Kodiak Copper drills 1.03% CuEq over 117 metres at MPD, British Columbia

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Kodiak Copper Corp. [KDK-TSXV; KDKCF-OTCQB; 5DD1-FSE] reported results for five drill holes from the fully financed 25,000-metre 2022 drill program at the 100%-owned MPD copper-gold porphyry project in Southern British Columbia.

The company’s initial work in 2022 focused on additional drilling at the Gate zone and testing look-alike geophysical targets nearby. New high-grade copper-gold-silver intercepts reported herein infill a 170-metre gap at the south end of Gate. In addition, drill testing geophysical anomalies northeast of Gate has identified a 400-metre-long, parallel mineralized trend at the nearby Prime zone.

Claudia Tornquist, president and CEO, said: “The Gate zone has delivered further impressive drill intercepts as we continue to increase the size of mineralized envelope, which now extends to a kilometre in north-south direction and a depth of 900 metres. We also commenced testing geophysical targets with coincident copper-in-soil signatures in the wider area around the Gate zone and are pleased that we were able to delineate a parallel mineralized trend at the Prime zone. This new mineralized trend crystalizes further size potential and validates our model of a large multicentric porphyry system at MPD. The company has now expanded its exploration efforts to other high-priority areas like as Dillard and Man, and we look forward to this next promising phase of work, which should lead to more new discoveries like Gate and Prime across the 147-square-kilometre MPD project area.”

New drill holes MPD 22-006, MPD-22-008 and MPD-22-05 at the southern end of Gate encountered significant chalcopyrite-plus-or-minus bornite mineralized intervals, infilling 170 metres of strike and extending the Gate zone by an additional 50 metres to 900 metres depth. The Gate zone remains open to depth.

MPD-22-006 intersected 117 metres of 0.69% copper, 0.46 g/t gold and 2.22 g/t tonne silver (1.03% copper equivalent – CuEq) within 735.4 metres of 0.24% copper, 0.14 g/t gold and 0.71 g/t silver (0.34% CuEq).

MPD-22-008 intersected 59.9 metres of 0.33% copper, 0.25 g/t gold and 1.77 g/t silver (0.52% CuEq) within 585 metres of 0.18% copper, 0.09 g/t gold and 0.71 g/t silver (0.25% CuEq).

MPD-22-005 extended the Gate zone mineralization to depth and intersected 190.2 metres of 0.19% copper, 0.12 g/t gold and 1.07 g/t silver (0.29% CuEq) within 715.2 metres of 0.13% copper, 0.07 g/t gold and 0.65 g/t silver (0.19% CuEq).

Drilling continues to demonstrate a strong correlation between coincident copper-in-soil anomalies and underlying bedrock copper mineralization, with new copper mineralization discovered adjacent to the Gate zone at the Prime target. This confirmation is important as new, compelling copper-in-soil targets with coincident geophysical signatures similar to the Gate zone will be tested by Kodiak through its continuing, fully financed drill program in 2022 and 2023. Targets include Dillard, Man, Blue and the 1516 zone.

Holes MPD-22-013 and MPD-22-017 intersected a new mineralized trend northeast of, and adjacent to Gate now called the Prime zone. When combined with historic work, drilling at Prime has identified porphyry-related alteration and copper-gold-silver mineralization over 200 metres width, with 400 metres of strike and down to 550 metres depth.

MPD-22-013 intersected 180 metres of 0.15% copper, 0.10 g/t gold and 0.61 g/t silver (0.22% CuEq) within 330 metres of 0.11% copper, 0.09 g/t gold and 0.55 g/t silver (0.17% CuEq).

MPD-22-017 intersected 183 metres of 0.16% copper, 0.07 g/t gold and 0.76 g/t silver (0.21% CuEq). A second, deeper interval extended into the Gate zone at 764 metres depth, with 96 metres of assaying 0.28% copper, 0.14 g/t gold and 0.81 g/t silver (0.38% CuEq).

The extension of the Gate zone and delineation of the new Prime zone confirm that recent 3-D induced polarization (IP) surveys are an effective tool for targeting host geology and discovering prospective porphyritic mineralization on the MPD project. Further work to extend both the Gate and Prime zones is warranted.

Drilling for 2022 is on schedule and the company has completed 33 holes totalling 21,300 metres as of September 26. Drilling has transitioned to testing high-priority targets in the Dillard area, and the program will continue evaluating additional copper-gold drill targets across the MPD property throughout the fall.

A new 3-D IP geophysical survey currently under way will be completed next month, covering 9 km2 and extending southward from the Gate zone to the Man and Dillard target area. Soil geochemical surveys covering 7.5 km2 follow up previously unknown kilometre-scale copper-gold anomalies and new prospects discovered in 2021.

MPD is a 147 km2 land package located near several operating mines in the southern Quesnel terrane, BC’s primary copper-gold-producing belt between the towns of Merritt and Princeton, with year-round accessibility and excellent infrastructure nearby.

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