Kodiak Copper Corp.[KDK-TSXV] stated work has actually been momentarily suspended at its 100%- owned MPD copper-gold porphyry job in southern British Columbia due to flooding and roadway closures.
The business stated the relocation follows an evacuation order for the town of Merritt as an outcome of flooding. Worker has actually been securely demobilized and there is no danger to the task facilities, the business stated.
Earlier this year, Kodiak reported the discovery of a considerable state-of-the-art copper-gold extension of the just recently found Gate Zone at the MPD task.
The business stated a considerable top-quality copper-gold discovery was made on a 75- metre action out, south of eviction Zone discovery which was initially drilled in late 2019 and revealed in January, 2020.
It stated the discovery is a higher-grade extension of eviction Zone that is most likely near a porphyry centre based upon mineralization and change strength.
A 282- metre area of highly mineralized and changed core from drill hole MPD-20-004(drilled to 785 metres and partly reported in an April, 2021 press release) was focused on and hurried through assay. It returned 0.70%copper, 0.49 g/t gold, and 2.64 g/t silver (1.16%copper equivalent) over 282 metres from 263 to 545 metres.
The MPD job covers a 97.3 square kilometre land bundle in south-central British Columbia and represents the debt consolidation of 3 residential or commercial properties (Man, Prime, Dillard) which had actually never ever been checked out as a single job with contemporary methods.
It lies in the Quesnel Trough, B.C.’s main copper-producing belt, the one that hosts Teck Resources Ltd.’s( TECK.B– TSX, TECK.A– TSX, TECK-NYSE) Highland Valley mine, Imperial Metals Corp.’s (III-TSX) Mount Polley mine, and Centerra Gold Inc.’s [CG-TSX, CAGDF-OTC] Mount Milligan mine.
Kodiak has stated the MPD job’s Nicola Belt geology has numerous comparable qualities to the neighbouring alkalic porphyry systems at the Copper Mountain mine to the south and New Gold Inc.’s( NGD– TSX, NYSE American) New Afton mine to the north.
MPD is surrounding to the highway and is normally available year-round through service roadways.
In a news release that was provided after the close of trading on November 17, 2021, Kodiak stated its 2021 drill program is considerably total. It stated 21,675 metres have actually been drilled. “Work will be resumed when the evacuation order is raised and it is safe to do so,” it stated.
” For 2022, a drill program of over 25,000 metres is prepared, and drilling will start in the very first quarter,” the business included.
On November 17, 2021, Kodiak shares closed at $1.24 and presently sell a 52- week series of $2.34 and $1.11