Kodiak Copper 0.51% CuEq over drills 158 metres at MPD, British Columbia

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Kodiak Copper Corp. [KDK-TSXV; KDKCF-OTCQB; 5DD1-FSE] reported drill results from the fully financed, large drill program at its 100%-owned MPD copper-gold porphyry project in southern British Columbia. Assay results from the first three holes drilled in 2023 at the West zone (MPD South/Axe claims) are presented in this release.

Highlights: Kodiak’s drilling at the West zone to date has confirmed porphyry mineralization from surface over an area of 300 metres by 300 metres and up to 819 metres depth, extending well below historic drilling and open to extension.

A new zone of structurally hosted high-grade copper-gold-silver mineralization has been discovered to the east of the West zone.

For the first time at the MPD project, significant mineralized hydrothermal breccia has been drilled. The breccia includes copper mineralized clasts suggesting additional undrilled mineralization at depth.

West zone drill results: Three drill holes were completed into the West zone, collared near the centre of the geophysical target and drilled to the south, vertically and to the east. Additional drill holes are also being completed, with assays pending.

Drill hole AXE-23-001, drilled toward the south, intersected significant mineralization from bedrock surface to 539 metres depth. Assays include 0.28% copper, 0.28 g/t gold and 0.83 g/t silver (0.51% copper equivalent (CuEq)) over 158 metres, within a broader interval of 0.18% Cu, 0.20 g/t Au and 0.61 g/t Ag (0.34% CuEq) over 533 metres.

Drill hole AXE-23-002, drilled vertically, intersected mineralization from surface to 488 metres depth, assaying 0.21% Cu, 0.30 g/t Au and 1.36 g/t Ag (0.45% CuEq) over 203 metres, within 0.15% Cu, 0.16 g/t Au and 0.80 g/t Ag (0.28% CuEq) over 482 metres.

Drill hole AXE-23-003, drilled to the east, also intersected from-surface mineralization assaying 0.22% Cu, 0.27 g/t Au and 1.08 g/t Ag (0.44% CuEq) over 51 metres, within a broad interval of 0.13% Cu, 0.20 g/t Au and 0.61 g/t Ag (0.29% CuEq) over 209 metres.

West zone drilling by Kodiak and others show an approximately 1:1 ratio of g/t gold to per cent copper, similar to the central Gate zone and usually indicative of higher temperature mineralization.

Gold-rich mineralization within the West zone: A review of drill core from AXE-23-001, 002 and 003 suggests some of the high copper-gold-silver values observed within the intervals reported in the table also originate from interpreted north-south-trending vein-like structures that enrich the porphyry mineralization. Examples of these are AXE-23-001 that returned 5.14 g/t Au, 2.68 g/t Ag and 0.83% Cu over 2.1 metres at 21 metres downhole.

AXE-23-002 returned 10.7 g/t Au, 2.16 g/t Ag and 0.10% Cu over 0.8 metre at 591 metres downhole. AXE-23-003 returned 9.51 g/t Au, 3.31 g/t Ag and 0.33% Cu, over 0.9 metres at 71 metres downhole. AXE-23-003 returned 8.29 g/t Au, 17.15 g/t Ag and 0.13% Cu over 0.8 metres at 192 metres downhole.

New structurally hosted high-grade zone: Drilling east beyond the limits of the West zone magnetic anomaly, drill hole AXE-23-003 intersected a new, structurally controlled high-grade copper-gold silver zone assaying 0.93% Cu, 0.64 g/t Au and 3.2 g/t Ag (1.44% CuEq) over 16 metres starting at 274 metres down hole.

The interval contains distinctive copper-gold-silver zone with semi-massive pyrite-chalcopyrite mineralization in phyllic/propylitic altered andesite.

A new discovery was also made at depth in vertical drill hole AXE-23-002 where mineralized high-temperature, high-energy hydrothermal breccia was intersected over 175 metres from 644 to 819 metres. The hole was lost prematurely in mineralization. This is the first significant breccia-hosted porphyry mineralization drilled at MPD.

The discovery interval assayed 0.29% Cu, 0.22 g/t Au and 0.72 g/t Ag (0.46% CuEq) over 30 metres, within a broader zone assaying 0.11% Cu, 0.13 g/t Au and 0.53 g/t Ag (0.21% CuEq) over 175 metres, which remains open at depth.

Claudia Tornquist, President and CEO, said: “I am very pleased with these initial results from our 2023 drill program. The first three holes at the West zone are a promising start and confirm our thesis that porphyry mineralization exists below and adjacent to shallow historic drilling. The West zone is only one of several targets we will test this year and I am looking forward to the next batch of results from the Man zone where our second drill is currently turning. In total we are aiming to test four or five targets in 2023, each with excellent discovery potential.”

New drilling at the West zone confirmed significant copper-gold mineralization from bedrock surface over 300 metres of width (east-west) and at least 300 metres of strike (north-south).

In addition, all three holes intersected high-grade, structural/vein hosted gold-silver-copper zones, with approximately metre-scale widths and interpreted to trend north-south within the broader porphyry envelope.

MPD is a large land package (226 km2) 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.

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