Times star article
posted on
Oct 03, 2008 01:05PM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
Here is the part about Kodiak.
Vice President/Exploration, was going to make a presentation to the Sage/Kodiak parties. Everyone
migrated toward the "jewelry box" of the Golden Mile and descended into the shallow trench. A little
way to the south a North Star Drilling rig groaned away.
It was a day that held a lot of promise, in more ways than one. On this warm autumn day, the
sunlight bathed the wide quartz vein that snakes through a shear zone in the host rock, the Elmhirst Lake
Intrusion. Brian Maher got down to business, spreading generously sized charts on the gold-bearing
vein and speaking to the graphics contained therein.
Since late summer of 2006, Kodiak had been making spectacular gold discoveries on its
Hercules Property. The Golden Mile Zone had been stripped almost continuously for about 3
kilometres, trending northwest. This season diamond drills had been sinking deep holes in a continuing
effort to define an ore body, a substantial mineral resource that would justify a mine.
In the first two seasons, Kodiak stripped a parallel line of zones to the east, running from the
Wilkinson Lake Zone in the southeast to the Marino Zone in the northwest, This season it has been
stripping and drilling a parallel zone to the west. This past summer, said Chornaby (President), Kodiak
had 135 people employed in the field.
Maher (VP) stated that Kodiak was sending about a thousand core samples a day to the lab for
"fire assay". Any result yielding 3 grams per metric tonne (g/t) or better had been sent back for a more
rigorous "metallic assay". Drills had intersected values as deep as 575 metres. Major mining
companies have expressed interest, but, Maher said, negotiations were confidential. Holding up his
hands, Maher remarked: "We have almost two handfuls [of documents] signed."
In the course of the presentation, Chornaby said, "Our neighbours [Sage Gold] are on strike with
a significant discovery." He was referring to the Golden Extension Showing about 5 kilometres across