Kodiak Copper has reported assays for drillhole MPD-20-005, completed within its wholly owned MPD copper-gold porphyry project in B.C.’s Quesnel Trough. This hole, drilled within a 1-km long copper-in-soil anomaly overlying the Gate zone target, hit 192 metres of 0.74% copper, 0.48 g/t gold and 2.75 g/t silver (1.21% copper-equivalent) from 308 metres.
The interval above includes a higher-grade 45-metre interval of 1.18% copper, 1.01 g/t gold and 4 g/t silver (2.13% copper-equivalent) from 401 metres. The drillhole returned a total mineralized length of 515.8 metres of 0.41% copper, 0.22 g/t gold and 1.5 g/t silver (0.63% copper-equivalent) starting at 223.5 metres.
The above intercept is the fifth hole reported from the soil anomaly – Kodiak has completed a total of 9 drillholes to date at this target, all of which intersected sulphide-bearing, altered porphyritic host rocks, which, according to the release, are “consistent with a well-developed alkalic porphyry system.”
To date, the drilling has tested up to 500 metres of potential width of the Gate zone, and 125 metres of the 1-km strike length of the copper-in-soil target.
“Hole MPD-20-005 delivered another outstanding drill result from the newly discovered Gate Zone. This hole expands the central high-grade zone previously announced in hole MPD-20-004,” Claudia Tornquist, Kodiak president and CEO, said in a release. “Importantly, we are also starting to see significant size to the larger mineralized envelope, first identified in the near-surface by shallow historic drilling and extended down to a depth of over 800 metres by Kodiak.”
Tornquist added that Kodiak has approximately $15 million on hand, to complete up to 30,000 metres of drilling. In addition, she highlighted that most of the major copper mines in the Quesnel Trough feature multiple porphyry centres – MPD includes additional historic copper showings, over an area of 10 sq. km. Kodiak also plans to test additional targets within the broader 78.5-sq.-km property next year.
(This article first appeared in the Canadian Mining Journal)