Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Kodiak Copper has reported assays for drillhole MPD-20-005, completed within its wholly owned MPD copper-gold porphyry project in B.C.’s Quesnel Trough. This hole, drilled within a 1-km long copper-in-soil anomaly overlying the Gate zone target, hit 192 metres of 0.74% copper, 0.48 g/t gold and 2.75 g/t silver (1.21% copper-equivalent) from 308 metres.
The interval above includes a higher-grade 45-metre interval of 1.18% copper, 1.01 g/t gold and 4 g/t silver (2.13% copper-equivalent) from 401 metres. The drillhole returned a total mineralized length of 515.8 metres of 0.41% copper, 0.22 g/t gold and 1.5 g/t silver (0.63% copper-equivalent) starting at 223.5 metres.
“Hole MPD-20-005 delivered another outstanding drill result from the newly discovered Gate Zone”
Claudia Tornquist, Kodiak president and CEO
The above intercept is the fifth hole reported from the soil anomaly – Kodiak has completed a total of 9 drillholes to date at this target, all of which intersected sulphide-bearing, altered porphyritic host rocks, which, according to the release, are “consistent with a well-developed alkalic porphyry system.”
To date, the drilling has tested up to 500 metres of potential width of the Gate zone, and 125 metres of the 1-km strike length of the copper-in-soil target.
“Hole MPD-20-005 delivered another outstanding drill result from the newly discovered Gate Zone. This hole expands the central high-grade zone previously announced in hole MPD-20-004,” Claudia Tornquist, Kodiak president and CEO, said in a release. “Importantly, we are also starting to see significant size to the larger mineralized envelope, first identified in the near-surface by shallow historic drilling and extended down to a depth of over 800 metres by Kodiak.”
Tornquist added that Kodiak has approximately $15 million on hand, to complete up to 30,000 metres of drilling. In addition, she highlighted that most of the major copper mines in the Quesnel Trough feature multiple porphyry centres – MPD includes additional historic copper showings, over an area of 10 sq. km. Kodiak also plans to test additional targets within the broader 78.5-sq.-km property next year.
(This article first appeared in the Canadian Mining Journal)
