Kodiak Copper stock rises following high-grade gold-silver find in BC

Kodiak Copper (TSXV: KDK; US-OTC: KDKCF) has made new high-grade gold-silver discovery from trenching at its 100% owned MPD copper-gold porphyry project in southern British Columbia. The discovery was made on surface within the Beyer Zone, where the company previously reported a surface sample that assayed 14.15 grams gold per tonne and 9.4 grams silver.

Trench sampling has now expanded this new surface gold-silver discovery with 3.02 grams gold and 24.18 grams silver over 12 metres, including 5.29 grams gold and 27.7 grams silver over 2 metres from north-south. Trenching from east-west also assayed 9.11 grams gold and 24 grams silver over 2 metres, with a parallel zone 8 metres west assaying 2.6 grams gold and 10.1 grams silver over 2 metres.

Approximately 14 metres of hydrothermally altered and mineralized rock has been exposed in the two trenches excavated to date, which remains open to extension.

The Beyer Zone discovery was made within a 2.2-km-long, 750-metre wide gold-in-soil corridor discovered during Kodiak’s 2019 and 2021 soil sampling campaigns. Trenching at the Beyer Zone followed up these gold-in-soil anomalies, with a chip sample returning 11.75 grams gold and 42.5 grams silver over 2.3 metres earlier this year.

“The Beyer gold-silver discovery is an exciting new development as it sits within a multi-kilometre, completely untested new gold-in-soil trend. It is remarkable because this is the first time sizable intervals of high-grade gold-silver mineralization have been trenched at the MPD project,” Claudia Tornquist, president and CEO of Kodiak, commented.

She noted that the mineralization and alteration remain open along strike, making extension of these trenches an “obvious follow-up for 2023.”

The trenching at the Beyer Zone was part of Kodiak’s broader, regional exploration program to evaluate untested copper-gold targets across the MPD property. This work has been conducted in parallel with the fully funded 25,000-metre drill program on several copper-gold porphyry targets, from which further results will continue to be reported.

The MPD property comprises a 147 sq. km land package located near several operating mines in the southern Quesnel Terrane, British Columbia’s primary copper-gold producing belt.

Following Kodiak’s Gate Zone discovery in 2020, ongoing drill programs over the past two years have significantly expanded the size and depth of the known mineralization to one kilometre of strike length, 350 metres width and 900 metres depth. The company is now expanding exploration efforts to new areas, evaluating copper-gold zones like Dillard, Man, Axe and new high-grade gold-silver trends like the Beyer discovery.

Shares of Kodiak Copper closed 16.2% higher on the TSX Venture Exchange on Tuesday, giving the Vancouver-based junior a market capitalization of $64 million.