Kodiak Copper drills 0.69% CuEq over 150 metres at MPD project, British Columbia

Kodiak Copper Corp. [KDK-TSXV; KDKCF-OTCQB] reported drill results from the 100%-owned MPD copper-gold porphyry project in southern British Columbia.

Results from five additional holes drilled in 2021 at the Gate Zone are presented in this release. Drilling continues to intersect significant copper-gold grades over substantial intervals, defining a broad mineralized envelope surrounding a higher-grade central zone. New drill results have now extended the higher-grade central zone at Gate further to the east and to depth. The Gate Zone porphyry target remains open to extension in multiple directions.

New drill hole MPD-21-029 intersected 150 metres of 0.50% copper, 0.28 /t gold and 1.86 g/t silver (0.69% copper equivalent – CuEq) within a broader 372-metre interval of 0.35% copper, 0.18 g/t gold and 1.16 g/t silver (0.47% CuEq).

Drill hole MPD-21-029 extends the central Gate zone eastward and to depth. As it ended in copper-gold mineralization, it demonstrates the zone remains open to extension

Results support the mineralized potential of high-priority drill targets identified by a recent 3D Induced Polarization (3D IP) geophysical survey, as reported on February 3, 2022.

The high-grade, bornite-chalcopyrite copper mineralization in MPD-21-029 suggests that a higher-temperature, mineralizing source for the central Gate Zone may lie to the east-southeast and at depth.

New drill hole MPD-21-028 intersected 51 metres of 0.43% copper, 0.10 g/t gold and 1.67 g/t silver (0.51% CuEq) within a broader 130.6-metre interval of 0.27% copper, 0.06 g/t gold and 1.07 g/t silver (0.32% CuEq).

New drill hole MPD-21-027 intersected 72 metres of 0.31% copper, 0.09 g/t gold and 0.55 g/t silver (0.36% CuEq) within a broader 173.0-metre interval of 0.18% copper, 0.05 g/t gold and 0.37 g/t silver (0.22% CuEq). Refer to company press release for complete assays.

Claudia Tornquist, President and CEO, said, “As we kick-off the 2022 exploration campaign at the MPD Project against the backdrop of a very strong copper market, we continue to be extremely pleased with the results from our 2021 drilling, with the Gate Zone consistently delivering long intercepts of high-grade copper-gold mineralization. The latest results support the interpreted extension of the Gate Zone to the south-east that is also evident in our geophysical data. The fact that this presents only one of several target areas for further drilling highlights the potential to still significantly expand the mineralized envelope at Gate. We will carry on with systematic drilling at the Gate Zone, and also look forward to using the same approach that led to this discovery to unlock the potential of multiple other targets at MPD in 2022.”

Results from 29 of 36 drill holes from the 2021 drill have been reported to date and Kodiak expects the outstanding drill results in Q2 2022. A large drill program of up to 25,000 metres and additional 3D IP surveying will be conducted in 2022. This 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 regional geophysical and geochemical anomalies, and near-surface mineralization from historic trenches and drilling.

Drilling at the Gate Zone continues to identify patterns of strongly mineralized porphyry alteration, sulphide zoning and the possible structural controls for higher-grade domains surrounded by lower grade shells. To investigate the extents of the Gate Zone, holes MPD-21-019, MPD-21-027 through 029 and MPD-21-031 were drilled at various azimuths from three pads located central to, and east of Gate Zone. Holes MPD-21-019, 027, 028 and 031 were drilled to test the continuity of mineralization, and a possible minor offset between the north and south lobes of the Gate Zone. Hole MPD-21-029 was drilled northward under pads used in 2020 and 2021, specifically to test for an extension of the central high-grade zone eastward and down dip. All holes intersected copper-gold-silver mineralization.

MPD is a large 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 Merritt and Princeton, with year-round accessibility and excellent infrastructure nearby.

Kodiak is focused on its 100%-owned copper porphyry projects in Canada and the USA. The company’s most advanced asset is the MPD copper-gold porphyry project in the prolific Quesnel Trough, where the company made a discovery of high-grade mineralization within a wide mineralized envelope in 2020.