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Kodiak Copper (TSX-V:KDK), the British Columbia copper explorer, has reported further drill results from its 100% owned MPD copper-gold porphyry project. Three new drill holes have produced results from its Gate Zone on the property. Holes drilled in 2021 are continuing to highlight significant copper-gold grades over substantial intervals central to the Gate Zone, Kodiak reported yesterday.

Among the highlights were 126 metres of 0.72% Cu, 0.21 g/t Au and 2.95 g/t Ag (0.87% CuEq) within a broader 537 metre interval of 0.37% Cu, 0.11 g/t Au and 1.40 g/t Ag (0.45% CuEq) in new drill hole MPD-21-018.

In addition, Kodiak saw 111 metres of 0.53% Cu, 0.34 g/t Au and 1.84 g/t Ag (0.76% CuEq) within a broader 432 metre interval of 0.27% Cu, 0.13 g/t Au and 0.78 g/t Ag (0.35% CuEq*) in new drill hole MPD-21-026.

In 2021, Kodiak Copper drilled 21,675 metres in 36 holes, two of which were Kodiak’s first holes at the Dillard copper-gold porphyry target located 2.5 kilometres south-east of the Gate Zone (Dillard results are pending).

Impressive drill results keep coming

Kodiak said that systematic drilling at the Gate Zone in 2021 continues to intersect porphyry-related mineralisation and host lithology along 950 metres of strike, having the depth (850 metres) and width (350 metres) typical of other multi-centre copper porphyry deposits in British Columbia.

“We are very pleased with the impressive drill results that keep coming from the Gate Zone, and excited to have our first holes into the Dillard target,” said Kodiak Copper’s CEO, Claudia Tornquist. “The progress the company made this year, despite challenging weather and operational conditions, sets the stage for continued drilling in multiple areas and another large program in 2022. Kodiak is well funded and we will continue with our district scale exploration approach at MPD to reveal the property’s true potential for multi-centred porphyry systems.”

Throughout Q1 2022 Kodiak says it will report on outstanding drill results and other 2021 field work, including results from 12 holes remaining from 36 drilled in 2021 (21,675 metres). Results from 24 holes have been reported to date. Investors can also anticipate results from 1,755 soil samples, and 176 rock samples from prospecting and trenching.

Large exploration program planned for next year

A large exploration program is planned for 2022, with field work and drilling resuming in Q1 2022 and approximately 25,000 metres of additional drilling before year-end. Preparatory work in late 2021 involved heritage surveys in specific target areas to allow work during the winter months.

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. The 2022 program will include assessing the three kilometre regional magnetic low between the Gate and Man target areas, follow up drilling at Dillard, testing analogous targets elsewhere across MPD and initiating work on the newly acquired Axe Property.

The Axe property overlies significant geophysical targets with similar signatures to Kodiak’s Gate Zone discovery, and historical copper results in drill core, soils, and rock samples.

Opening up of new target areas

Drilling in 2021 focused primarily on testing the northern and southern extents of the Gate Zone. In addition, drilling commenced this autumn at the Dillard target and two holes were completed.

Kodiak says that the Dillard Target area will be further tested in 2022. It has many attributes similar to the Gate Zone. This includes anomalous copper over significant widths in historic drilling and trenching, but rarely testing below 350 metres depth plus anomalous copper and gold in historic soil surveys defining a broad 600 x 1500 metre target area.

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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