MPD
MPD Copper-Gold Porphyry Project
- 14,716 hectare (147 km2) land package in South-Central British Columbia, Canada; 100% owned
- Porphyry project consolidated from four properties (Man, Prime, Dillard, Axe); never explored as single project with modern methods
- In a known, productive copper-gold porphyry belt; nearby mines with similar host rocks (Highland Valley, Copper Mountain, Mt. Milligan, New Afton)
- Adjacent to highway with year-round access by service roads
Project Summary
- Historic drilling: 393 drill holes (50,357 m) completed since the 60's by previous operators. Copper and gold drill-confirmed across a large area. Mineralization from surface, historic drill holes rarely tested below 200m vertical depth
- Discovery of Gate Zone in Kodiak’s 2019 maiden drill program
- 2020 drill program: transformative discovery of high-grade copper-gold zone within wider mineralized envelope of significant size at Gate Zone, highest grades in 50-year history of property
- Best intercept of 535m of 0.49% copper and 0.29 g/t gold (0.76% CuEq**), including 282 m of 0.70% copper and 0.49 g/t gold (1.16% CuEq**), including 45.7 m of 1.41% copper and 1.46 g/t gold (2.75% CuEq**)
- Mineralization traced to date to 800m depth, across a with of 350m (east-west) and over 100m in length (north-south)
- Up to 30,000m of drilling planned in 2021, will further test 1000 m long copper-in-soil soil anomaly at the Gate Zone of which only 125 m have been drilled so far. Analogous target areas at Dillard and Dillard East zones with strong potential for similar mineralization
The MPD Project is located in the Quesnel Trough, British Columbia’s primary copper-producing belt that hosts Teck Resource’s world-class Highland Valley Mine, Imperial Metals’ Mount Polley Mine, and Centerra Gold’s Mount Milligan Mine (see Table 1). The MPD project’s Nicola Belt geology has many similar characteristics to the neighbouring alkalic porphyry systems at the Copper Mountain Mine to the south and New Gold’s New Afton Mine to the north.
Table 1: Proven and Probable Reserves – Selected Quesnel Trough Copper Porphyry Mines
| Property | Date | Operator | Tonnes | Copper Grade | Gold Grade | Silver Grade |
|---|---|---|---|---|---|---|
| (as at) | (millions) | (% Cu) | (gram per tonne) | (gram per tonne) | ||
| Mount Milligan1 | Dec-19 | Centerra Gold | 191 | 0.23 | 0.39 | – |
| Copper Mountain2 | Jan-20 | Copper Mountain | 413 | 0.24 | 0.11 | 0.76 |
| Mt. Polley3 | Sep-19 | Imperial Metals | 54 | 0.34 | 0.3 | 0.9 |
| Highland Valley4 | Dec-19 | Teck Resources | 484 | 0.31 | – | – |
Sources:
- https://www.centerragold.com/operations/mount-milligan/production-and-reserves
- https://www.cumtn.com/operations/copper-mountain-mine/overview/
- https://imperialmetals.com/assets/docs/ops/reserve-resource-summary.pdf
- https://www.teck.com/investors/reserves-&-resources/
Jeff Ward, P.Geo, and VP Exploration of the Company is a “Qualified Person” as defined under NI 43-101 has reviewed and approved the technical content of this web page.
* Metal prices used to calculate Cu Equivalent (% CuEq) are: Au $1800/oz, Ag $19/oz & Cu $2.90/lb
** Metal prices used to calculate Cu Equivalent (% CuEq) are: Au $1500/oz, Ag $16/oz and Cu $2.60/lb. All values report in USD and do not consider metal recoveries Copper equivalent grades (%CuEq) are for comparative purposes only.
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