Vancouver, British Columbia--(Newsfile Corp. - December 16, 2020) - Kodiak Copper Corp. (TSXV: KDK) (the “Company” or “Kodiak”) announces plans for its ongoing exploration program at the 100% owned MPD porphyry project (“MPD”). The Company has just completed a successful 2020 drill campaign that resulted in a transformative discovery of a high-grade central core within a broader, well-developed copper-gold porphyry system at the Gate Zone. Kodiak will continue exploring at MPD in early 2021 with a fully funded, significantly larger program. Plans include up to 30,000 metres of drilling in several target areas, as well as further geophysical and geochemical surveying, prospecting and geotechnical studies.
MPD is a large, recently consolidated land package (9,733 hectares) located near several operating mines in the southern Quesnel Trough, British Columbia’s primary copper-gold producing belt. The project is located midway between the towns of Merritt and Princeton, with excellent infrastructure nearby that includes year-round road access from several paved highways.
2020 Highlights
Claudia Tornquist, President and CEO of Kodiak said, "We are very encouraged by the rapid progress we have made at MPD in such a short period of time. It has been less than a year since we first reported results from our maiden drill program and with only twelve holes drilled by Kodiak to date, results continue to exceed all expectations. The significant copper-gold discovery at the Gate Zone, followed by a strategic investment by Teck Resources have been a game changer for the Company. We are looking forward to a busy year ahead, in which Kodiak is fully funded to conduct the largest exploration campaign ever mounted at MPD. Against a backdrop of copper prices rallying strongly we are confident we can build on our exploration success to date and continue to add significant value for our shareholders in 2021."
2021 Exploration Plans
Figure 1: MPD Target Areas, 2020 ZTEM Survey - Total Magnetic Intensity (RTP) with historic Cu overlay (heat contours) (Source: 2020 Compilation and GeoInterp, Condor Consulting
To view an enhanced version of Figure 1, please visit:
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Figure 2: MPD Target Areas, 2020 ZTEM Survey - 3D view with 300 & 500 ohm-m resistivity isosurfaces (Source: 2020 ZTEM Survey, Geotech)
To view an enhanced version of Figure 2, please visit:
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Jeff Ward, P.Geo, Vice President Exploration and the Qualified Person as defined by National Instrument 43-101, has reviewed, and approved the technical information contained in this release. Kodiak believes historic results referenced herein to be from reliable sources using industry standards at the time. However, the Company has not independently verified, or cannot guarantee, the accuracy of this historic information.
For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360 or [email protected].
On behalf of the Board of Directors
Kodiak Copper Corp.
Claudia Tornquist
President & CEO
About Kodiak Copper Corp.
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 in south-central British Columbia, Canada, where the Company made a discovery of high-grade mineralization within a wide mineralized envelope in 2020. Kodiak also holds the Mohave copper-molybdenum-silver porphyry project in Arizona, USA, near the world-class Bagdad mine. Kodiak's porphyry projects have both been historically drilled and present known mineral discoveries with the potential to hold large-scale deposits.
The Company also holds the advanced-stage Kahuna diamond project in Nunavut, Canada. Kahuna hosts a high-grade, near surface inferred diamond resource and numerous kimberlite pipe targets.
Kodiak's founder and Chairman is Chris Taylor who is well-known for his gold discovery success with Great Bear Resources. Kodiak is also part of Discovery Group led by John Robins, one of the most successful mining entrepreneurs in Canada.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement (Safe Harbor Statement): This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the Company's exploration plans. Although the Company believes that the expectations and assumptions on which the forward looking statements are based are reasonable, undue reliance should not be placed on the forward looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with conditions in the equity financing markets, and assumptions and risks regarding receipt of regulatory and shareholder approvals.
Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward looking statements, whether as a result of new information, future events or results or otherwise.
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