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MASSIVE SULPHIDE EXPLORATION – Kodiak likes Caribou Lake

NORTHWEST TERRITORIES - Vancouver-based KODIAK EXPLORATION is encouraged by early results of its VTEM airborne geop...


NORTHWEST TERRITORIES – Vancouver-based KODIAK EXPLORATION is encouraged by early results of its VTEM airborne geophysical survey on its Caribou Lake prospect, 90 km southeast of Yellowknife.

The survey is only 15% complete, but Kodiak says the results to date confirm the presence of several massive sulphide bodies along a trend of strong conductivity with a strike length of over 4 km in the southern part of the gabbro. The massive sulphide bodies measure up to 550 metres long. They are associated with a mineralized layer in the gabbro containing magmatic net-textured and semi-massive copper-nickel sulphides up to 70 metres thick from which grab samples of up to 0.97% Cu, 0.62% Ni, 198 ppb Pt and 94 ppb Pd have been obtained. This mineralized layer has been traced for more than 9 km on surface and remains open to the northeast. It also remains open at depth. These are high-priority targets for the company’s winter drilling program.

The balance of the VTEM survey will cover the entire strike extent of the mineralized layer as well as all of the Caribou Lake Gabbro and surrounding areas that measure 12 km in a north-south direction and 8 km east-west.

The VTEM survey has also detected anomalies indicating the presence of massive sulphides 3 km along strike to the northeast of the southern trend described above. Kodiak’s prospectors discovered seven mineralized showings this year by blast pitting along a 9 km strike. Grab samples taken from those pits returned values up to 19.7% Cu and 0.62% Ni, 0.07% Co, 266 ppb Au, 198 ppb Pt and 94 ppb Pd in the gabbro layer. Niccolite veins cross-cutting the mineralized layer produced grab samples containing up to 38% Ni and up to 3.8% Co.

One pit blasted in the southern zone near the base of the mineralized layer exposed semi-massive sulphides, but did not reach the base of the sulphide layer, which remains open at depth. Grab samples from this pit returned values of up to 0.97% Cu and 0.62% Ni. The location of this discovery coincides with a large massive sulphide anomaly measuring 550 metres long that offers several high-priority drill targets.

The company will post further results on its website at www.KodiakExp.com.

(Editor’s note: These results remind us of early reports from Voisey’s Bay in Newfoundland.)


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