has agreed to acquire a 13.1km² claim package from Eagle Plains Resources, expanding its landholdings in the MPD project in southern British Columbia to 357km².
The newly acquired claims are located next to the MPD Northwest area and include the Ketch claim block, which is north of the significant Ketchan deposit.
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Kodiak has also started a 2,000-sample soil geochemical programme on MPD Northwest targeting historical showings, VRIFY AI targets and the Ketchan area, with completion expected in November 2025.
The Ketchan deposit, drilled over an area of 1,800m x 500m, is a key component of the initial mineral resource estimate for MPD.
The geophysical trend associated with the Ketchan deposit extends onto the newly acquired claims, indicating the potential for further mineralisation along this trend.
Kodiak president and CEO Claudia Tornquist said: “Kodiak’s strategy to consolidate the MPD district over the past seven years has been key in generating the critical mass to bring this project to fruition and demonstrate that it has the potential to become a major mine in the future.
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By GlobalData“The acquisition of the Ketch claim package is a logical next step, and I am glad we were able to secure these strategically located claims, which could potentially host an extension of our Ketchan deposit. I am looking forward to the results of the current soil programme, which focuses on advancing several promising targets on the prospective MPD Northwest area.”
Under the property purchase agreement, Kodiak will acquire the claim package for 300,000 shares and a 2% net smelter return royalty, with the option to buy back 1% for $1.75m (C$2.46m). The agreement is subject to the approval by the TSX-Venture Exchange.
Kodiak said the newly acquired claims will enable it to expand operations in other prospective areas at MPD Northwest, which features 24 known mineral occurrences, including six with significant porphyry-related copper-gold mineralisation.
Kodiak is known for its focus on copper porphyry projects in Canada and the US, with the MPD project being its most advanced asset.
The initial resource estimate for the first four mineralised zones, expected in 2025, has already underscored the project’s potential.
With further drilling results to be included in the full initial resource estimate by year-end, Kodiak is continuing its systematic exploration to uncover the full district-scale potential of MPD.
