Mines Point

The Mines Point gold project is located within the Archean God's Lake - Sachigo Volcanic Belt located in north central Manitoba about 35 kilometres northeast of Oxford House (see map).  The property comprises 43,200 ha under mineral exploration License A393 covering a 40 km long trend of prospective Archean banded iron formation (BIF).  The BIF horizons occur within a complex structural/stratigraphic interface between the Lower Hayes River Volcanics and the Upper Oxford Sediments. Several significant gold resources have been discovered in the area in a similar geological setting: Monument Bay, Stull Lake and Oxford Lake. These deposits contain in excess of 1.5 million ozs. gold as defined by diamond drilling. These deposits and the Mines Point project geologically resemble the large multi-million ounce gold deposits at Lupin, NT, Musselwhite, Ontario and Casa Berardi, Quebec. BIF-hosted gold deposits are attractive to explorationist due to the consistency and continuity of ore grades and the lateral persistence of the host rock, generate large volume gold deposits.

Previous attempts to explore the area were hindered by the extensive but relatively thin veneer of glacial till that renders the area almost devoid of outcrop.  A 2001 high resolution airborne magnetic survey was flown over the area during a regional exploration program targeting kimberlites.  This survey outlined with great precision the extent and complex structural setting of the BIF horizons at Mines Point (see map).  The intricate folding seen in the magnetic data is an important indicator of the structural preparation these rocks have undergone. The airborne magnetic survey will help focus initial field activity and will be the principal guide fro drill target selection. Kodiak's exploration plans for the area may include an airborne EM survey to better define conductors which are closely associated with potential gold bearing zones and hence provide a better focus for drilling within this extensive land package.

Kodiak plans to carry out an initial reconnaissance drill program designed to test the most prominent gold targets define by the airborne magnetic survey.