Kodiak Exploration Ltd. is pleased to report the resumption of exploration activities at its 100% controlled Hercules Project, located in the Beardmore-Geraldton gold district of Western Ontario. Trenching, geologic mapping, sampling and diamond drilling are planned for the next five months and will be focused on the Golden Mile vein system, seeking extensions to known gold mineralization, characterizing rock quality and evaluating possible locations and scenarios for bulk sampling.
Kodiak Exploration reported the assay results for the final ten drill holes of the winter, 2009 drilling campaign. All the drill holes intersected gold-mineralized quartz veining and shear zones; of particular interest is drill hole HR09-333, drilled at the eastern end of the Golden Mile, which cut 1.0 m grading 10.72 gpt gold (0.31 opt), including 0.7 m grading 14.80 gpt gold (0.43 opt). This drill hole was collared in the footwall of the Golden Mile vein system near previously announced drill hole HR07-29 (54.1 gpt (1.57 opt) gold over 2.0m, including 134.4 gpt (3.9 opt) gold over 0.8m) and extends high grade gold mineralization into a new, deeper part of the system. Also reported was the successful completion of a technical report. The report confirms the significance of the Golden Mile discovery and validates the methodology, QA-QC procedures and the technical merits of the work done to date at Hercules. The report is an important milestone as the Hercules project moves along the development time line, providing third party documentation of progress to date. The recommendations made by InnovExplo will be utilized to guide future drilling and prepare the project for a formal resource estimate.
Results of metallurgical testing performed on three composite surface and drill hole bulk samples from the Golden Mile vein system were reported. These test results show an average gold recovery of greater than 99% from the three +10 kg samples. The test work was preformed by SGS Lakefield Research Ltd., Lakefield, Ontario. In the Conclusions and Recommendations prepared by Lakefield, they state “The cyanidation of gravity
tails yielded an excellent response with greater than 99% of the gold being recovered/extracted in the gravity + cyanidation flow sheet”. Lakefield further states “Process mineralogy should be considered for further characterization of gold occurrence”.
Advanced or Above
