Kodiak Copper drills 0.23% CuEq over 381.1 etres at MPD, British Columbia

Geologists examining copper exposure at Prime Zone, MPD

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Kodiak Copper Corp. [KDK-TSXV; KDKCF-OTCQB] reported drill results from the 100%-owned MPD copper-gold porphyry project 35 km north of Princeton, southern British Columbia. The fully funded 2022 drill program of up to 25,000 metres is now underway.

The first two holes testing the Dillard porphyry target intersected significant copper-gold mineralization from bedrock surface to 530 metres depth, including intervals of higher-grade copper-gold-silver mineralization. They represent the best drill results reported from the Dillard area to date with better grade x width than any of the historic holes, and confirm Dillard as a substantial porphyry target.

In addition, drilling into the southern margin of the Gate Zone extended known strike length of mineralization to 1 km. Both the Dillard and Gate Zone porphyry targets remain open to extension in multiple directions and will be further tested as part of the 2022 drill campaign.

First Drilling at the Dillard Zones 1 and 2 included the Dillard target that consists of a 2.7- km long copper-in-soil anomaly with shallow historical drilling that had confirmed a porphyry system. The Dillard target is almost three times the strike length of the Gate Zone copper-in-soil anomaly.

Based on the Kodiak’s Gate Zone discovery, the exploration model for the Dillard Zone comprises one or more higher-grade porphyry mineralization centres within a multi-km mineralized envelope. Kodiak’s first two drill holes support the potential for this model.

Kodiak’s first Dillard drill hole MPD-21-034 intersected 28.8 metres of 0.36% copper, 0.16 g/t gold and 0.24 g/t silver (0.47% CuEq) within a broader 556.5-metre interval of 0.15% copper, 0.08 g/t gold and 0.36 g/t silver (0.20% CuEq). The second drill hole, MPD-21-035, intersected 21.0 metres of 0.52% copper, 0.17 g/t gold and 0.79 g/t silver (0.63% CuEq) within a broader 381.1-metre interval of 0.18% copper, 0.08 g/t gold and 0.28 g/t silver (0.23% CuEq).

These maiden holes confirm higher-grade mineralization is present at Dillard occuring at shallow depths ranging from 86.0 to 203.0 metres downhole. Kodiak will continue testing Dillard in 2022 and plans to drill a minimum of 10-15 further holes into this zone. A 3D IP survey will be conducted in May over the Dillard Zone.

Claudia Tornquist, President and CEO, said, “Due to the significant multi-kilometre scale of the Dillard copper target, the immediate discovery of higher-grading copper mineralization in our first two drill holes is an exciting new development that we are eager to follow up with more drilling in 2022. We are looking forward to applying the same systematic approach that led to our Gate Zone discovery success to Dillard and several other highly prospective target areas as we are aiming to unlock their potential and make more discoveries throughout 2022 and beyond.”

New drill hole MPD-21-030 at Gate intersected a broad 457-metre interval of 0.15% copper, 0.04 g/t gold and 0.14 g/t silver (0.17% CuEq) including 48 metres of 0.25% copper, 0.07 g/t gold and 0.06 g/t silver (0.29% CuEq), extending the Gate Zone envelope to over 1 km of strike length (north-south).

Results from all holes from the Gate Zone continue to recognize patterns of strongly mineralized porphyry alteration, sulphide zoning and the possible controls for higher-grade domains surrounded by lower grade shells.

All results have now been reported from the 2021 drill program at MPD. Additional 3D IP surveying and infill soil geochemical sampling will take place over the next few months. This work will further evaluate Gate and parallel high-priority drill targets nearby, as well as targets in the Dillard, Man and Axe areas, which exhibit similar geophysical and geochemical features, including copper-gold mineralisation reported from historic trenches and drilling.

Holes MPD-21-034 and 035 were drilled central to the 2.7-km long copper-in-soil anomaly at the Dillard Zone. The objective was to obtain firsthand geology and understand the nature of mineralisation reported from historic shallow work at Dillard (trenches and drilling). Both holes intersected significant mineralisation and resulted in the deepest and best copper-gold intercepts reported from the Dillard area to date (grade x width).

To investigate the overall extents of mineralization at Gate, holes MPD-21-020, MPD-21-032 and MPD-21-033 were drilled westward from two pads located central to the zone. These holes confirmed continuity of mineralization and alteration between the north and south lobes at Gate.

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