Kodiak Exploration (TSX-V:KXL) reported positive developments at the Hercules project, which sits within the Beardmore-Geraldton gold belt in Ontario, Canada.
Exploration efforts at the project have continued to confirm the prospectivity of the region, with the company reported high grade gold at three target areas; Brenbar, GK and Castlewood Lake.
All three areas are part of the wider Hercules Project were recent infill drilling on the Lucky Strike vein system returned 13.4 grams per tonne gold over 2.6 meters from 46.8 meters in drill hole HR10-452.
At Brenbar, Kodiak’s geologist confirmed high grade gold (up to 163 grams per tonne gold in channel C6496) from rock grab and channel sampling in the 15 Vein. Trenching and road clearing on the northern portion of the Brenbar claim group has also been completed, and Kodiak reported grab and channel samples up to 16.2 grams per tonne from the 8 Vein. The junior gold explorer additionally confirmed that drilling has commenced at Brenbar targeting both high grade vein gold mineralization and thicker zones of lower grade rock that envelope the high grade structures.
At the GK target, the company has completed 28 kilometres of dipole-dipole IP and ground magnetic surveys, which has identified what Kodiak believe may be an extension to sulfide rich gold mineralization cut in drill hole GK10-49 ( 24.9 metres grading 9.31 grams per tonne gold including 8.1 metres grading 27.8 grams per tonne gold). Kodiak intends to test this theory with a 2000 metre diamond drill campaign “shortly”.
Additionally, at Castlewood Lake Kodiak has finished a 10 hole, 2,975 meter diamond drill campaign. Assays results are pending, but previous grab and channel samples returned up to 37.6 grams per tonne gold.
And finally, the Ontario focused exploration company has completed mapping and sampling at the Shields property, which is immediately east of Premier Gold Mines (TSX:PG) Hardrock Project. The exploration program has generated five targets: Ferraro, Stinger, Gladiator, Maximus and Titan. A shallow drill program is underway.