|By Marketwired .||
|March 10, 2014 07:24 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/10/14 -- Kaizen Discovery (TSX VENTURE:KZD) announced today that it has filed an independent technical report for the Fairholme copper-gold porphyry exploration project in central New South Wales, Australia. The report was prepared by SRK Consulting (Australasia) Pty. Ltd., in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, and is available on the company's profile on SEDAR and on the Kaizen website at www.kaizendiscovery.com.
The report provides information on the project's history, previous exploration results and exploration potential; it also recommends that Kaizen undertake a further 3-D induced-polarization survey on the property, followed by diamond drilling of targets that are generated. A second-phase drill program is recommended to delineate the extent of any promising mineralization that is encountered.
The technical report has been prepared and filed in satisfaction of an undertaking made to the TSX Venture Exchange in connection with the December 2013 reverse take-over involving Concordia Resource Corp., which created Kaizen.
Fairholme is an early-stage exploration project targeting porphyry-related gold and copper mineralization within the Fairholme Igneous Complex, which forms part of the Macquarie Arc that hosts porphyry copper-gold deposits at Cadia and Northparkes. The project consists of two tenements that cover approximately 172 square kilometres.
The Fairholme Project is being explored by Kaizen under the terms of an earn-in agreement between ASX-listed Clancy Exploration Limited and Kaizen. Kaizen already has earned a 49% interest in the project. The agreement gives Kaizen the right to increase its interest in the project to 65% by funding an additional A$4 million in exploration over the next two years. Kaizen can further increase its stake up to 95% by funding additional, staged programs leading to a feasibility study.
About Kaizen Discovery
Kaizen is a Canadian, technology-focused, mineral exploration company that was formed in late 2013 through a combination of Concordia Resource Corp. and assets acquired from HPX TechCo Inc., a 100%-owned subsidiary of High Power Exploration Inc. Kaizen's existing portfolio of exploration projects consists of Ebende and Kabongo in the Democratic Republic of Congo, Fairholme in Australia and Kerboule in Burkina Faso. With its collaboration agreement with ITOCHU, the company's long-term growth strategy is to produce and deliver minerals to Japanese industries. A strong management team and an experienced board, combined with the improved project portfolio and access to HPX TechCo's leading-edge, proprietary technology, will help enable Kaizen to more effectively identify and advance world-class mineral projects.
More information on Kaizen is available at www.kaizendiscovery.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in the company's periodic filings with Canadian securities regulators. When used in this document, the words such as "will, could, plan, estimate, expect, intend, may, potential, should," and similar expressions, are forward-looking statements. Specific forward-looking statements in this press release include statements concerning Kaizen's future earn-in to the Fairholme Project and future expenditures.
All such forward-looking information and statements are based on certain assumptions and analyses made by members of Kaizen's management in light of their experiences and perceptions of historical trends, current conditions and expected future developments, as well as other factors that they believe are appropriate in the circumstances. Such factors include, among others, the results of exploration activities at the Fairholme Project. These statements, however, are subject to a variety of risks, uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Readers are cautioned not to place undue reliance on forward-looking information or statements.