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Kodiak Copper Corp
Symbol KDK
Shares Issued 36,664,188
Close 2020-07-10 C$ 0.49
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Kodiak Copper begins drilling MPD

2020-07-13 09:46 ET - News Release

Ms. Claudia Tornquist reports


Kodiak Copper Corp. has commenced a fully financed phase II drill program at its 100-per-cent-owned MPD copper-gold porphyry project in Southern British Columbia. The program will consist of 4000 metres of diamond drilling designed to follow-up on the recent Gate Zone discovery, and drill test an analogous high-priority target at the Dillard Zone. Kodiak has also increased the size of the project by staking an additional 18.8 square kilometres of mineral claims, bringing the total size of the MPD property to 97.3 square kilometres.

"We are very pleased to be drilling again at MPD," commented Claudia Tornquist, President and CEO of Kodiak. "Our first drill program ended on a high note with the discovery of the Gate Zone. Subsequent geophysical work now shows that high-grade drill intervals at Gate are on the edge of a large resistivity anomaly and interpreted porphyry centre. It will be very exciting to drill-test this sizeable new anomaly and expand the mineralization at Gate further. MPD hosts many other potential drill targets across a large, 10 square kilometre area containing historic copper and gold mineralization. As part of this Phase II program we have prioritized the Dillard Area as a target that certainly warrants drill testing as well. Like at Gate, the objective is to test below shallow historic drilling where new geophysics has identified a large resistivity and magnetic anomaly. We look forward to continue unlocking the value of MPD and appreciate the project's location, ease of access and nearby infrastructure, especially during these unusual times."

2020 Phase II Drill Program

The 2020 exploration program at MPD began with a property-wide ZTEMTM airborne geophysical survey which provided important data down to a depth of 1000 metres and helps the Company prioritise targets for this and future drill campaigns (see Kodiak news releases dated April 8, 2020 and June 17, 2020).

Mobilization of field staff and equipment has commenced for 2020 Phase II diamond drilling at MPD. The program will initially focus on expanding significant drill results from the Gate Zone, using step-out drilling to expand the high-grade mineralization drilled last year, as well as determine its relationship to newly identified geophysical anomalies. Phase II drilling will also test similar copper-gold mineralization reported in historic holes in the Dillard Area, located 2 kilometres southeast of the Gate Zone. The 2020 Phase II drill program at MPD will consist of approximately 4000 metres of core drilling with results expected in Q3.Figure 1 - Gate Zone: Cross-sections of historic drilling, Kodiak's hole MPD 19-003 and new ZTEM 2D Resistivity. The left panel is a colour contour of Cu% with colour bars of Cu% (green) and Au g/t (red) in core. The right panel is a colour contour 2D resistivity section from the recent airborne ZTEM survey.

As part of 2020 exploration at MPD, the Company is revisiting historic gold trends at Dillard East. Over the past several weeks, crews have been prospecting and carrying out soil geochemical surveys to ground-truth these anomalies.

Furthermore, Kodiak has staked an additional 18.8 square kilometres of mineral tenure adjacent to MPD. This new staking has increased the size of the MPD property to 97.3 square kilometres.

Protecting the health and safety of our workforce and communities we work in is our highest priority. All field work will follow the Company's internal health and safety plan, which includes appropriate operational procedures and social distancing protocols in accordance with Federal and BC Provincial COVID-19 guidelines.

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.

About Kodiak Copper Corp.

Kodiak is focused on its portfolio of 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 in 2020. Kodiak also holds the Mohave copper-molybdenum-silver porphyry project in Arizona, USA, near the world-class Bagdad mine. The Company's Trapper copper-gold porphyry project is located in the northern Golden Triangle region of British Columbia. All three of Kodiak's porphyry projects have been historically drilled and present known mineral discoveries with the potential to hold large-scale deposits.

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