Beyer Zone Dec 5, 2022
137084 681400 5513438     Grab Beyer Zone Dec 5, 2022
T-22-015 681396 5513423 681399 5513451 S-N Beyer Zone Dec 5, 2022
T-22-016 681377 5513444 681413 5513440 W-E Beyer Zone Dec 5, 2022

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I cover the mining industry and the best mining stocks around the world. I write about industry news, individual companies, projects, management, and profiles on industry leaders.

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