When selecting "Hercules Fact Sheet" in Hercules section you get this
posted on
Jan 22, 2008 03:40PM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
They seem to ignore Caribou a little and place added enphasis on their Uranium property. Could there be some good news coming out of the sample essays soon?
http://www.kodiakexp.com/pdf/infosheet.pdf
Hercules Gold Prospect – Drilling Commenced
Hercules is an exciting new shear-hosted gold discovery in Beardmore-Geraldton gold camp (4.1 million ounces high grade gold production) in Ontario, Canada, which is a proven gold camp that remains under-explored. It has numerous geological similarities to multi-million ounce Red Lake and Kirkland Lake gold districts, where gold is mined to depths below 1.5 km. Deposits of this type produce two thirds of Canada’s gold, approximately 200 million ounces to date. The Hercules property has great access and infrastructure. With 100% control of more than 95,000 acres, Kodiak now has the dominant land position in this gold camp. Trenching has newly exposed more than 5 km of gold-mineralized quartz veins that remain open in all directions, and gold-bearing veins are concentrated along two massive, parallel gold-bearing structures one kilometre apart: the Golden Mile, and the Yellow Brick Road. Given the scale and geometry of the vein systems discovered to date, Kodiak believes the Hercules project has strong potential to host a major new gold resource. 90% of the exposed strike length at Hercules remains untested, and the system remains open in all directions, and Kodiak is ramping up exploration to explore the Hercules structures along strike and to depth
The Golden Mile is more than 2 km long and remains open. 100% of the holes drilled to date have intersected gold mineralization, and 41% of grab samples collected along the Golden Mile have assayed more than 10 g/t Au. Continuous gold mineralization has been traced along strike for 365 m, with an average grade of 20.20 g/t Au over an average width of 3.8 m. This remains open along strike and to depth. Channel highlights within this interval include AMX-01: 3.1 m grading 119.63 g/t Au, and 11.6 m grading 32.96 g/t Au; AMX-04: 9.55 m grading 27.04 g/t Au; AMX-07: 4.8 m grading 28.64 g/t Au. Drill holes HR07-09 and HR07-10 drilled successively deeper below channel AMX-01 intersected 0.8 m grading 20.55 g/t Au and 4.0 m grading 6.89 g/t Au respectively, showing the gold mineralization is continuous from surface to a depth of at least 40 m and remains open. Yellow Brick Road drill highlights in the WL gold zone include Hole HR06-03: 15.59 g/t Au over a true width of 9.7 metres, including 51.65 g/t Au over 2.83 m; HR06-02: 10.37 g/t Au over 8.8 m; HR06-05: 10.15 g/t Au over 5.4 m; HR07-04: 5.8 g/t Au over 2.6 m and 62.89 g/t Au over 0.4 m. In the Marino zone, Kodiak’s shallow drill hole HR07-16 intersected 38.47 g/t Au over 1.6 m, and gold mineralization remains open to depth.
Uranium Properties – Exploration Commenced
Kodiak has diversified its portfolio to uranium through the staking of mineral claims covering 105,906 acres in the Otish Basin area of Quebec, located approximately 9 km from a winter road. The Otish Basin area of Quebec is well known for its uranium mineralization, and has been gaining interest ever since Cameco and Strateco started extensive exploration in the area. Strateco’s Matoush property in the Otish Basin had an intersection of 2.13% U3O8 over 15.2 m, including 3.20% U3O8 over 8.4 m. The Otish basin is a highly prospective area, and has a geological setting similar to the Athabasca Basin in Saskatchewan, which accounts for 1/3 of the world’s uranium production and 15% of global reserves. The uranium mineralization found in the Matoush structure of the Otish Basin lies well above the rim of the basin and is similar to the ‘perched bodies’ found above the McArthur River and Cigar Lake uranium deposits of the Athabasca Basin.
Kodiak’s UR and 308 prospects cover high-grade radioactive float, areas of anomalous geochemistry, and uranium-bearing veins. A fault in Archean bedrock is believed to be the source of a boulder train measuring approximately 3 km by 2 km with more than 100 angular boulders on the UR property, six of which assayed from 1.13% to 3.50% U. The first data received from an aerial survey has identified a very large radioactive anomaly up-ice from the boulder train on the UR property. The intense radiometric anomaly recorded by the airborne survey measures 2 km by 6 km in area and is believed to be the source of the boulder train. Targets on the 308 West and 308 East properties include both deep unconformity sources in the bedrock, and classic unconformity-style uranium mineralization in the overlying sediments. The Mat I claim block lies on the rim of the basin, adjoining the northern edge of Strateco’s claims. The Mat II block is located between the Strateco and Cameco claims to the south. The Mat III block is located directly to the west of Strateco’s Matoush discovery. The RIM 1, 2, and 3 properties are located along the east rim of the Basin, and an historic uranium showing and several anomalies are contained within the claim boundaries.
Caribou Lake Ni-Cu-Co-PGE Prospect – Drilling Completed
Kodiak Exploration Limited has completed its Phase II drill program at our 100% controlled, 83,459 acre Caribou Lake Cu-Ni-Co-PGE property. The Caribou Lake property has deep water access to the Mackenzie highway and a transcontinental railhead. Through Phase I drilling we were able to demonstrate that the upper part of the Caribou Lake layered mafic intrusion contains abundant primary nickel sulphides. Nickel-Copper sulphides were found in 33 of 50 drill holes, with intersections in two holes of 53.5 m grading 0.28% Ni-Cu combined in Hole 16, and 69.71 m grading 0.21% Ni-Cu in Hole 39. The 2007 drill program at Caribou Lake has concluded with very encouraging results, with some significant intersections of sulphides containing Ni and Cu. Drill holes CL07-05 and CL07-14 both intercepted significant sulphide mineralization and confirm the continuity of sulphide mineralization between the drill holes. Drill hole assays results from this program grade up to 0.31% Cu and 0.22% Ni over 1.11 metres from hole CL07-05 (previously announced). Additional drill highlights include hole CL07-03 which intersected 587 metres of 1 to 10% sulphides with anomalous Ni and Cu. These results continue to demonstrate that a large Ni and Cu bearing sulphide system is present in the Caribou Lake mafic complex which has the potential to host a significant Ni and Cu ore body. Geologic and drill hole data is being compiled and interpreted in preparation for the next phase of exploration at Caribou.
Corporate Information
Kodiak’s corporate philosophy is to build shareholder wealth by evaluating and acquiring undervalued prospects followed by efficient and aggressive exploration resulting in discovery. Our market capitalization is approximately $117 million and we currently have 73,449,281 shares issued and outstanding. Kodiak has seasoned management and strong institutional support, and is well financed with no debt. These factors, along with its well diversified property portfolio, make Kodiak a leader in Canadian resource exploration. Please visit our updated website at www.kodiakexp.com to find presentations, photos, video footage, maps and other geological information relating to Kodiak’s properties. Kodiak Exploration Limited trades on the TSX Venture Exchange under the symbol KXL.