Kodiak 2023 Regional Exploration Identifies
New Targets at MPD
GERMAN
February 21, 2024 – Vancouver, British Columbia – Kodiak Copper Corp. (the "Company" or “Kodiak”) (TSX-V: KDK, OTCQB: KDKCF, Frankfurt: 5DD1) today reports prospecting, geophysical and geochemical survey results from the 2023 regional exploration program on its 100% owned MPD copper-gold porphyry project in southern British Columbia.
Highlights
Kodiak’s 2023 regional exploration program identified five new targets at MPD: Agie, Leeside, Celeste, Orbit and Comet. This brings the total number of prospective areas to 24, of which only eight have been drilled by Kodiak to date. Figure 1.
Regional work has confirmed significant copper-gold porphyry mineralization stretching for 20 kilometres across numerous target areas, consistent with multiple porphyry centres and highlighting the district-scale potential of the MPD Project.
Two new target areas are considered drill ready (Blue and Celeste). In addition to these new drill targets, several trends drilled by Kodiak in 2023 continue to be high-priority for the 2024 drill program (South-Mid-Adit and Man-Belcarra-Gate), and further target areas are being evaluated and prioritized. Figures 2, 3 and 4
At the Blue target, a new 3D Induced Polarization (3D-IP) geophysical response extends from surface to a depth of 700 metres. The anomaly is associated with a kilometre-scale copper-in soil anomaly and prospecting samples with significant copper-gold-silver, including a sample with 3.19% Cu, 0.21 g/t Au and 41 g/t Ag (news releases February 28, 2023 and February 3, 2022). Figures 2 and 3
At Celeste, a new 700-metre-long copper-in-soil anomaly coincides with substantial copper-gold-silver in new prospecting samples and a historic 3D-IP response. The Celeste target occurs just 600 metres north of the drilled, high-grade West Zone (news release October 17, 2023). Grab samples collected from Celeste in 2023 include 0.69% Cu, 0.68 g/t Au and 4.5 g/t Ag Figure 4
A new soil geochemical grid covering the Star and Eclipse areas now links these two targets with a two-kilometre-long copper-in-soil trend, corroborated by high-grade copper-gold assays from bedrock samples throughout. This area has not yet been drilled tested. Figure 2
Kodiak’s 2023 Regional Exploration Program included the collection of 2,705 soil samples, 57 rock samples, a 3D-IP survey over 2.6 square kilometres, geological and geotechnical studies.
Claudia Tornquist, President & CEO of Kodiak said,
“Kodiak’s substantial regional exploration program in 2023 has once again highlighted the prospectivity of the MPD property. We have now 24 target areas, many of them hosting large, kilometre-scale anomalies. With our drilling to date, we have tested eight target areas and have results from six, with the remaining two expected soon. So far, we have hit copper at every drilled target, including mineralization from surface and to a depth of almost a kilometre. Importantly we have delineated large high-grade zones at several targets. Kodiak’s team is currently preparing for our 2024 drill program which will commence in spring. With many compelling drill targets ready for testing we are excited to get back on the ground and continue proving what we have believed in from the start: that MPD is a major porphyry system with the potential to become a world-class mine in the future.”
Figure 1: Plan map showing 24 Target Areas at MPD Project to date. New Targets identified in 2023 are highlighted in yellow, 2023 soil survey grids are outlined in green, and the 2023 3D-IP survey is outlined in blue.