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Kodiak Exploration Limited equity price took a slight leap up to $4.43 this Tuesday on higher than average volume.
Kodiak Exploration Limited announced on Tuesday, January 8, 2008 that it has discovered a significant new zone of nickel-copper mineralization at its new Sleeping Giant discovery. The Sleeping Giant has direct all weather road access and is located on Kodiak's 100% controlled claims in the Geraldton/Beardmore camp. Drill hole HR07-01 intersected a significant zone of nickel-copper sulphides: 27.1 metres grading 0.49% Ni and 0.24% Cu (50.2-77.3m), including 5.3 metres grading 1.51% Ni and 0.44% Cu (71.7-77.0m). These intercepts include encouraging precious metal mineralization of 0.5m grading 1.40 g/t Au, 0.85 g/t Pt and 0.17 g/t Pd (50.2-50.7m), and 1.2m grading 0.15 g/t Pt and 0.10 g/t Pd (71.7-72.9m). The significant width and grade of mineralization at the Sleeping Giant, combined with large geophysical anomalies, suggest it is part of a much larger base metal system.
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