Alle Storys
Folgen
Keine Story von Kodiak Exploration Limited mehr verpassen.

Kodiak Exploration Limited

Kodiak Reports Assay Results From First Hole at Caribou Lake, Drilling Continues to Intersect Additional Massive Sulphides

Vancouver, Canada (ots/PRNewswire)

Kodiak Exploration Limited
(the "Company") (TSX: KXL.V) is pleased to  report that the first
three exploratory holes drilled at the first of 83 VTEM  targets at
its Caribou Lake property have all confirmed the presence of
strongly disseminated to massive sulphides.
The Company's 100% owned Caribou Lake property is located 90
kilometres  southeast of Yellowknife, Northwest Territories, and is
considered  prospective for copper-nickel-PGE mineralization. There
are a total of 83  VTEM targets along the 9km copper - nickel
mineralized trend and  surrounding area, including Target 1 referred
to above.
Diamond drill hole CL-06-01, the Company's first drill hole,
returned  an intersection of 1.41 metres grading 1.11% copper, 0.90%
nickel and 0.12%  cobalt at a downhole depth of 23.37 to 24.78
metres. That intersection lies  within a 3.18 metre interval grading
on average 0.7% copper, 0.53% nickel  and 0.07% cobalt. The entire
5.4 metre mineralized interval grades on  average 0.5% copper, 0.36%
nickel and 0.05% cobalt at a downhole depth  between 21.60 metres and
27.00 metres.
Drill hole CL-06-03 intersected 4.25 metres of disseminated to
massive  sulphide mineralization consisting of pyrrhotite and
chalcopyrite between  33.5 and 37.75 metres downhole. Assays are
pending.
Drill hole CL-06-04 intersected 37.19 metres of disseminated,
blebby  and net textured sulphide mineralization that remains open.
The  mineralization contains pyrrhotite and trace chalcopyrite from
the collar  at 2.74 to      39.93 metres downhole. Assays are
pending. The collar set- up of hole CL-06-02 was unfortunately
mislocated at the wrong GPS  coordinates. Consequently the hole,
which was drilled towards the east,  started immediately above and
overshot the steeply west-dipping sulphide  target. Hole CL-06-04
mentioned above was collared at the originally  planned drill site
for hole CL-06-02 and intersected sulphide  mineralization. As a
result since hole CL-06-04 collared in sulphide  mineralization,
Kodiak plans to drill a hole by stepping back further in  order to
test the base of the mineralized layer where the highest potential
for massive sulphide concentrations exists.
The three shallow exploratory holes drilled to date have tested
only  the near surface parts of Target 1, which is a large VTEM
indicated  sulphide body located near the southern end of the 12
kilometre long gabbro  intrusion. This response is near a large
feeder dike - a favourable  geological setting for the accumulation
of sulphide minerals.
Kodiak has determined to expand its planned drill program from 16
to 32  holes to test the economic potential of ten large VTEM
indicated sulphide  sources, with a collective strike length of more
than 3 kilometres. VTEM  Targets 1, 2, 3, 4, 5, 9, 10 and 12 are
associated with a 9 kilometre long  copper-nickel mineralized
horizon. The mineralization is exposed across an  outcrop width of
266 metres in the area of Target No. 1.
Cross-cutting niccolite infill fractures are associated with VTEM
indicated sulphides on Targets 1, 4 and 7. These niccolite fractures
are  believed to represent hydrothermally remobilized 'bleeders' from
underlying  sulphide sources. One sample has been collected from each
of these infill  fractures. The three selected grab samples returned
assays of 23.5%, 38.0%  and 17.3% nickel, respectively.
Drilling is also planned to test VTEM indicated sulphides on
Targets 13  and 14. Target 13 is located 700 metres from the footwall
of the  northwestern portion of the Caribou Lake Gabbro. This
location is  suggestive of an 'offset' style of mineralization like
that identified in  other copper-nickel-rich mafic intrusions such as
Sudbury. Target 14 is  located in the southeastern portion of the
gabbro and associated with a  fault zone extending 14 kilometres ENE
from the feeder dike. This fault is  parallel to the shore of Great
Slave Lake which has been interpreted as a  continental rift and may
represent a conduit for the Caribou Lake Gabbro  and Blachford Lake
Intrusive Complex.
Several strings of secondary, strong, VTEM- indicated sulphide
targets  have been identified along 9 kilometres of the intrusion's
western footwall  contact. These may represent basal or 'offset'
accumulations of copper-PGE  rich sulphides, similar to those
inferred for VTEM 13. Other strings of  VTEM anomalies occur along
strike between the main sulphide-indicated VTEM  Targets, and in the
vicinity of Anomaly 14 located 3 km to the east. In tota , 72
secondary strong VTEM-indicated sulphide targets have been
identified.  Prospecting and blasting of two shallow VTEM targets has
verified the  presence of chalcopyrite at one location and pyrrhotite
at the other.  Kodiak plans to prospect all of these anomalies, and
follow-up with ground  geophysical surveys and diamond drilling as
appropriate.
Core is split and one half is dispatched for assay of copper,
nickel  and platinum group elements at Acme Analytical Laboratories
Ltd. in  Vancouver. Gold and platinum group elements are determined
by lead- collection fire assay fusion for total digestion, finished
with ICP-MS;  copper, nickel and other metals are assayed using a hot
four-acid total  digestion with ICP-ES finish. Assay results will be
released as they become  available. Photographs of the drill core can
be viewed on Kodiak's updated  website (www.kodiakexp.com).
The exploration program at the company's Ontario Knucklethumb Lake
project is ongoing. Kodiak has completed a VTEM survey and ten
exploratory  drill holes. These diamond drill holes have returned no
significant assay  results to date, with final assays from the
principal deep target, the Vent  Gold Zone, still pending. Three
holes completed at the Aidan copper-nickel  prospect and at a
proximal VTEM anomaly on the Cameco Onaman Option  returned no
significant results. No VTEM anomaly coincides with the Aidan- Snake
showings, and the nearby VTEM anomaly is explained by a narrow
interval of barren pyrrhotite in a metasedimentary rock unrelated to
the  gabbro-hosted copper-nickel showings. Kodiak's consulting
geologists  recommend no further work on the Cameco portion of the
Knucklethumb  property and that the Cameco Option be relinquished.
The information contained in this news release has been reviewed
and  approved by Gary Vivian, P. Geo., and Louis Covello, P. Geo.,
who are the  qualified persons for the Caribou Lake project under the
definitions  established by National Instrument 43-101. Mr. Vivian is
an independent  Professional Geoscientist, and Principal of Aurora
Geosciences Limited of  Yellowknife, NWT, which is operating the
program on behalf of Kodiak.        Mr. Covello is an independent
Consultant to Aurora Geosciences Limited.
The Qualified Person for the Knucklethumb Lake Project under the
definitions of National Instrument 43-101 is Christopher Marmont,
M.Sc.,      P. Geo., who has reviewed and approved the information
contained in this  news release.
Kodiak is a mineral exploration company with properties located in
Canada. Maps, photographs, geological details and additional
information  may be reviewed on its website at www.kodiakexp.com.
On behalf of the Board of Directors
                         KODIAK EXPLORATION LIMITED
                  William S. Chornobay, Director, President
This release has been prepared by management - TSX Venture
Exchange has  not reviewed and does not accept responsibility for the
adequacy or  accuracy of this news release. This document contains
certain forward  looking statements which involve known and unknown
risks, delays, and  uncertainties not under the Company's control
which may cause actual  results, performance or achievements of the
Company to be materially  different from the results, performance or
expectation implied by these  forward looking statements.

Contact:

For further information: +1-(604)-688-9006 or by email at
info@kodiakexp.com

Weitere Storys: Kodiak Exploration Limited
Weitere Storys: Kodiak Exploration Limited
  • 02.03.2006 – 18:24

    Kodiak's First Drill Hole Cuts Massive Sulphides at Caribou Lake

    Vancouver, Canada (ots/PRNewswire) - Kodiak Exploration Limited (the "Company") (TSX: KXL.V) is very pleased to report preliminary results from the first drill hole on its Caribou Lake copper-nickel-PGE property located 90 kilometres southeast of Yellowknife, Northwest Territories. The hole intersected 3.25 metres of strongly disseminated to massive sulphide mineralization containing visible chalcopyrite, pyrrhotite ...

  • 02.02.2006 – 15:50

    Kodiak VTEM Indicates More Sulphide Bodies, Claim Block Expanded

    Vancouver, Canada (ots/PRNewswire) - Kodiak Exploration Limited (the "Company") (KXL.V) is pleased to announce the completion of the VTEM airborne geophysical survey over its 100% controlled Caribou Lake copper-nickel-PGE property near Yellowknife, NWT. The survey completed over 2000 line kilometers and has indicated new sulphide bodies not previously reported (news ...