Kodiak Copper Corp. (KDK) Earnings Call Transcript

So numbers are numbers, and the geologists will tell me what it means. What I like is in your press release, you told us what it means. Drilling continues to demonstrate a strong correlation between the copper-in-soil anomalies and the underlying bedrock copper mineralization. I like that.

Yes. That's right. That's very much what we see. Where we have copper on the surface, we hit copper and drilling underneath, and that's obviously very, very important for targeting at the -- at our new targets -- at further targets where we are drilling now because until now, most of our drilling was at the Gate Zone where we made the initial discovery. But MPD, from all we can tell, what our data tells us is a multicentric porphyry center, just like Copper Mountain next door and many other porphyry mines. And it's really all about finding these other porphyry centers, and we have several historically drilled areas where we have already mineralization -- shallow mineralization, lower-grade mineralization from the historic work and to find the sources and the high-grade zones that go together with these lower-grade -- with this lower-grade mineralization that we have already. That's really what it's all about. And we have several really high-priority targets, Dillard, it's where we're drilling now. It's a very large target, 3x the size of Gate. And we then have Man. We have targets down in the southern part of the property at Axe, all previously drilled. And we will essentially replicate the approach that successfully led to the Gate Zone discovery at those targets as well. So it should be very exciting. We really have the potential to make one or several more discoveries on our property.

And you probably took copper-in-soil testing at those other targets in addition to the historical drills.

Yes, very much. So we have saw data already. We did more this year because we saw how helpful it was with our drill targeting, and that's one of the important tools we use for our drill targeting.

It's a very well-written press release. I often get -- I get pained by poorly written press releases. Whatever team of people wrote this did an extremely good job, including the respectful nod to Canadian First Nations for Truth and Reconciliation Day.

Thank you.

It is well done. So your team deserves that. So you got to carry out another 4,000 meters of drilling. Does the property have to shut down for the winter?

It doesn't have to. What we generally do is we drill the fastest in the summer when we have the best conditions and get the best productivity and then our spring and autumn, a little bit more -- a little slower pace. So we've just gone down from 2 to 1 drill. And typically, over the worst weather periods of December, January, February, we do all the other work. We do the cutting, the logging of the core, et cetera, but don't drill. Our VP of Operations called it making hay while the sun shines, i.e., we drill so we get the most bang for our buck.

Now that makes sense to me. Look, I appreciate the update. It's a well-written press release. Thank you for your time, and I'll be watching for the results from the next 4,000 meters.

Thank you.