Kodiak Exploration Limited: Kodiak Identifies Extensive Massive Sulphide Layers at Caribou Lake
Vancouver, British Columbia CANADA, Dec 21, 2005 (M2 PRESSWIRE via COMTEX) --
Kodiak Exploration Limited (KXL - TSX Venture), is pleased to report preliminary results from the VTEM airborne geophysical survey currently being flown over Kodiak's copper-nickel-PGE prospect near Caribou Lake, 90 kilometres southeast of Yellowknife, Northwest Territories.
The VTEM survey is only 15% complete, but results to date have already confirmed the presence of several massive sulphide bodies located along a trend of strong conductivity with a strike length in excess of four kilometres in the southern part of the gabbro. These massive sulphide bodies measure up to 550 metres long and represent high priority drill targets for Kodiak's planned winter drill program, as they are associated with a mineralized layer in the gabbro containing magmatic net-textured and semi-massive copper-nickel sulphides up to 70 metres thick from which grab samples of up to 0.97% copper, 0.62% nickel, 198 ppb platinum and 94 ppb palladium have been obtained. This mineralized layer has been traced for more than nine kilometres on surface and remains open to the northeast. It also remains open at depth. The balance of the VTEM survey will cover the entire strike extent of the mineralized layer as well as all of the Caribou Lake Gabbro and surrounding areas that measure 12 kilometres in a north-south direction and eight kilometres east-west.
The VTEM survey has also detected anomalies indicating the presence of massive sulphides three kilometres along strike to the northeast of the southern trend described above. Kodiak's prospectors discovered seven mineralized showings this year by blast pitting along a nine kilometer strike. Grab samples taken from those pits returned values up to 19.7% copper and 0.62% nickel, 0.07% cobalt, 266 ppb gold, 198 ppb platinum and 94 ppb palladium in the gabbro layer. Niccolite veins cross-cutting the mineralized layer produced grab samples containing up to 38% nickel and up to 3.8% cobalt. One pit blasted in the southern zone near the base of the mineralized layer exposed semi-massive sulphides, but did not reach the base of the sulphide layer, which remains open at depth. Grab samples from this pit returned values of up to 0.97% copper and 0.62% nickel. The location of this discovery coincides with a large massive sulphide anomaly measuring 550 metres long that will support several high priority drill targets.
With only 15% of the survey completed, Kodiak is extremely encouraged that these initial results have already provided multiple drill targets and looks forward to the results of the remainder of the survey. Kodiak will release further news as results become available. In addition, Kodiak's preparation for the much anticipated winter drill program is well underway.
Kodiak is a mineral exploration company with two properties located in Canada. Maps, photographs, geological details and additional information may be reviewed on its website at www.kodiakexp.com. The qualified persons under the definitions established by National Instrument 43-101, are Gary Vivian, P. Geo. and Trevor Bremner, P. Geo.
On behalf of the board of Directors KODIAK EXPLORATION LIMITED William S. Chornobay, President |
