Kodiak Copper kicks off the year with strong news flow – Richard Mills

2026.02.26

Kodiak Copper (TSXV:KDK, OTCQX:KDKCF, Frankfurt:5DD1) has filed the technical report on SEDAR+ for the initial mineral resource estimate (MRE) at its MPD Copper-Gold Project, located in a long-established mining region in the Quesnel Trough of southern British Columbia.

The Vancouver-based junior reported on Jan. 23 that the large, open-pit copper-gold resource estimate (MRE) for MPD includes seven deposits in total — West, Adit, South, Gate, Ketchan, Man and Dillard — shows the scale and potential of MPD and lays the foundation for future resource growth and development.

The MRE is broken into two parts: the total Indicated mineral resource and the total Inferred mineral resource. 

The Indicated is 82.9 million tonnes grading 0.39% CuEq (copper-equivalent) for 519 million pounds of copper and 390,000 ounces of gold. 

The Inferred is 356.3 million tonnes grading 0.32% CuEq for 1.889 billion pounds of copper and 1.28 million ounces of gold. 

Between the Indicated and Inferred categories, the resource amounts to 2.408 billion pounds of copper and 1.67 million ounces of gold.

The MRE is defined using a cut-off grade of 0.2% CuEq.

All deposits at MPD remain open for expansion within and beyond the MRE pit shells, most in multiple directions and at depth. 

As the team moves the company forward, the most important aspect of the MPD story is the potential copper and gold upside on the known resource plus the very real potential upside from further exploration, not only on existing known mineralization but new discoveries as well.

While the company has identified multiple mineralization zones, it remains committing to continued exploration to further grow the project, both through zone expansion and the testing of new targets.

MPD Project: Kodiak Copper focusing on resource expansion in ’26 — Richard Mills

Upcoming catalysts for 2026 include:

• Metallurgical test results – Q1
• Soil results and drill targets – Q1
• Resource expansion drilling – Q2 onwards
• Exploration drilling, testing new targets – Q2 onwards
• Geophysical programs – Q2 onwards
• Resource update – Q1 2027
• Ongoing structural studies
• Continued environmental baseline studies
• Ongoing engagement with indigenous rightsholders and local stakeholders

On Feb. 24 Kodiak reported soil geochemical and prospecting results from its 2025 exploration program at MPD.

The program confirmed several historical high-grade targets, identified new targets and highlighted the potential to expand the MRE reported for the Ketchan deposit.

2,415 soil samples were collected in nine prospective areas. The program focused on historical targets, areas with prospective geology and VRIFY artificial intelligence areas of interest at MPD Northwest.  

Anomalous copper values up to 2,030 parts per million (ppm) and gold values up to 0.21 ppm were returned from the 2025 soil sampling.

The 2025 soil results highlight a number of areas for follow-up in 2026, particularly at Ketchan, where a well-defined copper-in-soil anomaly over 2 kilometers suggest this deposit may extend beyond the current 1.4-km strike defined by resource drilling.  

Anomalous soil results were also coincident with prospective geology at the Thor/Boss, Thalia, Zig, Par, Hook and Delta targets.

Prospecting in 2025 included 112 rock samples which confirmed historical showings and discovered a new copper-gold-silver target near the West deposit. 

The best grab sample assayed 11.4 % Cu, 23.8 g/t Au and 43.6 g/t Ag  from historical workings at the Tomcat area in MPD Northwest.

“The results from our 2025 regional program once again underscore the exceptional prospectivity of our MPD project,” said Kodiak’s President and CEO Claudia Tornquist. “The planning for this year’s exploration program is well underway, with a clear objective to significantly increase our recent maiden resource estimate by expanding several of the deposits. The soil results presented today impressively show the strong expansion potential of the Ketchan deposit. In addition, we are prioritizing numerous untested targets that may represent the next discovery and intend to drill several of them in the upcoming campaign. We are preparing for an extensive 2026 field program, with work planned to commence in the spring and continue through most of the year.”

News from the MD property coincides with a change in the boardroom at Kodiak Copper. The company on Feb. 19 announced the appointment of Tom Bruington to its board of directors, effective Feb. 25.

Bruington, a mining engineer, will replace Chad Ulansky, who has served on the board since 2016.

Bruington has worked in 67 countries over his 45-year mining career. He most recently served as executive vice president – project evaluation at Sandstorm Gold Royalties until its acquisition by Royal Gold. Bruington also worked at major porphyry copper mines while with Southern Copper, and helped develop the Ernest Henry copper mine in Queensland, Australia. His expertise spans geology, mining, mineral resource estimation, mineral processing and economic evaluation.

“We are delighted to welcome Tom to Kodiak’s Board of Directors. His deep technical expertise and global copper porphyry experience will be invaluable as we advance our MPD copper-gold project through the next stages of development. Tom’s background aligns directly with Kodiak’s strategic priorities, and we look forward to benefiting from his insight and guidance,” Tornquist said in the news release.

Kodiak Copper also had news from its Mohave Copper Porphyry Project in Arizona. The company reported it has staked 82 claims adjacent to its 100%-owned Mohave copper-molybdenum-silver porphyry exploration project to increase the property to 210 claims or 16.8 km². Like Kodiak’s flagship MPD Project in southern British Columbia, Mohave is located in a mineral-producing region with excellent infrastructure, close to Freeport McMoran’s Bagdad copper mine in Mohave County, Arizona.

Exploration and limited drilling by previous operators indicate that there is a large system of porphyry-style Cu-Mo-Ag mineralization present at Mohave.

Historical drill results include 0.49% Cu over 59.4m, 0.3% Cu over 70.7m and 0.35% Cu over 41.2m.

“Mohave is a promising and underexplored project with the potential to host a large-scale copper porphyry system, located in a region with producing mines and excellent infrastructure,” Tornquist stated in the Feb. 10 news release. With strong market appetite for U.S. critical minerals projects, the timing is right to crystallize the value of this non-core asset. Staking this additional ground is an important step to unlock Mohave’s potential to the benefit of Kodiak’s shareholders.”

Conclusion

Reading between the lines — “the timing is right to crystallize the value of this non-core asset” — could, imo, mean that Kodiak is looking at selling Mohave. A joint venture or sale could help advance the flagship MPD Project and save the company some dilution.

The United States recently made copper a critical mineral and so the timing is good in that respect.

But KDK’s focus remains firmly on MPD. The project has a maiden resource and with plenty of exploration and drilling planned, resource expansion is the goal for 2026.

The company has respected retail by keeping its share count low. Compared to other companies at this stage, Kodiak Copper has kept share dilution to an absolute minimum. 

KDK has only issued 95.1 million shares, with a market capitalization of just $102.1 million. A lower number of outstanding shares fully diluted (osfd) means a higher buyout price.

Kodiak Copper had a phenomenal 2025, releasing its initial resource estimate and growing its share price by 169% over the last year.

The management team is to be congratulated for running an extremely successful project so far. But now, the most important aspect of the MPD story is the potential copper and gold upside on known resource’s plus the potential upside from further exploration, not only on existing mineralization but new discoveries as well.

For example, the Feb. 24 news release is titled, “Regional Exploration Highlights Potential for Resource Expansion and Identifies Targets at MPD Copper-Gold Project”.

The 2025 soil results highlight a number of areas for follow-up in 2026, particularly at Ketchan, where a well-defined copper-in-soil anomaly over 2 kilometers suggests this deposit may extend beyond the current 1.4-km strike defined by resource drilling.  

CEO Tornquist says they are preparing for an extensive 2026 field program beginning this spring. Southern BC has had a mild winter, so the project could see an earlier than usual start. More work increases the potential for more news flow and the chance for more discoveries.

Kodiak Copper
TSXV:KDK, OTCQB:KDKCF, Frankfurt:5DD1
Cdn$1.07 2026.02.25
Shares Outstanding 95.1m
Market Cap Cdn$102.1m
KDK website

Richard (Rick) Mills
aheadoftheherd.com

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Richard does not own shares of Kodiak Copper (TSXV:KDK).
KDK is a paid advertiser on his site aheadoftheherd.com This article is issued on behalf of KDK