Portee's Observations..
posted on
Aug 01, 2008 04:39PM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
There is so much info in this news release,any one piece of news is an indicator of tremendous wealth to come from this company..
I will try to sort out some of the good stuff and lay it out in such a way as it can be read easily/..
I ask you to read each piece and then stop and think.....is this a good thing..???
At the end you will realize that we have the bull by the horns,and it is no time to let go and be gored,but to hold on for dear life to those shares for the ride of our lives..
OK...Lets go..
it has already increased the dimensions of the Golden Mile mineralized zone by more than 600%
multiple new discoveries at the Hercules project. This has dramatically enhanced the resource potential of the entire area.
Kodiak plans to increase the number of drill rigs on site from five to eight and to increase the size of its work force, which already stands at well over 100 personnel in the field.
A note here*****
The Kodiak Arms Hotel has a restaurant that seats 40...
With 100 people working the site I would say that they will be people working shift around the clock..
Kodiak has completed over 27,000 metres of drilling in over 100 holes at the Hercules Project, with gold bearing mineralization intersected in virtually every hole.
Note*** Holes #78 to hole#180 show gold in all but nine holes(These nine holes are not reported on in the report so are missing from the data in the NR..Could be yet to come..)
the program continues to be successful in extending the strike and depth extents of several gold zones, it has now intersected significant gold mineralization deep in the Golden Mile and Lucky Strike and on multiple other structures, including the WLGZ, Seven of Nine and Marino gold zones.
Drilling in the eastern portion of the Golden Mile has discovered a very large body of gold mineralization that is open at depth and is currently being drilled to define its full extent
A new high grade zone has been discovered to depths of almost 350 metres in the Golden Mile; highlights from this zone include 16.98 gpt gold (0.495 opt) over 1.3 metres including 63.67 gpt gold (1.857 opt) over 0.3 metres in drill hole HR08-171
This high grade zone has the same northwesterly rake as the central Golden Mile high grade zone and remains open at depth. In fill drilling continues to intercept high grades as well with 9.3 metres grading 14.78 gpt gold (0.431 opt) including 3.3 metres grading 32.22 gpt gold (0.940 opt) in HR08-161,
Drilling on the blind Lucky Strike structure, located parallel to the Golden Mile, has discovered a broad zone of gold mineralization totaling up to 41 metres wide (HR08-137, 1.2 gpt gold (0.035 opt)), indicating the strong potential for shallow, bulk-minable gold mineralization at Hercules.
NOTE***
What they mean here is this is a viable open pit mine possibility ..More drilling to confirm tonage and yeilds will be done here..
The Lucky Strike and Golden Mile structures appear to converge at depth, a common control to high grade mineralization, defining an excellent deep target; deep drilling is ongoing and will test this target in the near future..
NOTE...Think of these two areas as compared to a wisdom tooth with two roots on it...
If you put the tooth down in front of you and imagined one root to be the Lucky Strike Zone and the other root to be the Golden mile zone when you drilled and mined down both roots you will get to the pot of gold where the big part of the tooth is..and that is the best analagy I can come up with..
You may not be familiar with mining but teeth...eveyone has or had them..
Early prospecting 3,000 metres northwest of the Golden Mile has discovered a large system of strongly mineralized quartz veining that is on strike with the Golden Mile . This potential extension could more than double the strike length of the Golden Mile to over five kilometres. Assays from recent sampling are pending and advanced follow up exploration is underway.
Note..
On Strike means ..in line with..
On the WLGZ Gold Zone, drill hole HR08-145 has intercepted 3.3 metres grading 22.26 gpt gold (0.649 opt) including 0.8 metres grading 90.00 gpt gold (2.625 opt) further defining the geometry of this gold mineralized area, additional drilling is planned to define the full extent of this significant zone.
Drilling on the parallel Seven of Nine vein system, immediately adjacent to previously announced high grade gold mineralization found in the Marino vein system (HR07-16; 1.6 metres grading 38.47 gpt gold (1.122 opt)), has intercepted significant gold mineralization including 12.85 gpt gold (0.375 opt) over a width of 1.1 metres including 0.3 metres grading 53.24 gpt gold (1.553 opt; HR08-113). These systems remain open, drilling on the Marino and Seven of Nine veins continues.
Initial drilling on the Yellow Brick Road vein intersected broad mineralized structures at a depth of 250 metres over a width of approximately 10 metres. This system remains open, assays are pending.
Note***Slow down..take a breath and read this carefully..They are telling us about new targets parallel to or in line with existing known targets..
Carry on..
Exploration adjacent to the Golden Mile has also accelerated at Hercules. Individual samples from a parallel vein lying between the Golden Mile and the Marino vein system contains up to 37.1 gpt gold (1.082 opt; channel GM-15), outlining an important new target area that is to be followed up with advanced exploration
Two kilometres northwest of the Marino and Seven of Nine vein systems, a broad new zone of gold mineralized quartz veined structure has been identified that appears be the on strike continuation of those vein systems; additional prospecting and stripping are planned.
Stripping, sampling and drilling has also begun southwest of the Golden Mile, exploring multiple parallel geophysically indicated structures in an area where historic sampling produced grab samples with up to 46.22 gpt gold (1.348 opt) (Ontario Assessment Report 42E13SE0109 by Douglas Binkley, 1992, p. 19). Drilling in this area has commenced, intersecting several broad altered structures and quartz veining corresponding to the interpreted linear magnetic features, verifying the geophysical interpretation. Assays are pending.
In addition, mineralized quartz vein float has been found across the lake and on strike approximately 500 metres northwest of the central Golden Mile This lake currently marks the most northwesterly limit of the drilling to date on the Golden Mile. Drilling on this newly discovered extension is planned to commence in the immediate future.
The exploration program will continue to test over 30 km of indicated parallel structures and simultaneously expand the scale and geometry of the extensive Golden Mile vein system and several other confirmed parallel gold bearing veins thus expanding the resource potential of the entire Elmhirst Lake intrusion.
Note..
ALL these targets are what we know as Hercules.....NOw lets see what they are doing outside Hercules....
New Discoveries in the Beardmore-Geraldton Camp - Beyond Hercules
prospecting, stripping, sampling and drilling have begun at nine of the more than thirty stand alone gold targets identified by our Regional Exploration team outside the Elmhirst Intrusion, but within the more than 1,400 square kilometres controlled by Kodiak.
NOTE...THIRTY MORE TARGETS>>
Solomon's Pillar project have identified a strong zone of gold mineralization that extends at least 500 metres along strike that remains open. Channel sampling highlights at Solomon's Pillar include channel SPX-19 which cuts 5.5 metres grading 12.82 gpt gold (0.374 opt) including 0.9 metres grading 25.1 gpt gold (0.732 opt).
A 3,000 metre drilling program has commenced; the first drill holes have intercepted 20 to 30 metre thick zones of intensely mineralized banded iron formation and sheared clastic rock; assays are pending.
NOTE..
THis is where the 20-30 meters of Banded iron are ..a good gold bearing structure..not to mention the price of good iron ore..
At the GMO project, located in the western portion of the Beardmore-Geraldton gold district , a series of new gold bearing quartz veins have been discovered containing visible gold with grab samples grading up to 41.5 gpt gold (1.22 opt gold). These veins are approximately 2000 metres west of and along strike with the high grade Northern Empire mine (approximately 150,000 ounces of historic gold production). This new vein system has a strike length of at least 350 metres and widths of up to 2 metres and remains open. Drilling i s in progress to test its economic potential.
West Geraldton-Kenogamsis project located just west of the town of Geraldton, the newly discovered Goldstrike and Drexel zones have been stripped over a strike length of over 300 metres and remain open. Between 1934-36, an historic drill hole (Hole 2) by Lafayette Long Lac GML cut the Goldstrike zone and intercepted 2.04 metres grading 327.79 gpt gold (9.56 opt); Kodiak plans to verify this historic intercept and test other targets by diamond drilling soon.
Note...***HOLY CRAP...!!!
9.5 OZ per ton..$9000.00US for a lousy ton of rock...
A second zone of strong mineralization located 500 metres west of the Goldstrike zone has also been discovered. These structures are characterized by quartz veining with arsenopyrite over broad widths where historic grab samples have graded up to 129.5 gpt gold (3.777 opt). Additional stripping and channel sampling is ongoing; drilling has commenced.
Early grass-roots reconnaissance has identified strong gold mineralization at the
Maki,
Sturgeon Bridge,
East Leitch,
Bearskin,
Klotz Lake,
Blackwater,
Kaby Lake
and the Brenbar project where recently channel grabs returned assays up to 40.7 gpt gold. Additional advanced exploration, including stripping, mapping and sampling are underway.
NOTE**
I Layed out the last lot in a vertical rather than a horizontal format...Easier to absorb..
There is a tremendous amount of info here and hopefully I have highlighted some of the NR in a format,although is long is what we have been waiting for and when the analists and the big boys break it all down ,this will take off....don't think we haven't got a bull by the horns..We have..
This is as big as Hemlo,Red Lake and Timmins put together...believe me..