Kodiak Exploration Limited is pleased to report that as it approaches the mid-point of its 2008 exploration program, it has already increased the dimensions of the Golden Mile mineralized zone by more than 600% and made multiple new discoveries at the Hercules project. This has dramatically enhanced the resource potential of the entire area. In addition, Kodiak has also had excellent initial exploration results on several other stand alone regional targets it generated.
These targets, spread across more than 200 kilometres of Kodiak’s land holdings, are simultaneously being explored outside the Hercules project area. As a result, Kodiak plans to increase the number of drill rigs on site from five to eight and to increase the size of its work force, which already stands at well over 100 personnel in the field.
During 2008, Kodiak has completed over 27,000 metres of drilling in over 100 holes at the Hercules Project, with gold bearing mineralization intersected in virtually every hole. In addition the program continues to be successful in extending the strike and depth extents of several gold zones, it has now intersected significant gold mineralization deep in the Golden Mile and Lucky Strike and on multiple other structures, including the WLGZ, Seven of Nine and Marino gold zones. Assay results received from holes drilled to date are set out in the table at the end of this news release.
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