As we start this new year, we look forward to building on the accomplishments of 2022, a year that saw Kodiak execute the biggest exploration program to date at our 100% owned MPD project located in southern
The 2022 exploration program began in March and included over 26,000 metres of drilling completed in 41 drill holes. The first phase of the drill program focused on further extending our already sizeable high-grade copper porphyry
In the later part of the 2022 drill program the Company expanded its efforts to targets in the Dillard area which is characterized by very large surface anomalies and promising results from previous drilling. To date assay results for only nine drill holes from the 2022 drill program have been released, with the remaining results from Gate/Prime as well as Dillard expected over the coming months.
As in previous years, Kodiak also undertook a systematic regional exploration program at MPD that included sizeable geophysical and geochemical surveys to identify and refine new targets and prospective areas. This work resulted in the discovery of the
MPD has all the hallmarks of a district-scale, multi-centered porphyry system with several previously drilled targets with similar signatures to the
The Company was able to execute a large exploration program in 2022 after raising
Kodiak regards excellence in environmental, social and governance (ESG) as a fundamental pillar to being a successful and responsible resource company. It is a key aspect of our strategy to manage risks, build a sustainable business and create value for shareholders. Solid environmental programs have been an integral part of our exploration work from an early stage, and we actively reach out to the local Indigenous communities to build relationships based on mutual trust and open dialogue. We are currently working on carbon reduction as part of our ESG programs and will be able to update our shareholders on this initiative as the year progresses.
In the past year the Company executed its succession planning as
Copper prices reached an all time high in the spring of 2022, followed by geopolitical uncertainty, inflation and supply chain issues that translated into pricing weakness and volatility in the second half of the year. However, long-term fundamentals of the copper market remain exceptionally strong, with the transition to green energy, a true global mega-trend, stimulating copper demand for many years to come. And yet this strong demand will be met by very limited supply as copper discoveries have been few and far between over the past decade. There couldn't be a better time for a compelling copper porphyry project like MPD. Add to that a world-class team, strong partners, a solid treasury and a tight capital structure, and you have all the pieces in place to generate exceptional returns for Kodiak's shareholders in 2023 and beyond. We invite you to join us on the journey ahead.
Contact:
VP
Corporate Development
E: ncurry@kodiakcoppercorp.com
T: +1 (604) 646-8362
About
Kodiak is focused on its 100% owned copper porphyry projects in
Kodiak's founder and Chairman is
Neither
Forward-Looking Statement (Safe Harbor Statement)
This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words 'anticipate', 'plan', 'continue', 'expect', 'estimate', 'objective', 'may', 'will', 'project', 'should', 'predict', 'potential' and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the Company's exploration plans. Although the Company believes that the expectations and assumptions on which the forward looking statements are based are reasonable, undue reliance should not be placed on the forward looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with conditions in the equity financing markets, and assumptions and risks regarding receipt of regulatory and shareholder approvals.
Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward looking statements, whether as a result of new information, future events or results or otherwise.
(C) 2023 Electronic News Publishing, source