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.
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.
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:
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|
*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|
Kodiak Copper (TSXV:KDK) has reported new results for five drill holes at its 25,000-metre drill program at its 100%-owned MPD copper-gold project in British Columbia. The goal of the company’s initial efforts in 2022 was to establish a mining infrastructure, including route development and stockpiling at Gate. The company also worked on developing a mining operation at the site. Drilling on the Gate Zone and nearby look-alike geophysical are underway, with plans for additional drilling in 2022. Drilling revealed new high-grade copper-gold-silver intersections along a 170-meter gap at the Gate end, infilling an existing void. In addition, drill testing geophysical anomalies northeast of Gate has identified a 400-meter long parallel mineralized pattern in the Prime Zone.
Kodiak’s primary focus are its 100% owned copper porphyry projects located in Canada and the USA. The company’s most promising asset is the MPD copper-gold porphyry project situated in the productive Quesnel Trough in south-central British Columbia, Canada. MPD meets all qualifications of a large, multi-centred porphyry system.
Kodiak made the Gate Zone discovery of mineralization with a wide margin, and MPD holds several other targets that are similar and have the potential to be discovered. Kodiak also possesses the Mohave copper-molybdenum-silver porphyry project in Arizona, USA which is located near Bagdad mine. Both of Kodiak’s porphyry projects have historical drilling, as well as present known mineral discoveries that could possibly lead to large-scale deposits.
Claudia Tornquist, President and CEO of Kodiak commented in a press release: “The Gate Zone has delivered further impressive drill intercepts as we continue to increase the size of mineralized envelope which now extends to a kilometer in north-south direction and a depth of 900 metres. We also commenced testing geophysical targets with coincident copper-in-soil signatures in the wider area around the Gate Zone and are pleased that we were able to delineate a parallel mineralized trend at the Prime Zone. This new mineralized trend crystalizes further size potential and validates our model of a large multi-centric porphyry system at MPD. The Company has now expanded its exploration efforts to other high-priority areas like as Dillard and Man and we look forward to this next promising phase of work which should lead to more new discoveries like Gate and Prime across the 147 square kilometre MPD Project area.
Highlights from the results are as follows:
Holes MPD-22-005, 006 and 008 were drilled at various azimuths and inclinations from two pads at the south end of Gate. These holes infilled a 170 metre gap between previous set-ups, while investigating higher grade mineralization and the correlation with 3D IP responses down dip to the east.
Holes MPD-22-013 and MPD-22-017 were drilled westward from sites 400 metres east of the Gate Zone. These holes were drilled to test 3D IP responses at depth and along strike of trenches and shallow drilling on historic Prime claims. New drilling confirmed the continuation of significant copper-gold mineralisation plunging south and dipping to the east, similar to Gate. This trend is called the “Prime Zone” and when combined with previous work, measures 200 metres wide (east-west), with over 400 metres of strike (north-south) and has been drilled down to 550 metres depth. Hole MPD-22-017 continued drilling westward past the Prime Zone and intersected the Gate Zone at 764 meters depth, ending in mineralization at 860 metres downhole.
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