Canadian explorer Kodiak Copper (TSX-V:KDK) will soon begin a 10,000m drilling program at its MPD copper-gold porphyry project in southern British Columbia.
The company, which has a market capitalisation of C$30.1 million ($32.9 million), is mobilising two rigs to site to start drilling six targets at the MPD North and MPD South prospects.
Drilling will be aimed at locating high-grade mineralisation, expanding the near-surface mineralisation around known zones, and making new discoveries.
CEO Claudia Tornquist says Kodiak will be fully funded for a substantial drill program on completion of its non-brokered $6.6 million private placement announced in early June.
“For our 2024 program we have prioritised high-confidence targets near existing zones to expand mineralisation, and new targets that present fresh discovery potential,” she says.
“We will continue to build critical mass and focus particularly on adding and expanding near-surface mineralisation and higher-grade zones.”
Using the VRIFY artificial intelligence platform, Kodiak has identified nine additional areas of interest, either adjacent to known copper-porphyry zones or as new priority regions that will be followed up this year.
The company plans to undertake 25-line kilometres of new 3D induced polarisation surveying and a 2,000-sample soil geochemical survey to advance these areas to a drill-ready state.
Regional exploration at MPD last year identified five new targets that Kodiak will also undertake additional exploration on to make drill ready.
Write to Angela East at Mining.com.au
Images: Kodiak Copper
