SOURCE: Kodiak Exploration Ltd.

November 28, 2005 13:40 ET

Kodiak Plans Winter Drilling

VANCOUVER, BC -- (MARKET WIRE) -- November 28, 2005 -- Kodiak Exploration Limited (TSX-V: KXL) is pleased to report that final preparation for a planned 1500 metre drill program on its 100% controlled, Ontario Knucklethumb project is underway.

The drilling will target a new, buried deposit scale chargeability zone measuring 700 metres east-west, 290 metres north-south and 460 metres deep, which remains open at depth. This zone was recently discovered by a Titan 24 Deep IP survey. The zone is located directly below the outcropping Vent Gold Zone and is believed to be associated with surface disseminated gold mineralization.

The Vent Gold Zone lies within a gold geochemical anomaly measuring 600 metres long and 350 metres wide, trending northeast and open to the northwest. The Vent Gold Zone itself is 210 metres long and is up to 15 metres wide, and contains channel cuts grading up to 11.88 grams per tonne gold and 25 grams per tonne silver over 1.0 metre. The best gold values are associated with areas of increased pyrite concentration.

In April 2005, a shallow drill hole intersected 33.1 metres of gold mineralization ranging from 0.1 to 2.7 grams per tonne gold, but only partially intersected a near surface IP anomaly located above the buried chargeability zone.

Kodiak has completed two exploration seasons of systematic geological, geochemical and geophysical surveys as well as exploratory diamond drilling on one of the largest known alteration systems in Northwest Ontario, measuring up to 3000 metres long and 700 metres wide. This work resulted in both a better understanding of the system and the discovery of the Vent Gold Zone and buried chargeability target located directly below it. Conventional IP surveys identified a chargeability anomaly that reflects near surface concentrations of disseminated pyrite with gold mineralization. The Titan Deep IP survey has revealed a much more extensive response below, and at depth to the north of, the Vent Gold Zone. This is interpreted as a zone of disseminated sulphides in which gold mineralization is believed to be contained.

The geology, mineralization and large area of alteration indicate that the Vent is a rare, and well preserved, example of an Archaean epithermal gold-silver system capable of hosting a multi-million ounce gold deposit.

Geological interpretations suggest that the Vent's rhyodacitic porphyritic volcanic rocks face to the south, and that the Vent Gold Zone represents the upper level of an epithermal mineral system. Stronger, more gold-rich mineralization should occur at depth and to the north where iron-rich mafic volcanic rocks contact the rhyodacite porphyry. The location of the Titan chargeability zone is consistent with this interpretation, and it is planned to drill test its economic potential in the near future.

Kodiak is also pleased to report that the previously announced VTEM airborne survey has commenced at its 100% owned Caribou Lake copper-nickel-PGE property near Yellowknife, Northwest Territories, in final preparation for drilling.

Kodiak is a well financed mineral exploration company with two properties located in Canada. The Knucklethumb property is located 210 kilometres northeast of Thunder Bay, Ontario, is 100 per cent controlled and road accessible. Maps, photographs, geological details and additional information may be reviewed on Kodiak's website at www.kodiakexp.com. The qualified person for this project, under the definitions established by National Instrument 43-101, is Christopher Marmont, MSC, PGeo.

This release has been prepared by management -- TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. This document contains certain forward-looking statements which involve known and unknown risks, delays, and uncertainties not under the corporations control which may cause actual results, performance or achievements of the corporation's to be materially different from the results, performance or expectation implied by these forward-looking statements.

Contact Information

  • On behalf of the board of Directors
    Kodiak Exploration Limited
    On behalf of the Board of Directors
    William S. Chornobay
    Director, President
    For further information contact:
    (604) 688-9006
    or by email at Email Contact