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Kodiak Copper (TSXV:KDK/FRA:5DD1), the Canadian copper explorer, has reported results from nine new drill holes from the Gate Zone on its MPD property in British Columbia. It confirmed that its Gate Zone porphyry target remains open to extension in multiple directions.

In the central Gate Zone on the Kodiak MPD property, three new drill holes have been completed along approximately 500 metres of strike length underlying the central Gate Zone copper-in-soil target, once again intersecting significant grades and interval lengths of copper-gold mineralisation.

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. The project is located midway between the towns of Merritt and Princeton, with year-round accessibility and excellent infrastructure nearby.


Kodiak Copper drill results

Kodiak Copper reported 0.76% Cu Eq within 504m and 0.47% Cu Eq at the Gate Zone. Results included 0.29% Cu at interval 699m on its MPD-21-016 drill hole. The hole included 0.5% Cu achieved at 105.

Kodiak Copper’s MPD-21-012 hole found 0.23% Cu which includes up to 0.58% Cu from 413 to 461m. Ag (silver) g/t levels varied across the drill sampling, but we note 1.57 Ag g/t between 567 and 672m on the MPD-21-016 drill hole. Also, on the Gate Zone margins, Au (gold) g/t was up at 2.4 g/t at between 536 and 542m, and also at 3.58 g/t between 11o and 113.5m.

Six new drill holes targeted the pyrite-dominated envelope surrounding higher grade mineralization, to help define the dimensions of the Gate Zone porphyry centre.

One of Kodiak Copper’s two drill rigs at MPD has been relocated to the Dillard copper-gold porphyry target, while one rig remains at the Gate Zone.

Kodiak’s ongoing exploration at MPD includes drilling with two rigs, prospecting-mapping, trenching, geophysical, geochemical and environmental surveying. The fully funded 2021 program is progressing well and remains on budget, the company told investors this week.

“The Gate Zone keeps delivering impressive drill results and I am very pleased with the progress of our work to date,” said Kodiak Copper CEO Claudia Tornquist. “The Gate Zone discovery is only the first step of our exploration strategy. It proves our district scale approach and provides a road map for other target areas at what we believe is a multi-centre porphyry system at MPD. We will now replicate our successful approach at the Dillard Zone this year and I am looking forward to testing several further interpreted porphyry centres with a large drill program in 2022.”

The high priority Dillard target exhibits similar copper-in-soil anomalies, geophysical responses and encouraging historic drilling to the Gate Zone. Dillard will be drill-tested during the remainder of Q4 as part of the 2021 program. Like at the Gate Zone, most historic drilling at Dillard was shallow.

Kodiak Copper said that drilling at the Gate Zone continues to identify patterns of strongly mineralised porphyry alteration, sulphide zoning and the structural controls for high-grade domains surrounded by lower grade shells. To investigate the extents of the Gate Zone, holes MPD-21-008 through 015 were drilled at various azimuths from a pad located 575 metres south of last year’s drilling (MPD-21-014 was lost before target depth). Holes MPD-21-016 and 024 were drilled to infill and test continuity of the high grade Gate Zone mineralization from new set-ups central to the one kilometre long copper in soil anomaly. Hole MPD-21-007 was drilled from a 2020 pad at the north end of Gate to test the extension of copper mineralization westward.

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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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