VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 01/08/08 -- Kodiak
Exploration Limited (TSX VENTURE: KXL)(FRANKFURT: KX3) is pleased to announce that it has discovered a significant new zone of nickelcopper mineralization at its new Sleeping Giant discovery. The Sleeping Giant has direct all weather road access and is located on Kodiak's 100% controlled claims in the Geraldton/Beardmore camp.
Drill hole HR07-01 intersected a significant zone of nickel-copper sulphides: 27.1 metres grading 0.49% Ni and 0.24% Cu (50.2-77.3m), including 5.3 metres grading 1.51% Ni and 0.44% Cu (71.7-77.0m).
These intercepts include encouraging precious metal mineralization of
0.5m grading 1.40 g/t Au, 0.85 g/t Pt and 0.17 g/t Pd (50.2-50.7m),
and 1.2m grading 0.15 g/t Pt and 0.10 g/t Pd (71.7-72.9m). The
significant width and grade of mineralization at the Sleeping Giant,
combined with large geophysical anomalies, suggest it is part of a
much larger base metal system.
The Sleeping Giant zone extends for at least 200 metres along strike
and is open in all directions. The mineralized zone is associated
with series of geophysical anomallies that extend for a strike length
of at least three kilometres, indicating the system is much more
extensive. Mineralization occurs in a gabbro/gabbroic komatiite body
that hosts disseminated, semi-massive to massive sulphides consisting
of pyrrhotite, chalcopyrite, pyrite, and possibly chromite.
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From To Width (m) Cu (%) Ni (%) Cr2O3 (%) Co (%)
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50.2 50.7 0.5 0.97 1.31 0.052 0.04
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50.2 77.3 27.1 0.24 0.49 0.045 0.02
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Incl. 71.7 77.0 5.3 0.44 1.51 0.047 0.04
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Incl. 71.7 74.0 2.3 0.65 2.21 0.041 0.06
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Incl. 71.7 72.9 1.2 0.76 2.78 0.039 0.075
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The discovery of the Sleeping Giant is the result of surface
exploration program consisting of ground geophysics, compilation of
data from previous shallow drilling and follow-up reconnaissance
drilling. Recent assays have confirmed the significance of this Ni-Cu
zone that remains open both to depth and along strike. Kodiak plans
to perform approximately 65 km of line-cutting followed by ground
UTEM and magnetic surveys as well as bore-hole geophysics in order to
outline the full extent of conductors that would indicate sulphide
targets in preparation for additional drilling. The discovery of the
Sleeping Giant zone with ready access to infrastructure adds a
significant new asset to the company's base metal division. This fits
well with the company's strategy to aggressively grow three separate
divisions: precious metals, base metals, and uranium.
Kodiak expects to receive drill results from the Golden Mile in the
immediate future. When assays are received, the results will be
promptly released.
Kodiak QA/QC procedures are as follows: Sample intervals are selected
according to geologic contacts and visible mineralization, placed
into a sample bag, and shipped to the assay lab for quantitative
analysis of select elements. Kodiak drill cores are split down the
center with a typical table feed circular rock saw. Sample intervals
are selected according to geologic contacts, visible mineralization,
and alteration, placed into sample bags and shipped to the assay lab
where they are quantitatively analyzed for select elements. Drill
cores are boxed, covered, and sealed at the drill rig and moved to
the Kodiak logging and sample preparation facilities by Kodiak
personnel. Kodiak angle core holes are directed perpendicular to the
mapped dip of the vein therefore reported drill hole intercepts
approximate true thickness of the vein. All Kodiak samples are
currently being assayed by TSL Laboratories Inc., Saskatoon, SK S7K
6A4. Blank and standard samples are routinely submitted with all
sample batches sent to the lab for assay. Samples are routinely sent
to other labs for additional checks.
The information contained in this news release has been reviewed and
approved by Robert B. Hawkins, Kodiak's Chief Geologist, who is a
qualified person under the definitions established by National
Instrument 43-101.
Kodiak is a mineral exploration company with significant projects in
three different sectors of the mining resource industry. Through
regional, grass-roots generative exploration and new geological
models the Company has built a portfolio of 100% controlled projects
focused on gold, base metals (nickel/copper), and uranium in three
different areas of Canada. Maps, photographs, detailed geologic
reports and additional information may be viewed on our web site at
www.kodiakexp.com.
On behalf of the Board of Directors
KODIAK EXPLORATION LIMITED
William S. Chornobay, Director, President
The statements made in this release may contain forward-looking
statements or relate to programs that involve a number of risks and
uncertainties. Actual events or results could differ materially from
the Company's expectations and projections.
To view attached map please click on the following link:
http://www.ccnmatthews.com/docs/kxl0108.pdf
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