19:33:53 EDT Wed 16 Jun 2021
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Kodiak Copper Corp
Symbol KDK
Shares Issued 41,144,364
Close 2021-03-12 C$ 1.57
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Kodiak Copper resumes drilling at MPD project

2021-03-15 07:48 ET - News Release

Ms. Claudia Tornquist reports


Kodiak Copper Corp. has resumed the drill program on its fully financed exploration program at the 100-per-cent-owned MPD copper-gold porphyry project. 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.

2021 exploration highlights

  • Plans for 2021 include up to 30,000 metres of drilling in several target areas, as well as further geophysical and geochemical surveying, prospecting, and geotechnical studies.
  • Drilling will initially focus on the Gate zone, where Kodiak has intersected broad intervals of high-grade mineralization and which remains open in multiple directions.
  • Stepout drilling at Gate will systematically evaluate the approximately one-kilometre-long copper-in-soil anomaly within a related magnetic anomaly spanning three kilometres, of which to date only approximately 100 metres at the northern tip have been drilled.
  • Other high-priority targets slated for drilling are Dillard and Dillard East which -- like the Gate zone -- are characterized by regional magnetic lows, copper-in-soil anomalies and encouraging mineralization in historic drilling.
  • Exploration to date shows all the hallmarks of a large, well-developed, multicentred alkalic porphyry system at MPD, with copper and gold mineralization historically drilled over 10 square kilometres.
  • Drilling will commence with a single drill rig, with plans to add further rigs as work progresses.
  • The program will be run out of Kodiak's newly established field office and technical facility in Merritt, which provide core logging, sampling and storage capacity.

Claudia Tornquist, president and chief executive officer of Kodiak, said: "I commend our technical team for a well-executed and very successful exploration campaign in 2020 that resulted in a transformative discovery for Kodiak. This year is shaping up to become an equally exciting year for Kodiak's shareholders as we are embarking on a significantly larger-scale drill program, the largest in the history of the project."

Kodiak has also granted 10,000 stock options to a consultant of the company, exercisable at $1.57 per share for a period of five years.

Jeff Ward, PGeo, vice-president of 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 100-per-cent-owned copper porphyry projects in Canada and the United States. 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, 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.

Chris Taylor, Kodiak's founder and chairman, 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.

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