Kodiak Copper’s New Gold-Silver Discovery Underlines MPD’s Mineral Prospectivity

Explorer Kodiak Copper Corp. has reported a high-grade gold-silver discovery on its flagship MPD copper-gold project, highlighting the continued discovery potential of the 147km2 MPD property located in South-Central British Columbia (see Exhibit 1).

Called the Beyer Zone, the discovery this past summer is the result of Kodiak’s follow-up on a regional geochemical survey, as part of its broader, regional exploration program to evaluate untested copper-gold targets across the MPD property.

The company undertook the work in parallel with its fully funded 25,000m drill program on several more advanced copper-gold porphyry targets, from which more results and news flow are anticipated.

Exhibit 1. Plan Map of Kodiak’s MPD Copper-Gold Project.

According to Kodiak’s Dec. 5 news release (see link below), the discovery was made at surface within the newly coined Beyer Zone, where the company previously reported a grab sample that assayed 14.15 grams per tonne (g/t) gold and 9.4 g/t silver.

Trench sampling has now expanded this discovery and returned 3.02 g/t gold and 24.18 g/t silver over 12m, including 5.29 g/t gold and 27.7 g/t silver over 2m from a north-south trench. An east-west trench assayed 9.11 g/t gold and 24 g/t silver over 2m and a parallel zone 8m west, returned 2.6 g/t gold and 10.1 g/t silver over 2m (see Exhibit 2).

Kodiak notes that about 14m of hydrothermally altered and mineralized rock has been exposed in the two trenches excavated to date, which remain open to extension.

Exhibit 2. Beyer Zone Trench Plan Map.

The Significance

Kodiak made the Beyer Zone discovery within a 2.2km-long, 750m-wide gold-in-soil corridor discovered during Kodiak’s 2019 and 2021 soil sampling campaigns (Exhibit 3). Trenching at the Beyer Zone followed up these gold-in-soil anomalies plus a chip sample that returned 11.75 g/t gold and 42.5 g/t silver over 2.3m earlier this year.

Exhibit 3. Beyer Zone Overlaid on Gold Geochemical Survey Map

In addition to gold, the Beyer Zone trenching results contain elevated pathfinder elements such as arsenic, antimony, bismuth, and tellurium, which can be used for geochemical vectoring and new target generation across the MPD property.

Extensive drilling at the nearby Gate and Man Zones has demonstrated a close association between shallow bedrock mineralization and soil geochemistry. As such, the 2.2km by 750m gold-in-soil trend hosting the Beyer Zone is interpreted as having a localized source.

Kodiak’s interpretation of the trenching results confirms the Beyer Zone is a hydrothermal alteration zone associated with a southerly trending contact or related shearing. It separates the quartz diorite porphyry on the west side from a more strongly altered hornblende phyric diorite unit to the east (see Exhibit 4). This intensely altered argillic zone is up to 18m wide, extending to the north and east end of trenching, and contains a narrower, high-grade gold-silver silicified zone.

Exhibit 4. Beyer Zone Trenching.

Next Steps

Following Kodiak’s Gate Zone discovery in 2020, drill programs in 2021 and 2022 have significantly expanded the size and depth of the known mineralization at the Gate Zone to 1km of strike length, 350m width and 900m depth. In addition, the company is now expanding exploration efforts to new areas, evaluating copper-gold zones like Dillard, Man, Axe and the new high-grade gold-silver trends like the Beyer discovery.

The Beyer Zone is slated for additional trenching and drilling as part of the 2023 program.

Kodiak’s application of geophysics and geochemistry has expanded the potential for additional discoveries using new pathfinder elements.

With $8 million cash in the bank, we expect Kodiak remains funded well into 2023, ensuring a steady flow of news and value catalysts.

For complete information about Kodiak Copper, please visit the website by clicking here.

The full press release is available here.

Company Highlights

• MPD is a 100% Kodiak-owned copper porphyry project in British Columbia and encompasses 147km2 in an established mining region.
• Low-risk jurisdiction, high standards for environmental stewardship and community engagement.
• Discovery of high-grade mineralization in 2020 at the Gate Zone.
• Further drilling significantly expanded the Gate Zone to over 1km in length, 350m in width and 900m in depth to date, open in multiple directions.
• MPD has all the hallmarks of an extensive, multi-centred porphyry system
• Fully funded, 25,000-metre drill programme will further test the Gate Zone, and several other porphyry centres with similar discovery potential.
• Experienced management:
  • John Robins’ Discovery Group backs Kodiak.
  • Founded by Chairman Chris Taylor (former President and CEO of Great Bear Resources which Kinross Gold acquired in 2022 for $1.8 billion).
  • Led by Claudia Tornquist (former GM at Rio Tinto and former VP Business Development at Sandstorm Gold).
• Teck Resources owns 9.9% of Kodiak.
• The expansive, under-explored property is in a proven, mineral-producing belt in the Quesnel Trough with mines nearby, such as Copper Mountain, Highland Valley and New Afton, some of which share similar geology to MPD.
• MPD has access to world-class infrastructure with a skilled local workforce and services available.
• British Columbia entails a low-risk jurisdiction with high regulatory standards for environmental stewardship and community engagement.