Shear numbers reveal project potential.

• Author: Stewart, Nick
• Position: NEWS

Two previously undiscovered mineralized gold zones have been revealed at the Wilkinson Lake Gold Beardmore-Geraldton area properties.

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"Early results from this project are really, really encouraging," says William Chornobay, president and CEO of Vancouver based-Kodiak Exploration Ltd.

"We're very optimistic about what we're seeing out there. It's delivered some pretty good results early on."

The Penelton and Yellow Brick Road zones, located 100 kilometres northwest of Hemlo, represent a significant development for the company. The two zones are connected to the Wilkinson Lake Gold (WLG) zone in a 1.2-kilometre northwesterly system within a 400-metre-wide shear.

The company has spent $400,000 to date on exploration and development on the Hercules site stripping the area of overburden.

Up to 80 per cent of Canada's gold production is discovered in shear-hosted gold reserves, Chornobay says. The substantially-sized shear represents a real boon for Kodiak.

"It appears that we've exposed a small part of a very large system, and being that it's that large is what has us most excited," he says. "Hopefully the gold values we see can be repeated along strike, and hopefully the drill holes will give us further encouragement."

Located 200 metres west of its WLG zone, the Penelton zone assayed a gold-bearing quartz vein reaching up to five metres thick. Grab samples across this newly discovered vein have turned up results ranging from 0.12 grams to 37.07 grams (g/t) of gold per tonne, with an average of 7.91 g/t of gold over 9.5 metres.

The Yellow Brick Road zone is a steeply dipping gold-bearing zone with grab samples containing 5.85 g/t of gold. A channel sample evidenced 2.60 g/t of gold and 60.72 g/t of silver over 1.51 metres.

As a whole, the zone has been exposed over a strike length of 250 metres, and is up to 3.50 metres wide on surface.

These discoveries complement Chornobay's optimism regarding phase one drill results from the known WLG zone, which were...