Publicly traded Kodiak Copper (TSXV: KDK), a portfolio company of the Discovery Group that was formerly Dunnedin Ventures (TSXV: DVI), will focus on copper porphyry exploration in Canada and the United States.
The company's three projects are all wholly owned and include the Trapper and MPD copper-gold properties in B.C. and the Mohave copper-molybdenum-silver asset in Arizona, in addition to the Kahuna diamond project in Nunavut.
MPD, at 78.5 sq. km, is a project consolidated from three properties explored separately in the past, and lies within a mineral-producing belt. The company's first drill program at the property, completed last year, discovered the Gate zone with the discovery hole returning 764 metres of 0.28% copper-equivalent and including higher-grade sections, such as 102 metres of 0.68% copper-equivalent. There are additional geophysical and geochemical anomalies at the site.
Trapper and Mohave are both near operating mines or active exploration sites.
On April 1, the company will formally change its name to Kodiak Copper, which will be followed by a 5,000-metre drill program at MPD. Later this summer, the company also plans to complete some drilling at Mohave. In the near-term, it plans to consolidate its shares on a 5:1 basis.
Earlier this month, Dunnedin closed a $2.8-million private placement.
Other Discovery Group companies include Great Bear Resources, Fireweed Zinc and Bluestone Resources.