Kodiak discovers high grade gold veins at Hercules

Kodiak Exploration has discovered multiple high grade gold veins at its Hercules Project in Canada.

The "large, previously unknown and well mineralized quartz vein system" runs parallel to the Wilkinson Lake vein system for around two kilometers, and includes bonanza gold grades.

Grab and channel samples have returned values of up to 102.2 grams per tonne of gold from veins up to 9.22 metres in width.

The system was uncovered through trenching, geologic mapping, geophysical surveying and geochemical sampling, which was being conducted in preparation for an upcoming diamond drilling program.

Kodiak reveals that the area in which it is operating has accounted for more than four million ounces of gold production in the past.

"The successful exploration program at Hercules is part of a larger, systematic evaluation of this significant and very under-explored gold district," said the company's Brian Maher.

"Kodiak is committed to this program as we believe that the undiscovered gold potential of this greenstone belt is similar to other major greenstone belts in Canada, and our dominant land position, coupled with our technical expertise will enhance the opportunity for additional discoveries."