The Knucklethumb property encompasses 4,176, 100% controlled, contiguous hectares along the Onaman-Tashota Greenstone Belt, within the Archean Superior Province of Ontario. The property is road accessible and located approximately 210 kilometres northeast of Thunder Bay, Ontario.
Kodiak completed the compilation of all historical geophysical data on the Knucklethumb Lake property in 2004 and subsequently carried out an initial exploration program which proved encouraging. The program resulted in the identification of 20 new high priority induced polarization (IP) targets, 27 secondary IP targets and three HLEM targets. A re-evaluation of prior geophysical data generated prospecting targets that led to uncovering four additional new gold showings: the Kodiak, Thor, Colby and MB showings as well as extending the potential strike length of previously identified targets. The 2004 exploration program also led to the Company's most interesting target area, the Vent. Based on the 2004 program's positive results, Kodiak commenced a two phase exploration program in January 2005 which included trenching and drilling.
The Company completed the first phase of its 2005 program in mid-May, having drilled 33 diamond drill holes for a total of 4415 metres. Twenty-two holes were drilled in the Vent area and adjacent IP anomalies. The remaining 11 drill holes tested the Ryne, MVP, Thor and Kodiak gold/base metal showings and another IP anomaly two to six kilometres east of the Vent.
The second phase of exploration commenced in mid-June and was completed in mid-October. The program included mechanical stripping and channel sampling in the Vent, Aidan and Dyer Lake (Leiber Zone) areas, prospecting of freshly logged areas and detailed geological and structural mapping.
In addition, a Titan 24 deep IP survey was conducted by Quantec Geosciences Limited in the Vent area to determine the depth extent of sulphide mineralization in the vicinity of the surface gold-silver mineralization. This survey identified large areas of fairly high induced polarization response, coupled with moderately low resistivity below the Vent Gold Zone and on adjacent lines. This anomaly could be caused by a broad 'cloud' of disseminated sulphide or clusters of several zones of disseminated sulphides and alteration. Quantec recommended drill testing of these anomalies, the upper surfaces of which lie at depths of between 75 and 290 m, and which had never been drilled.
The 2005 summer program was also successful in extending the strike of the Vent Gold Zone. Mapping of the volcanic rocks indicates that the Vent Gold Zone may represent the upper level of an epithermal mineral system. Therefore, stronger mineralization may occur at depth and to the north, possibly related to the contact between the Vent's felsic volcanic rocks and mafic rocks immediately to the north. The locations of the Titan chargeability anomalies are consistent with this interpretation, and these targets were drilled during early 2006.
Vent Area
The Vent area is centred on the Metcalfe North Option property and adjacent mining claims owned by Kodiak to the south.
It has a large extent of sulphide mineralization and intense hydrothermal alteration. Gold-silver mineralization was discovered in this area during Kodiak's 2004 exploration program and the broad alteration system within this area has been identified as one of the largest known alteration systems in Northwestern Ontario measuring approximately 3.0 kilometres long and 400 - 700 metres wide.
The alteration zone is characterized by widespread and intense sodium-depletion and pyritization within a quartz porphyry intrusion. An area of gold-silver mineralization was discovered in 2004 containing grades of 2.68 grams per tonne gold over a channel length of 0.62 metres, 1.01 grams per tonne gold over a channel length of 1.66 metres, and 107 grams per tonne silver and 0.59% copper over a channel length of 0.44 metres. The gold-silver mineralization strikes north-south for 210 metres, ranges up to 15 metres wide and averages 7 metres in width. This gold-silver mineralization occurs within moderately to strongly disseminated sulphides in intensely sericite-silica-altered quartz porphyry. A total of 714 samples were collected from the Vent Gold Zone area. The median gold value was 39 ppb Au (0.039 grams per tonne gold). Approximately 3% of the samples exceeded 1.0 grams per tonne gold.
An induced polarization (IP) survey identified several broad resistive areas containing a series of chargeability anomalies within an area measuring approximately 2.0 kilometres long by 0.5 kilometres wide, trending north-northeast. Examination of the stripped outcrop demonstrated that high resistivity corresponds to areas of silicification and that chargeability anomalies result from disseminated to semi-massive sulphides. The pyrite-rich zones occur as a series of stacked chargeability anomalies with strike lengths ranging from 200 to 600 metres, and oriented in a north-east direction within the alteration zone. Multi-element soil geochemical anomalies are associated with some of the chargeability anomalies.
Kodiak conducted a program of in-fill IP and magnetometer surveying in January 2005 to further define the orientation of the chargeability zones and the extent of some of the IP anomalies that remained open in preparation for a spring drill program. That drill program tested several prospective gold and polymetallic targets in diverse geological environments (news release May 30, 2005). While the gold assays were below expectations, the geochemical association is very similar to that previously obtained from surface channel sampling in the main Vent Gold Zone some 1700 m to the northeast, and confirmed the large extent of the alteration zone.
Because the IP survey and drill program tested the alteration system only to a shallow depth, and because the alteration zone is over 2 km long, it was inferred that the system should also have a significant depth extent. Kodiak therefore commissioned Quantec Geosciences Limited to conduct a "Titan 24" deep IP-Resistivity-Magnetotelluric survey to explore the third dimension of the alteration zone below the main mineralized zone in July of 2005. The survey identified the Vent Gold Zone as a shallow feature having strong chargeability and moderate resistivity. Larger areas of moderate chargeability and moderate resistivity were identified below the Vent Gold Zone and on adjacent lines.
Quantec recommended the drilling of these anomalies, the upper surfaces of which lie at depths of between 75 and 290 m. Preliminary geological interpretations suggest that the volcanic rocks face to the south, and that the Vent Gold Zone may represent the upper level of an epithermal mineral system. Therefore, stronger, more gold-rich mineralization may occur at depth and to the north, possibly related to the contact between the Vent's felsic volcanic rocks and mafic rocks immediately to the north. The locations of the Titan chargeability anomalies are consistent with this interpretation, and presented obvious drill targets.
In early 2006, a total of 1611 metres of diamond drilling was completed in 7 drill holes, to test the Titan 24 IP-resistivity targets. No significant assay results were obtained.
Other Areas
In January 2006 ten claims registered to Kodiak in the west and south-western parts of the Knucklethumb Property were allowed to lapse. Two other option properties were returned to their Vendors during 2006 - Hull Lake and Hendrickson Lake properties. Both lie in the central part of the Knucklethumb property. Kodiak had performed detailed geochemical and geophysical surveys in 2004 followed by diamond drilling in 2005 without encouragement. Mechanical stripping was completed during July 2005 on Kodiak's Leiber Zone, located 3-4 kilometres southwest of the Vent. Channel sampling, soil sampling and geological mapping were also performed. No significant results were obtained from this work, and the claims were allowed to lapse.
The 2006 exploration programs at the Knucklethumb project were completed in May 2006. Kodiak conducted a VTEM survey over the Vent and Aidan areas followed by a series of exploratory drill holes in both areas. The winter drill program returned no significant assay results. However, the Company intends to maintain its interest in the Vent area and review the data in contemplation of further work.
During 2006, three holes totalling 297 m were completed at the Aidan copper-nickel prospect and at a proximal VTEM anomaly on the Cameco Onaman Option returned no significant results. No VTEM anomaly coincides with the Aidan-Snake showings, and the nearby VTEM anomaly is explained by a narrow interval of barren pyrrhotite in a metasedimentary rock unrelated to the gabbro-hosted copper-nickel showings. Kodiak's consulting geologists have recommended no further work on the Cameco portion of the Knucklethumb property, and the Cameco Option has been relinquished.
In January 2007, Kodiak secured its 100% interest in the previously optioned Wobbegong Property, which is prospective for VMS-style copper-zinc deposits. Geochemical and electromagnetic anomalies outlined in 2004 remain to be tested, and a field program to follow-up on these targets is being planned.
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Figure 2 - Generalized Compilation Map
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Aeromagnetic Map Showing
Location of Vent Area
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Vent Area
Lithogeochemical Survey - Gold
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Quartz sericite alterstion
at vent 1.0 g/t gold 77 g/t silver
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Hammerhead zone
silicified-pyritic crackle hydrothermal breccia
7.17 g/t gold, 20.9 g/t silver, 1.70 metres including 11.88 g/t gold, 25 g/t silver over 1 metre
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Vent Area Compilation Map
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Compilation Map
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