Kodiak Copper (KDK) - Second Discovery Hunt is Funded

Kodiak Copper Corp. is a Canadian exploration company focused on its exploration projects located in Northern America. The MPD project of the company is its main focus, specifically the Gate Zone at which it reported its first discovery in 2020. The company also has a copper-molybdenum-silver porphyry project in Arizona, USA namely the Mohave project and a diamond resource that holds numerous kimberlitic targets, the Kahuna project located in Nunavut, Canada.

The MPD Copper-Gold Porphyry project of the company is a 100%-owned and approximately 14,716-hectare large land package in South-Central British Columbia. The project has year-round access thanks to its adjacency to a highway and consists of four properties, namely the Man, Prime, Dillard and Axe properties. Kodiak Copper Corp., discovered the high-grade Gate Zone of the MPD project in 2020, with initial assay results showing highlights of 0.74% copper, 0.48 g/t gold and 2.75 g/t silver. The company further conducted exploration drilling at the Gate Zone in 2021 which traced the mineralisation of the zone and enabled its expansion to 850 m in depth, across a width of 350 m and over 950 m in length. The mineralisation of the Gate Zone remains open in multiple directions.

Kodiak Copper Corp. on the 13th of September 2022 provided an update to its 2022 exploration drilling program. The company announced that it had completed 19,150 m of drilling up to the 9th of September 2022. The first portion of the 2022 exploration drilling program was focused on the Gate Zone of the project, with the company conducting infill drilling. The first portion of the drilling program also aimed to test adjacent targets which show similar mineralisation. The 2022 exploration drilling program had transitioned to evaluating widespread additional targets for copper-gold mineralization across the rest of the MPD project. The company on the 29th of September 2022 released assay results from its ongoing exploration drilling program. The highlights of the assay results included the extension of the gate zone by 50 m to a depth of 900 m. The company also intercepted 0.69% Cu, 0.46 g/t Au and 2.22 g/t Ag over 117 m within a wider mineralisation zone of 735.4 m at 0.24% Cu, 0.14 g/t Au and 0.71 g/t Ag.

Kodiak Copper Corp. is well funded and sits with approximately CAD$ 10 million in its treasury. The company’s cash position enables it to pursue its planned 2023 exploration drilling program, in contrast to various of its peers which struggle in the downed market to raise the necessary funds for exploration activities.

Management

The company is led by Claudia Tornquist, who serves as the president and CEO of Kodiak Copper Corp. Tornquist previously served as the General Manager of Rio Tinto’s copper operations and also served as the Executive Vice President of Business Development for the streaming company Sandstorm Gold.

Mark Laycock joined Kodiak Copper Corp. in September 2022 and brings with him 15 years of accounting and finance experience in privately- as well as publicly traded companies on both Canadian and US stock exchanges. Laycock has provided senior accountant and financial reporting services to various companies including Great Bear Resources Ltd., Northern Empire Resources and Solstice Gold Corp.

Jeff Ward is the Vice President of Exploration for the company and has more than 35 years of experience in base metals, precious metals, diamonds and uranium projects throughout Canada. He served as the President and Regional Project Manager for Kivalliq Energy Corporation. He holds vast amounts of experience in grass-roots exploration as well as advanced evaluation, resource definition and feasibility assessment.

Andrew Berry is the Vice President of Operations for the company and has been involved in underground and surface mining operations for more than 35 years. He has worked within the gold, copper, uranium and diamond sectors in North and South America as well as in Africa. He previously served as the chief operating officer of Kivalliq Energy Corporation.

Nancy Curry is the Vice President of Corporate Development for Kodiak Copper Corp. and has been involved in corporate communications and development for more than 25 years. She has been involved in various phases of a mining operation including grassroots exploration up to the development stage. She has also been nominated twice for Best Investor Relations practitioner of a TSX-V listed company by IR Magazine.

Emily McNie and Harpreet Bajajhas completed the management team of Kodiak Copper Corp. McNie is the director of sustainability for the company and has more than 10 years of experience in precious metals, base metals, uranium and diamonds throughout British Columbia, Nunavut and Saskatchewan. Bajajhas is the company’s corporate secretary She has more than 13 years of experience in compliance and investment banking and also holds an MBA.

The company’s management team is tasked with advancing its MPD project.

MPD project

The MPD Copper-Gold Porphyry project is a 147 km2 land package located in South-Central British Columbia, Canada. The project is 100%-owned by the company and consists of four properties, the Man, Prime, Dillard and Axe properties. The project is adjacent to the highway with year-round access.

The project hosts more than 50,357 m of historic drilling data which has been completed since the 1960s. Kodiak Copper Corp. in its 2019 maiden drill program at the MPD program, discovered the high-grade Gate zone of the project. The Gate Zone hosts mineralisation which includes 535 m of 0.49% copper and 0.29 g/t of gold, which includes an intercept of 0.70% copper and 0.49 g/t of gold over 282 m.

Kodiak Copper Corp. is currently underway with a 25,000 m drill program which is aimed at expanding the Gate zone, but also identifying further high-grade mineralisation at the project. The company also has best-practice heritage and environmental programs in place for the project, which include among other things water quality hydrology and incidental wildlife surveys. The MPD project further enjoys the support of the local first nations.

2022 Exploration Program and discoveries

Kodiak Copper Corp. on the 13th of September 2022 provided an update to its 2022 exploration drilling program. The company announced that it had completed 19,150 m of drilling up to the 9th of September 2022. The first portion of the 2022 exploration drilling program was focused on the Gate Zone of the project, with the company conducting infill drilling. The first portion of the drilling program also aimed to test adjacent targets which show similar mineralisation.

The drill-core samples obtained have been sent to ALS Canada Ltd. for analysis with the results released in batches. The company has to date however seen various wide intervals of significant mineralization at the south end of the Gate Zone, with Kodiak Copper Corp. also intercepting prospective, sulphide-bearing, porphyritic host rock adjacent to the zone in the north.

The company further announced that the 2022 exploration drilling program had transitioned to evaluating widespread additional targets for copper-gold mineralization across the rest of the MPD project. The company has also mobilised a drill rig in the Dillard area, which will follow up on high-grade drill targets identified through IP surveys.

The company on the 29th of September 2022 released assay results from its ongoing exploration drilling program. The highlights of the assay results included the extension of the gate zone by 50 m to a depth of 900 m. The company also intercepted 0.69% Cu, 0.46 g/t Au and 2.22 g/t Ag over 117 m within a wider mineralisation zone of 735.4 m at 0.24% Cu, 0.14 g/t Au and 0.71 g/t Ag.

The exploration drilling has also discovered a newly identified mineralisation zone adjacent to the Gate Zone of the project, the Prime Target. The Prime Target also serves as a testament to the efficiency of the company’s 3D IP surveys as a form of target identification.

Share price, market, buying opportunity and company future

Kodiak Copper Corp. is well funded and sits with approximately CAD$ 10 million in its treasury. The company is well-funded to pursue its planned 2023 planned drilling, in contrast to various of its peers which struggle in the downed market to raise the necessary funds for exploration drilling. Claudia Tornquist explains the financial position of the company as follows:

“I think it’s the general market. If you look at other junior mining companies, they are no different. Everybody really suffered over the summer. The market is terrible. But we are in a good situation. We are financed. That’s the most important thing in markets like that. We have CAD$ 10 million in the treasury. We financed in spring just before the markets took a turn for the worse. So, we are now financed and executing a big drill program, 25,000 m, and we are fully financed for it.”

Tornquist however notes that in a downed market, an investor is presented with the ideal opportunity to enter the market. As with all things, the downed market will not continue indefinitely and will also experience an upswing, she explains:

“It's just a cyclical market. That’s what commodities are. And there are times when a market is downbeat, investors are risk-off and just not investing, where arguably the best time is to invest because that’s where really you can find great opportunities. Companies where the share price is down, but that’s fundamentally a good business with good management, and that’s a real opportunity then. I would argue that at Kodiak at this time, we have a market cap that’s approximately 3 times the cash that we have in the treasury, and our share price is at levels that it was - almost levels before the discovery.”

Kodiak Copper Corp. will continue with its exploration initiatives in the future, with the company stating that it is in a pivotal time of its existence. The company aims to replicate the success it found with its Gate Zone through the identification of new porphyry centres at the project.

“Kodiak at this time is at a very pivotal, very exciting point in our exploration program as we are shifting our focus from the Gate Zone where we made the discovery to other targets with the aim to replicate the success that we had at Gate… Essentially what we are doing now is exactly the same as what we did at Gate. We are looking for the high-grade porphyry centre, the high-grade zone that is associated with the lower-grade mineralisation that we have already at targets like Dillard, Man, or in the southern part of our property, Axe. I think we have a very good chance to make 1 or several further discoveries, and that’s of course a very exciting time.”

The company will at a later stage investigate creating and publishing a mineral resource estimate, with Tornquist explaining that the ideal way to create value is to increase the overall project size through exploration.

“We believe the way we can create value for our shareholders at this time is to find another Gate, 1 or 2 or 3, and make the project really big - that’s I think what the potential is and what makes MPD really attractive, and that’s why at this time, we’re not working on a resource yet.”

The company also plans another 25,000 m exploration drilling program in the coming year.

“This year, we are already a long way through our project. A couple of weeks ago, we had an exploration update. At that time, we had 21,000 m, approximately of our planned 25,000 m. So, we are further down the road now, and by the end of the year, we’ll complete our 25,000 m and next year, a similar size program is planned.”

To find out more, go to the Kodiak Copper website