Knucklethumb funded

Vancouver — Kodiak Exploration (KXL-V) has raised $2.8 million in a non-brokered private placement, with funds earmarked for further drilling at the Kuncklethumb property, near Thunder Bay, Ont.

A recent induced-polarization survey on the 10-sq. km property extended some anomalies while defining new ones.

Chargeability anomaly KL-06 was extended by 1,000 metres to the southwest and will be tested with further drilling. A previous drill hole intersected 158 metres (starting at 16 metres down-hole) of bornite, chalcopyrite, pyrite, sphalerite, and arsenopyrite. Assays will determine whether or not gold, silver and base metals are present as well.

Kodiak is testing a series of coincident chargeability and geochemical anomalies around an extensive alteration system.