Kodiak Copper Corp. (KDK) Earnings Call Transcript

Hi, I'm Chris Thompson for InvestorIntel. And today, I'm talking with Claudia Tornquist from -- who's the President and CEO of Kodiak Copper. Symbol is KDK, on the TSX Venture Exchange. How are you today, Claudia?

I'm very well. It's great to be here. Thanks for having me, Chris.

Great. So you put out some news release earlier this month about some really good geophysical work at your project in BC. And for investors, who want to have a look at the pictures, it shows a pretty clear images of some really interesting new target zones in and around your existing zones that you've been drilling with great success. Maybe you can just talk about that news release from earlier this month.

Yes. We put out the results from a deep IP survey we did last autumn, and we were very pleased with the results. They really help with our targeting for this year's drilling. Essentially, the responses, the geophysical responses very much correlate with what we see in our drilling, i.e., where we drill high grades, we see a high conductivity and where the high conductivity zone stops, the high-grade stop. So very, very powerful. And that, of course, now tells us where to drill next. We see where these high conductivity and chargeability actually zones extend, and that's where we go next with our drilling in and around the Gate Zone to further drill and extend the gate zone. And then the most exciting outcome or results from the -- from this new data, geophysical data is that we see an analogue response, parallel response just a couple of hundred meters away, very large, similar in size to the Gate Zone, essentially a look-alike of the Gate Zone, and we weren't aware of that before. And that, of course, is our new and very exciting, very high priority drill target for this year.

Now the Gate Zone last year for investors, you want to look back, you released something in December. It was a very long, well, it was like 500 meters of almost 0.9% copper equivalent. So that must be very exciting to see a zone like that. And as well as last year, you did about over 30 holes and over more than 20,000 meters of drilling at your project in BC. What are the plans for this year with regards to drilling?

We have another large drill program planned. Last year, we drilled just under 22,000 meters. This year, we're aiming for 25,000, even more. And we'll drill further at the Gate Zone. And then importantly, we'll also start testing other targets. The new target that I just referred to that has come out of our geophysical data and also the other historically drilled porphyry centers that have only shallow historic drilling and have never been tested deeper, and we'll take the model that brought success at Gate and essentially replicate it at these other historically drilled targets, like Dillard, Man, Prime, Axe.

So Claudia, what do you find when you drill deeper? Are you finding a higher grade?

Well, at MPD in the Gate Zone, what we see so far is lower-grade mineralization near surface. And the best grades we have drilled are between 300 to 500 meters in depth in the drilling we have done so far. And -- that's where we are. We obviously drilled a lot more. The Zone is still open in many directions, and we'll see what else we can come up with.