TODAY'S DISCOVERY, TOMORROW'S FUTURE
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
Message: interesting interview....
I found this on SH SGX or KXL board... I would give kudos to the original poster, but I can't find the original post again. So here it is.... interesting read
http://www.financialsense.com/transcriptions/2006/1202SanFran.html#Bremner
Trevor Bremner, P.Geo, Kodiak Exploration, Ltd. Kodiak Exploration, Ltd. (TSX-V:KXL) JIM: Continuing our story with exploration companies here at the San Francisco Resource show, joining me at this time is Trevor Bremner, he’s a consulting geologist with Kodiak Exploration. Trevor, tell us a little bit about your company, what you’re doing, where your projects are located, and we’ll take it from there. TREVOR BREMNER: Jim, we’ve got two projects in Canada we’re currently very excited about. Kodiak’s an exploration company. We’ve just about to undertake our second round of drilling on both properties. In fact, at the Hercules gold property in Ontario we’ve just started our second round of drilling, and we’re scheduled to start up at Caribou Lake in the Northwest Territories in January. At Hercules, we’re located midway between Timmons and Red Lake and the center of an area that has produced 200 million ounces of gold to date. The Beardmore-Johnson gold camp is underexplored and remains underexplored because it’s heavily covered by forest and glacial overburden, and we’ve had to dig through that in order to explore this property. We have 30,000 acres and on that 30,000 acres we have uncovered a shear zone that is currently 10 miles long by approximately 1500 feet wide. And along that shear zone we have exposed in trenches a really nice looking quartz vein, and stock work system almost continuously over a site length of ¾ mile. Our initial drill holes have given us a really spectacular intersections with some visible gold, and length of up to 55 feet grading 4.54 of an ounce gold. We’ve hit significant grades and thicknesses in 3 drill holes and a channel surface and channel samples between them across this very well developed vein system are giving us comparable results. So we’re basically on to a high grade mineralized chute. We’re currently testing at depth and we’re drilling step out holes along the site – it’s a very interesting system. These shear zones are big, we think this thing has huge upside potential, and we’re optimistic the second round of drilling is going to show people how significant a discovery this is. The project came about through Kodiak own in-house research and development. It’s an original project. There’s been some initial work done on small showings in the area but almost everything we’ve uncovered is new. The other project in the Northwest Territories is on the shore of Great Slave lake. Surprisingly, for an area in Northwest Territories it’s only 600 miles from the nearest smelter near Edmonton; and just across the lake from us there’s a railhead. So the infrastructure is all in place. We have a layered intrusion that’s at least 6 miles long and a couple of miles wide, and it basically extends under a granite cover – we don’t know how far to the East. We’ve drilled 50 shallow holes along this intrusion and we’ve established there the presence of a very, very large amount of disseminated sulfide – 33 of our first 50 drill holes have hit intersections of disseminated sulfide with, to give you an example, our longest intersection was 69 meters of disseminated sulfite grading about 0.2 to 0.3% copper and nickel combined. We’ve had grades of up to about 1% copper and 1% nickel in these surface rocks, but basically in order to get where we think the best accumulations of nickel, cobalt and copper are we’re going to have to drill the base of this thing. All of the nickel geologists have been telling us you’ve got to use magnetic imagining to find out where the base of this intrusion is and you’ve got to drill down to it. Walter Purderry [ph.] who’s managing this project for us was with Inco for 31 years, he was their chief research scientist and he’s worked in Thompson, Manitoba and he’s worked all around the Sudberry Basin, he’s worked in Northern Quebec – he says this intrusion is most unusual. He says he has never seen a layered intrusion with so much sulfide in the upper layers, so he’s very optimistic that at depth we’re going to find significant accumulation. And he’s identified Pentlandite in these surface rocks 15 out of 95 samples – and basically he’s pretty excited about this, as we are. We say the second round of drilling we’re going to be drilling depths of something like 300 to 700 meters – in that range we can see the large structural traps in the base of the intrusion where we think these sulfides have accumulated. At the bottom we have magnesium rich rock, we have good platinum numbers coming out of these sulfides as well as good grades of nickel and copper and cobalt. And really we think on our next round of drilling has some good chance of some spectacular intersections. [54:19] JIM: What’s the ultimate goal for the company? Where do you see yourselves one year, two years, three years from now? TREVOR: The company’s position is it’s going to do the best for its shareholders. We’re looking at Bema which is basically the Kinross takeover, it was not what Bema was looking for but they said well it was clearly in the best interests of the shareholders if they entertained positively the idea of a takeover. In Kodiak’s case I see the company has a growth strategy – at least the Chairman of the Board of Directors Mike Phelps took West Coast Energy from basically a small company to basically a super giant company and sold it out to Duke Energy. He’s got a good track record of company building and I think that would be his vision for Kodiak to be quite honest. But we’ll see, it depends on opportunities, it depends how things pan out. The company is still in the process it’s got its own R&D department, there’s a geologist working full time to develop new prospects and I really think right now there’s more of a growth strategy than anything else. [55:19] JIM: If you’re standing before a group of investors, give me 3 reasons why they should own your stock. TREVOR: First of all, the company’s corporate structure is very strong, we’ve got very strong institutional support – 85% of the shares are currently owned by institutions. To give you an example, the largest shareholder is the Richardson family, who are also the largest shareholders in the Royal Bank of Canada and they’ve supported the company from its inception 13 years ago. I think the second reason is that the management is very, very focused on discovery. Their single goal is really to discover a mine and get it into production – they see that as their first and foremost goal. And thirdly I think their projects have very sound technical merit like on both properties we’re seeing one line of evidence after the other that just line up telling us that everything we’ve found so far is consistent with these two exploration models. And both projects have huge upside potential. [56:19] JIM: As we close, why don’t you tell people your ticker symbol, the primary exchange on which your shares trade and your website. TREVOR: The stock symbol is KXL, and it’s on the Toronto Stock Exchange (TSX-V Venture Exchange), and the website is www.kodiakexp.com. JIM: Alright, Trevor Bremner, thank you for joining us on the Financial Sense Newshour. All the best.
TREVOR: Thank you very much, it’s been a real privilege talking to you.
mz
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