Kodiak Confirms Potential of MPD Northwest Claims and Adds Further Strategic Claims; New Focus Area for 2025
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February 12, 2025 6:00 AM EST | Source: Kodiak Copper Corp.
Vancouver, British Columbia--(Newsfile Corp. - February 12, 2025) - Kodiak Copper Corp. (TSXV: KDK) (OTCQB: KDKCF) (FSE: 5DD1) (the "Company" or "Kodiak") today reports the Company's first regional exploration results from the MPD Northwest claims that were acquired in autumn 2024 (formerly Aspen Grove, see news release September 16, 2024) at its 100% owned MPD copper-gold porphyry project in southern British Columbia. The MPD Northwest claims host the high-grade, near-surface Ketchan Zone which will form a meaningful part of the upcoming MPD mineral resource estimate, and multiple other known mineral occurrences, providing considerable exploration upside. Historical data has also been analyzed, leading to the acquisition of new claims.
View Video of CEO Claudia Tornquist and VP Dave Skelton Discuss the News
Highlights
- MPD Northwest is a large 118 square kilometre claim package recently added to MPD. It hosts 18 known mineral occurrences, including six with significant porphyry-related copper-gold. Figure 1
- The large-scale Ketchan Zone adds significant drill-proven, near-surface, high-grade copper-gold inventory to MPD. It has been drilled over 1,800 by 500 metres - roughly three times the area of Kodiak's Gate Zone discovery- and remains open in most directions. Figure 2
- Bedrock grab samples collected in 2024 confirm high-grade mineralization at Ketchan. The best two samples assayed 0.55 % Cu, 0.32 g/t Au and 0.5 g/t Ag and 0.38 % Cu, 0.78 g/t Au and 1.7 g/t Ag respectively. Figure 3, Table 1
- Data review, select core re-logging, sampling and geological modelling has confirmed that Ketchan will be a material part of the upcoming MPD mineral resource estimate.
- The Ketchan Zone is located only 4.5 kilometres from the high-grade Gate Zone. This proximity and potential synergies with Gate, plus multiple nearby targets prioritizes this area . Figure 1
- Modelling with VRIFY's Artificial Intelligence (AI) software has identified new prospective areas at MPD Northwest, including potential extensions to the Ketchan Zone. Figure 4
- Regional exploration has confirmed substantial mineralization through early-stage prospecting, mapping and soil geochemistry at select sites along the northerly trend of mineral showings central to MPD Northwest. Figure 3
- An additional three claims have been added to the MPD Northwest claim block. These secure strategic tenure in the Ketchan area interpreted to potentially host extensions to that zone (the Delorme claims) and high-grade showings in the north (the Tom claim).
Claudia Tornquist, President and CEO of Kodiak said, "We are delighted with the results from our initial exploration work and the historic data review at the MPD Northwest claims, which very much validate our decision to acquire these claims last autumn. The drilling done by previous operators at the Ketchan Zone has outlined a mineralized zone of significant scale and with good grades. Not only are we confident that the Ketchan Zone will become a material part of our resource estimate, we also believe there is ample room to expand it in multiple directions. We are equally exited about the targets and prospectivity of the wider MPD Northwest claim package, which hosts drill-proven copper and gold mineralization as well as untested targets with the potential for new discoveries. As we are plan our 2025 exploration program, MPD Northwest is certainly a priority."
Figure 1: Map of project areas and exploration targets discussed in this release - MPD Project, Southern BC. Tom claim and Delorme inlier claims have now been added to the project.
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Ketchan Zone
The Ketchan Zone is a near-surface, high-grade porphyry copper-gold system defined by historic geophysics, geological mapping and drilling. It is located six kilometers east of Highway 5A and 4.5 kilometres from Kodiak's Gate Zone discovery.
Historic drilling of 15,582 metres in 86 holes up to 2016 indicates that the Ketchan Zone comprises a large porphyry system with almost twice the currently drilled strike length of Kodiak's high-grade Gate Zone. Ketchen has been drilled over 1,800 by 500 metres compared to 1,000 by 300 metres at Gate. Mineralization extends from bedrock surface to generally over 400 metres depth. This system remains open in several directions (see Figure 2).
Work at Ketchan by Kodiak to date consists of grab sample prospecting and review of historic work. This confirmed the suitability of Ketchan for inclusion in an upcoming resource estimate at MPD, as announced on January 16, 2025. New work in 2025 will aim to further expand the Ketchan Zone through drilling.
Figure 2: Ketchan Zone northwest-southeast long section with historic drill results to 2016. Select historic intervals show significant shallow mineralization along 1.8 kilometres of strike length.
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MPD Northwest Exploration Results
The MPD Northwest claims host 18 known mineral occurrences, including six with significant porphyry-related copper-gold (+/- silver, molybdenum): Ketchan, Par, Zig, Thalia, Thor and Coke. Since the acquisition in September 2024, the Company conducted early-stage regional exploration on these claims and performed an initial analysis using VRIFY's Artificial Intelligence (AI) engine.
Prospecting Results
Kodiak collected a total of 38 rock samples from prospecting on the MPD Northwest claim block in 2024. The focus was to obtain representative samples from most mineralized targets to confirm grades and understand geology. More follow-up is planned in 2025. Select highlight assays from this work are included in Table 1 and Figure 3.
The highest copper and silver prospecting results in 2024 from MPD Northwest assayed 3.39 % Cu and 16.9 g/t Ag from the Thalia Target area in northwestern portion of the project (sample 222339). The sample was taken from chalcocite veins hosted in porphyry tuff and sandstone.
The highest grading gold-rich copper mineralization was returned from sampling in the Ketchan Zone area and assayed 0.55 % Cu, 0.32 g/t Au and 0.5 g/t Ag (sample 222321) and 0.38 % Cu, 0.78 g/t Au and 1.7 g/t Ag (sample 222343).
Table 1: 2024 Prospecting Result Highlights MPD Northwest
| Sample | Easting
UTM Nad83 Z10 | Northing
UTM Nad83 Z10 | Prospect | Cu
% | Au
g/t | Ag
g/t | Host Rock Type | | 222339 | 674496 | 5524190 | Thalia | 3.39 | 0.00 | 16.9 | veins in porphyry-tuff-sandstone | | 222319 | 672448 | 5525510 | Zig | 1.34 | 0.01 | 3.9 | monzonite
(boulder) | | 222318 | 672144 | 5526920 | Nor | 1.20 | 0.01 | 2.8 | conglomerate | | 222321 | 676758 | 5516509 | Ketchan | 0.55 | 0.32 | 0.5 | monzonite | | 222335 | 676884 | 5516556 | Ketchan | 0.53 | 0.23 | 2.6 | monzonite | | 222311 | 676220 | 5517030 | Ketchan | 0.44 | 0.42 | 2.1 | monzonite | | 222343 | 676147 | 5516799 | Ketchan | 0.38 | 0.78 | 1.7 | monzonite-gabbro breccia | | 222334 | 677001 | 5516360 | Ketchan | 0.27 | 0.38 | 1.2 | monzonite | | 222322 | 670064 | 5520377 | Par | 0.15 | 0.62 | 1.8 | rhyolite |
Soil Geochemical Results
Two preliminary soil sample grids were completed on the MPD Northwest claims in late 2024 to determine till characteristics and test geochemical soil sampling methods. Survey grids covered the Ketchan and Par Zones and totaled 136 samples. Samples of "B" horizon subsoil (300 to 500 g) were collected at a nominal spacing of 50 metres along lines 100 metres apart (see Figure 3).
Kodiak's geochemical work in 2024 corroborated copper in known target areas. Highly anomalous copper values up to 960 ppm were returned from the soil sampling. Kodiak is planning broader soil geochemical surveys in key target areas as part of regional exploration in 2025, including alternate survey methods.
Figure 3: 2024 Exploration Activity on the MPD Northwest Claims. 2024 soil survey grids are outlined in green, 2023-2024 prospecting samples as triangles and newly acquired strategic claims are outlined in magenta.
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VRIFY AI Targeting
Historic and new MPD Northwest data is being incorporated into VRIFY's AI targeting software and merged with the extensive data from the rest of the MPD Project.
Results to date from the AI analysis are encouraging, highlighting known target areas at MPD Northwest, but also identifying a number of new prospective areas adjacent to important zones like Ketchan showing the potential to expand these zones (see Figure 4). Areas identified by VRIFY AI will be investigated as part of the 2025 exploration program.
Figure 4: Screenshot of VRIFY AI 3D geo-targeting model at Ketchan Zone, MPD Northwest claims looking northeast. Image highlights VRIFY Areas of Interest central to known mineralization at Ketchan, and adjacent areas for follow-up in 2025. Peaks and heat map colours show the AI ranking for Cu-Au mineralization. Delorme claims are now also owned by Kodiak.
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Additional Claim Acquisitions
Delorme Claims
The Company has acquired a 100% interest in two claims internal to Kodiak's MPD Northwest claim block (the "Delorme claims"). The Delorme claims are situated adjacent to and immediately southeast of the Ketchan Zone, which will form part of the upcoming resource estimate. Historic sampling in the area reported up to 0.71% Cu, 0.36 g/t Au and 6.5 g/t Ag, suggesting the potential to extend the drilled Ketchan Zone onto these Delorme claims (see Figures 1, 3 and 4).
Kodiak entered into a claim purchase agreement with Christopher and Guy Delorme who are private and arms-length vendors. The transaction is subject to the approval of the TSX-Venture Exchange and other customary conditions. Consideration for Delorme claims consists of 143,349 Kodiak common shares upon closing of the transaction and the vendors will retain a 0.5% net smelter return royalties ("NSR"). Kodiak shall retain the right to buy back the entire NSR at anytime for $250,000.
Tom Claim
The "Tom claim" was acquired by staking in 2022 and transferred to the Company in 2024. The claim is contiguous to the MPD Northwest claims (see Figures 1 and 3).
Historic work at Tom has identified at least six showings on this 500 ha claim. Exploration dating back to the 1950's has focused on the Tomcat and Boomerang showings which host oxide/skarn-like chalcocite zones and porphyry-style mineralization.
Preliminary exploration by Kodiak in 2022 to 2023 has confirmed historic showings and the potential for high-grade copper-gold on the Tom claims. Kodiak's work included the collection of 98 soil samples and two rock samples. Soil geochemical traverses confirmed the copper-gold target at Boomerang, plus additional anomalies not associated with known occurrences. A rock sample in 2022 tested porphyritic monzodiorite with chalcocite veins and bornite at Boomerang, assaying 3.11 % Cu, 2.36 g/t Au and 11.95 g/t Ag. More work is warranted.
MPD is a large land package (344 square kilometres) located near several operating mines in the southern Quesnel Terrane, British Columbia's primary copper-gold producing belt. The project is located between the towns of Merritt and Princeton, with year-round accessibility and excellent infrastructure nearby.
QA/QC Procedures
All rock and soil samples were sent to ALS Canada Ltd. (ALS) in North Vancouver, BC for preparation and analysis. ALS meets all requirements of International Standards ISO/IEC 17025:2005 and ISO 9001:2015 for analytical procedures. Rock samples were analyzed using ALS's Fire Assay Fusion method (Au-AA24) with an AA finish for gold and by 48 element four acid digest ICP-AES analysis (MS61) with additional analyses for Ore Grade Elements (ME-OG62) and Ore Grade Cu (Cu-OG62). Soil samples were analyzed using ALS's AuME-ST43 Super Trace Au + Multi Element package. Results were reported in parts per million (ppm) and converted to percent (%), grams per tonne (g/t) or parts per billion (ppb) when applicable. In addition to ALS Laboratory quality assurance / quality control (QA/QC) protocols, Kodiak implements an internal QA/QC program that includes the insertion of sample blanks, duplicates, and standards in the field.
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.
On behalf of the Board of Directors
Kodiak Copper Corp.
Claudia Tornquist
President & CEO
For further information contact:
Nancy Curry, VP Corporate Development
ncurry@kodiakcoppercorp.com
+1 (604) 646-8362
About Kodiak Copper Corp.
Kodiak is focused on its 100% owned copper porphyry projects in Canada and the USA that have been historically drilled and present known mineral discoveries with the potential to hold large-scale deposits. The Company's most advanced asset is the MPD copper-gold porphyry project in the prolific Quesnel Terrane in south-central British Columbia, Canada, a mining district with producing mines and excellent infrastructure. MPD has all the hallmarks of a major, multi-centered porphyry district with the potential to become a world-class mine. Work to date has outlined multiple substantial mineralized zones across the property, including several zones with near-surface, high-grade mineralization. A maiden resource estimate for MPD is planned in 2025 and with known mineralized zones open to expansion and more target areas yet to be tested, Kodiak continues to systematically explore the project to build critical mass and make the next discovery. The Company also holds the Mohave copper-molybdenum-silver porphyry project in Arizona, USA, near the world-class Bagdad mine.
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.
 SOURCE: Kodiak Copper Corp. |
