Kodiak Copper drills 105 metres of 0.76% CuEq at MPD, British Columbia

Geologists examining copper exposure at Prime Zone, MPD

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

Nine new Gate zone drill holes are presented in this release. These holes define additional mineralization toward the centre of the zone and expand the margins of the zone to the south and west. The Gate zone porphyry target remains open to extension in multiple directions.

One of Kodiak’s two drill rigs at MPD has been relocated to the Dillard copper-gold porphyry target, while one rig remains at the Gate zone.

Kodiak’s continuing exploration at MPD includes drilling with two rigs, prospecting mapping, trenching, geophysical, geochemical and environmental surveying. The fully financed 2021 program is progressing well and remains on budget.

Three new drill holes completed along approximately 500 metres of strike length underlying the central Gate zone copper-in-soil target once again intersected significant grades and interval lengths of copper-gold mineralization.

Highlights include new drill hole MPD-21-016 that intersected 105 metres of 0.50% copper, 0.39 g/t gold and 1.57 g/t silver (0.76% copper equivalent) within a broader 504-metre interval of 0.37% copper, 0.15 g/t gold and 1.11 g/t silver (0.47% CuEq). Hole MPD-21-016 was mineralized from near surface at 21 metres to 720 metres downhole (699 metres) and represents the third best hole drilled by Kodiak to date (copper per cent grade multiplied by width).

New drill hole MPD-21-012 intersected 108 metres of 0.45% copper, 0.09 g/t gold and 0.59 g/t silver (0.51% CuEq) within a broader 243-metre interval of 0.31% copper, 0.08 g/t gold and 0.35 g/t silver (0.36% CuEq).

New drill hole MPD-21-024 intersected 42 metres of 0.32% copper, 0.34 g/t gold and 1.56 g/t silver (0.5% CuEq) within a broader 447-metre interval of 0.21% copper, 0.11 g/t gold and 0.72 g/t silver (0.2% CuEq).

Six new drill holes targeted the pyrite-dominated envelope surrounding higher-grade mineralization to help define the dimensions of the Gate zone porphyry centre. Two of these new drill holes intersected significant gold mineralization within quartz-carbonate veins and structurally controlled quartz-sericite-pyrite alteration zones on the eastern and western margins of the Gate zone.

Drill hole MPD-21-015 intersected 6.0 metres of 2.40 g/t gold. Drill hole MPD-21-011 intersected 3.5 metres of 3.58 g/t gold. Drill hole MPD-21-007 intersected 132 metres of 0.15% copper, 0.08 g/t gold and 0.43 g/t silver (0.21% CuEq). Drill hole MPD-21-013 intersected 318 metres of 0.14% copper, 0.06 g/t gold and 0.13 g/t silver (0.20% CuEq).

Continuing systematic drilling at the Gate zone has successfully intersected porphyry-related mineralization and host lithology along 950 metres of strike, having the depth (850 metres) and width (350 metres) typical of other multicentre copper porphyry deposits in British Columbia.

The high-priority Dillard target exhibits similar copper-in-soil anomalies, geophysical responses and encouraging historic drilling to the Gate zone. Dillard will be drill tested during the remainder of Q4 as part of the 2021 program. Like at the Gate zone, most historic drilling at Dillard was shallow.

Thirty-four holes (18,724 metres) have been drilled as of Oct. 17 and assay results will be reported throughout the remainder of 2021 and onward; delays in lab throughput times continue. The company expects to achieve between 20,000 and 25,000 metres of drilling before year-end.

Additional plans in Q4 include a DC (direct current) resistivity/induced polarization (3-D IP) and magnetotelluric (MT) geophysical survey at the Gate zone conducted by SJ Geophysics Ltd.

A large exploration program is planned for 2022 and drilling will continue in Q1 2022. The program will include assessing the 3-km 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.

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