Wedoany.com Report-Oct. 22, Kodiak Copper Corp. has agreed to acquire a 13.1km² claim package from Eagle Plains Resources, expanding its MPD project landholdings in southern British Columbia to 357km². The newly obtained claims are adjacent to the MPD Northwest area and include the Ketch claim block, located north of the significant Ketchan deposit.

The initial resource estimate for the first four mineralised zones, expected in 2025, has already underscored the project’s potential.

Alongside the acquisition, Kodiak has launched a 2,000-sample soil geochemical program at MPD Northwest. The survey targets historical mineral showings, VRIFY AI-identified targets, and the Ketchan area, with completion expected in November 2025. This initiative aims to refine exploration targets and identify new zones of potential mineralization across the broader district.

The Ketchan deposit, one of the key assets within the MPD project, has been drilled over an area of approximately 1,800 meters by 500 meters. The associated geophysical trend extends into the newly acquired claims, suggesting additional exploration potential along this mineralized corridor. Kodiak plans to integrate data from the ongoing geochemical program and future drilling results to enhance understanding of the deposit’s scale and continuity.

Kodiak president and CEO Claudia Tornquist said: “Kodiak’s strategy to consolidate the MPD district over the past seven years has been key in generating the critical mass to bring this project to fruition and demonstrate that it has the potential to become a major mine in the future. The acquisition of the Ketch claim package is a logical next step, and I am glad we were able to secure these strategically located claims, which could potentially host an extension of our Ketchan deposit. I am looking forward to the results of the current soil programme, which focuses on advancing several promising targets on the prospective MPD Northwest area.”

Under the terms of the property purchase agreement, Kodiak will acquire the new claims in exchange for 300,000 shares and a 2% net smelter return (NSR) royalty. The company retains the option to repurchase 1% of the NSR for US$1.75 million (C$2.46 million). The transaction remains subject to approval by the TSX-Venture Exchange.

Kodiak stated that the acquisition will enable it to expand exploration into additional prospective zones within the MPD Northwest region, which hosts 24 known mineral occurrences, including six with confirmed porphyry-related copper-gold mineralization. This expansion strengthens Kodiak’s position in one of Canada’s most promising copper districts.

The MPD project is Kodiak’s most advanced asset and forms a cornerstone of its portfolio of copper porphyry projects across Canada and the United States. An initial resource estimate for four mineralized zones is expected in 2025, supported by ongoing exploration and drilling programs. With further results to be incorporated by year-end, Kodiak aims to define the full district-scale potential of the MPD project and advance it toward future development.