April 28, 2022 –
Vancouver, British Columbia – Kodiak Copper Corp. (the “Company” or “Kodiak”) (TSX-V: KDK, OTCQB: KDKCF, Frankfurt: 5DD1) today announced the mobilization of a second drill rig to Kodiak’s 100% owned MPD copper-gold porphyry project in Southern British Columbia, where the Company is executing a fully funded drill program of up to 25,000 metres in 2022.
Drilling this year to date has focused on the Gate Zone where Kodiak made a high-grade copper-gold discovery. The Gate Zone remains open in multiple directions and the Company has identified high-priority drill targets for potential extensions of mineralization (see news release February 3, 2022) which are now being systematically drilled. The second rig will start testing a one kilometre long “look-alike” anomaly 600 metres to the southeast of the Gate Zone which represents a new geophysical target of significant size. As the year progresses, Kodiak plans to drill further high-priority targets in the Prime, Man, Dillard and Axe areas which exhibit similar geophysical and geochemical signatures as the Gate Zone, as well as shallow mineralization from historic drilling, and have rarely been drilled at depth.
Claudia Tornquist, President and CEO of Kodiak said, “We believe there is significant potential to further extend the Gate Zone and this has been the focus of our drill program in the first months of this year. We are now looking forward to accelerating the program with a second drill rig to start testing additional targets, which have equally as much discovery potential as Gate. Kodiak is fully funded for the work planned in 2022 and well positioned to add a third drill rig as and when needed. Our shareholders can look forward to a news-rich year with a steady flow of drill results and the potential for new game-changing discoveries at MPD.”
MPD is a large, 147 km2 land package located near several operating mines in the southern Quesnel Terrane, British Columbia’s primary copper-gold producing belt. It is situated between the towns of Merritt and Princeton, with year-round accessibility and excellent infrastructure nearby.