Canadian copper explorer Kodiak Copper Corp. [TSX-V: KDK, OTCQB: KDKCF, Frankfurt: 5DD1] has entered into a purchase agreement to acquire a 100% interest in the Aspen Grove Copper-Gold Property from Pinwheel Resources.
Aspen Grove is a large claim package hosting numerous mineral occurrences and drilled copper-gold porphyry targets, similar to those currently being advanced on Kodiak’s 100% owned adjacent MPD Project in Southern British Columbia.
The Aspen Grove acquisition adds significant near-surface, high-grade copper-gold mineralization to MPD, including the Ketchan Discovery, a drill-proven, large porphyry centre located only 4.5 kilometres from Kodiak’s Gate Zone.
The large, 112 square kilometre property is contiguous to, and immediately northwest of Kodiak’s MPD Project, expanding the company’s land holdings to 338 square kilometres overall.
The new property boasts 86 holes (15,582 metres) of historic drilling since the 1950’s, with many holes not exceeding 200 metres depth, and one third being shallow percussion holes. There are 18 known mineral occurrences including six with significant porphyry-related copper-gold (+/- silver, molybdenum) mineralization: Ketchan, Par, Zig, Thalia, Thor and Coke.
The Ketchan Discovery
The Ketchan Prospect is a near-surface alkalic porphyry copper-gold system measuring at least 1,800 by 500 metres, as defined by aeromagnetics, geology, rock sampling, induced polarization (IP) and drilling, which is open in most directions. Historic drill results from the Ketchan Prospect include 266 metres of 0.26% Cu, 0.11 g/t Au including 78 metres of 0.50% Cu, 0.15 g/t Au, and 108 metres of 0.28% Cu, 0.04 g/t Au incl. 26 metres of 1.05% Cu, 0.05 g/t Au.
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The majority of drilling to date has focused on Ketchan and Par, with significant upside at other targets having similar geological, geochemical, and geophysical traits as copper-gold zones being advanced by Kodiak at MPD (i.e. the Gate and Adit Zones).
Kodiak Copper to benefit from Aspen Grove exploration data
Kodiak Copper said it will benefit from comprehensive recent Aspen Grove exploration data which includes airborne magnetics (2014), 3D IP surveys and modelling (2014-15); plus re-logging, age dating, lithogeochemical and petrographic studies by HPX Exploration and former BCGS geologist James Logan (2020 and 2014).
Claudia Tornquist, President and CEO of Kodiak said: “The acquisition of the contiguous Aspen Grove claims is an excellent strategic fit for Kodiak as we consolidate this prolific district in the Southern Quesnel Terrane. Historic drilling has shown that Aspen Grove hosts several copper-gold porphyry centres, and the new claims add significant potential mineralized inventory at MPD. We are particularly excited about the sizable Ketchan Discovery where historic drilling has outlined high copper and gold grades at shallow depths, less than five kilometres from the Gate Zone.”
Like MPD, Aspen Grove has the potential for large-scale copper-gold porphyry mineralization and benefits from year-round access and excellent infrastructure.
