TODAY'S DISCOVERY, TOMORROW'S FUTURE

Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.

Free
Message: Milestone Assays Pending...

Milestone Assays Pending...

posted on Apr 19, 2010 12:54PM

So...

It has now been 18 days (12 business days) since last Milestone results where we read about "mineralized shear zone"s and "visible gold" in pending assays... I have read on many other boards that standard reporting time for lab assays is 7-10 days... now at 12 business days since last release and they likely submitted other cores before that NR date... So... Where are remaining Milestone results?... Why the delay?...

I really hope they would not go to such lengths to include such descriptors of pending holes without a good sense that they will impress... If they did include these and the results do not impress... Brutal.

Oh yeah... Uranium results have been pending for even longer... Even worth talking about them anymore? Won't even bother to mention how many bullish comments I read here about those results... Where are they?

red911

Kodiak drills 55 m of 0.61 g/t Au at Milestone

2010-03-31 14:18 NT - News Release

Mr. Brian Maher reports

KODIAK CONTINUES TO INTERCEPT WIDESPREAD GOLD MINERALIZATION AT MILESTONE

Exploration drilling at Kodiak Exploration Ltd.'s Milestone project at the eastern end of the Beardmore-Geraldton gold belt continues to intercept significant widths of potentially bulk-minable gold mineralization. Partial results for drill hole MS10-12, a follow-up drill hole completed downdip from previously announced drill hole MS10-06 (37.2 metres of 0.54 gram per tonne gold) has returned 55.0 metres of 0.61 gram per tonne gold in the Pag shear zone, including 26.1 metres of 1.18 grams per tonne gold where the Pag North and Pag South structures are interpreted to intersect (please see attached table). Drill hole MS10-12 shows higher grade and greater width than overlying drill hole MS10-06 and also demonstrates the depth potential of the Milestone gold system.

                         DRILL RESULTS

Drill hole From (m) To (m) Length (m) Au (g/t)   Notes

MS10-10     109.7   124.2     14.5      0.41           
            221.0   225.0     4.0       0.46           
            305.0   310.7     5.7       1.13 
          
MS10-11     213.1   233.6     20.5      0.44           
Including   223.1   227.8     4.7       0.94           
            291.8   295.8     4.0       1.12           
            337.7   347.1     9.4       0.31
           
MS10-12     161.0   216.0     55.0      0.61     Assays pending
Including   168.9   195.0     26.1      1.18 
          
MS10-13                                          Assays pending

MS10-14                                          VG, assays pending

Drill hole MS10-11, a 200-metre step-out west of previously reported drill hole MS10-09 (25.5 metres grading 0.24 gram per tonne gold) intercepted a cumulative downhole thickness of 24.5 metres of gold mineralization: 20.5 metres grading 0.45 gram per tonne gold and 4.0 metres grading 1.12 grams per tonne gold. Drill hole MS10-10, drilled a further 200 metres west of MS10-11, intercepted a total of 24.2 metres of gold mineralization in three zones: 14.5 metres grading 0.41 gram per tonne gold, 4.0 metres grading 0.46 gram per tonne gold and 5.7 metres grading 1.13 grams per tonne gold. Two additional drill holes completed to the west of drill holes 10 and 11 indicate that the mineralized shear zone is increasing in thickness -- drill hole MS10-13 cut over 175 metres of sheared Archean granitic rock 275 metres west of hole 10. Drill hole MS10-14 intercepted a 200-metre thickness of shear zone, including two zones containing visible gold, extending the gold mineralized zone an additional 200 metres to the west of hole 13. Collectively, these four drill holes extend the total strike length of the Milestone system an additional 875 metres. Assays for these drill holes are pending.

Kodiak's exploration program at Milestone has quickly achieved significant results. The entire Pag shear zone has a drill defined strike length of over 1,500 metres and has been intercepted to depths of over 200 metres. The size of the system continues to validate the exploration model of a potentially bulk-minable gold deposit. Gold mineralization is remarkably consistent, the shear zone exhibits classic Archean anastomosing characteristics, defining both broad lower-grade zones as well as narrower higher grade zones of gold mineralization. The Milestone system remains open along strike and at depth.

As a result of the success of the winter drill program, exploration drilling has been extended. To date, Kodiak has completed over 4,500 metres of diamond drilling at Milestone (11 drill holes). An additional 1,000 metres of drilling has been added to the program, focusing on the western and eastern extents of the system. Planning for systematic infill drilling has also begun.

Kodiak is also pleased to announce the acquisition by staking of 41 new claims west of Milestone on strike with current exploration drilling. The claims, totalling 520 units, increase Kodiak's landholdings on the Milestone area by over 83 square kilometres.

West Geraldton update

Assay results for 11 diamond drill holes (WG10-28 through -38) totalling 2,410 metres at West Geraldton have been received and highlights are posted in an attached table. These data have been integrated with earlier drill results and will be used to plan further exploration. The drill rig has been moved to the Hercules project where exploration of southern extensions to the vein systems continues.

     WEST GERALDTON DRILLING HIGHLIGHTS

Drill Hole   From (m) To (m) Width(m) Au (g/t)

WG10-28        147.6   147.8    0.2      3.68

WG10-30         15.2    18.3    3.1      2.18
Including       15.2    15.8    0.6      5.46
WG10-30        203.0   203.3    0.3      9.09

WG10-36         86.7    88.2    1.5      3.21
Including       87.7    88.2    0.5      8.20

The geological information for the Beardmore-Geraldton regional exploration project has been reviewed and approved by Darren Lindsay, Kodiak's vice-president, exploration, who is a qualified person under the definitions established by National Instrument 43-101.

Kodiak quality assurance/quality control procedures are as follows. Kodiak channel samples are five centimetres wide, cut perpendicular to the strike of the vein and/or shear zone from mapped alteration in the footwall continuously through the vein and/or shear zone and into mapped alteration in the hangingwall. Channels are cut with a motorized circular saw to a depth of 20 centimetres and removed with a hammer. Channel sample spacing is nominally every 20 metres along strike, dependent on outcrop size and geometry. 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 centre 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 Activation Laboratories Ltd., Ancaster, Ont., and Accurassay Laboratories Inc., Thunder Bay, Ont. Blank and standard samples are routinely submitted with all sample batches sent to the lab for assay. Screened metallic assays are routinely run on all anomalous gold results as a check on nugget effects. Samples are routinely sent to other labs for additional checks.

We seek Safe Harbor.

4
Apr 19, 2010 01:23PM
Share
New Message
Please login to post a reply