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Home » Popular Markets » Equities » Kodiak Copper identifies new drilling targets at its Gate Zone

Canadian copper explorer Kodiak Copper (TSX-V:KDK) has been carrying out new geophysical and soil geochemical surveys on its MPD property in British Columbia. These include ground geophysical and soil geochemical surveys. Results were released last week.

Kodiak said last week that 3D induced polarization (3D IP) geophysical and soil geochemical surveys conducted in 2021 have identified new high-priority drill targets in the Gate Zone area and detected three new kilometre-scale copper-gold geochemical trends on the MPD project. A new one kilometre long parallel “look-alike” 3D IP response similar to the response of copper-gold mineralisation drilled at Gate has been identified 600 metres to the southeast of the Gate Zone, the miner reported.

What has Kodiak discovered at MPD?

Conductive 3D IP anomalies traced to depth highlight potential extensions of Gate Zone mineralization along strike and down plunge to the south and southeast. Results from the 2021 soil geochemical survey highlight three new kilometre-scale copper-gold target areas in the Gate, Man and Dillard areas on the MPD property, which covers 147 square kilometres. Prospecting results from 2021 have also identified new prospects. These new target areas will be followed up in 2022, Kodiak confirmed.

A large drill program of approximately 25,000 metres is planned for 2022 to further evaluate Gate and advance other high-priority targets in the Dillard, Man and Axe areas. These prospects exhibit similar regional geophysical and geochemical anomalies, with near-surface mineralization reported from historic trenches and drilling.

“The geophysical data indicates possible extensions of the Gate Zone, which highlights the potential to further extend the mineralization at Gate substantially,” said Claudia Tornquist, CEO of Kodiak Copper. “Even more exciting is the large look-alike geophysical anomaly just a short distance to the east, which represents an entirely new drill target of significant size. The new geophysical data correlates exceptionally well with our drill results so we now have an invaluable tool to target our drilling even more effectively. 2022 could hold a game-changing discovery as we are replicating our successful approach from the Gate Zone at other new and historic target areas like Prime, Dillard, Man and Axe, and continue to uncover a district-scale, multi-centred porphyry system at MPD.”

Deeper 3D IP geophysical surveys were undertaken in 2021 to identify new targets similar to the Gate Zone high-grade copper-gold discovery as Kodiak interprets the MPD property as hosting a shallowly-eroded porphyry-related copper-gold mineralized system, where higher-grade mineralization may be more fully preserved at depth. The new data identified geophysical drill targets near the Gate Zone that are more extensive than indicated by historic shallow IP data, supporting Kodiak’s exploration thesis.

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In October 2021, Kodiak contracted SJ Geophysics Ltd. to conduct the first deep DC resistivity/induced polarisation (3DIP) survey on the MPD Project. The survey consisted of 19.8 line kilometres covering a 1.6 x 2.0 kilometre area centred on the Gate copper-gold porphyry zone and historic Prime target.

What next for the MPD project?

A substantial exploration program is planned for 2022, with field work and drilling resuming in Q1 2022 and approximately 25,000 metres of drilling before year-end. The 2022 program will include testing new geophysical targets from the 2021 3D IP survey and assessing the three new regional copper-gold geochemical trends central to the Gate-Man-Dillard areas. The program will also include continued deep 3D IP surveying in key target areas, follow-up drilling at Dillard, testing analogous targets elsewhere across MPD; and initiating work on the newly acquired Axe property.

MPD is a large, consolidated land package (14,716 hectares) located near several operating mines in the southern Quesnel Terrane, British Columbia’s primary copper-gold producing belt. Systematic exploration has led to the discovery of the Gate Zone where drilling has intersected porphyry-related mineralisation along 950 metres of strike, to a depth of 850 metres, and over 350 metres width. The project is located midway between the towns of Merritt and Princeton, with year-round accessibility and excellent infrastructure nearby. Kodiak Copper has a multi-year, area-based exploration permit that authorises new drill sites and expanded exploration activity across the MPD property to 2026.


Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Stuart Fieldhouse

Stuart Fieldhouse

Stuart Fieldhouse has spent 25 years in journalism and marketing, including as a wealth management editor for the Financial Times group, covering capital markets and international private banking, and as an investment banking correspondent for Euromoney in Hong Kong. He was the founder editor of The Hedge Fund Journal.

Stuart has worked at CMC Markets, supporting the re-launch of its global financial spread betting and CFD trading platforms. He is also the author of two books on trading, published by Financial Times Pearson. Based in The Armchair Trader’s London office, Stuart continues to advise fund managers, private banks, family offices and other financial institutions.

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