Kaizen Discovery achieves important permitting milestoneVANCOUVER, CANADA – Kaizen Discovery (TSXV: KZD) announced today that the company's plan for an expanded exploration program at its Coppermine Project in Canada's Arctic territory of Nunavut has received a positive screening review by the Nunavut Impact Review Board.
at the Coppermine Project in Nunavut, northern Canada
The decision by the Nunavut Impact Review Board (NIRB), following its comprehensive review, means that final processing of the required permits for an expanded, multi-year exploration program may proceed. Kaizen's existing permits cover an area of 350 square kilometres, that in light of the NIRB decision is expected to expand to encompass approximately 3,500 square kilometres.
Kaizen intends to focus this summer's exploration campaign on district-scale, sediment-hosted, stratiform copper mineralization within the larger permit area. As part of this program, the company will implement its carefully developed Wildlife and Environmental Impact Mitigation Plan. Camp construction and mobilization of equipment and supplies are underway, with diamond drilling expected to commence later this month.
Also during this month, Kaizen will be hosting property tours at the Coppermine Project for executives of several Japanese corporations with the objective of selecting a project funding partner or partners. In addition to a detailed project review, potential partners will visit the Hamlet of Kugluktuk where they will meet members of the community and be introduced to Inuit culture and traditions.
"We are very encouraged by the Nunavut review board's screening decision," said B. Matthew Hornor, President and CEO of Kaizen.
"Since initiating the permitting process, we have worked diligently to engage with the community of Kugluktuk and the various agencies and organizations involved in the assessment and monitoring of the Coppermine Project. In the process, we've gained a deep appreciation for the concerns, customs and values of the people of Nunavut. In particular, we welcome the support that the project has received from the community of Kugluktuk, the Kugluktuk Hunters and Trappers Organization and the Kitikmeot Inuit Association."
The NIRB decision may be viewed in the "Public Registry" at http://www.nirb.ca.
About Kaizen and the Coppermine Project
Kaizen is a Canadian mineral exploration and development company. Kaizen entered into a collaboration agreement with ITOCHU Corporation of Japan in January 2014 and has access to HPX TechCo's proprietary, geophysical, Typhoon technology under a dedicated services agreement. Kaizen's long-term growth strategy is to work with Japanese entities to identify, explore and develop high-quality mineral projects that have the potential to produce and deliver minerals to Japan's industrial sector.
The 3,500-square-kilometre Coppermine Project contains 115 kilometres of strike of an easterly-trending belt of Meso-Proterozoic continental flood basalts (the Coppermine River Group) and unconformably overlying marine sedimentary rocks of Neo-Proterozoic age (the Rae Group). The belt has numerous showings and occurrences that demonstrate its prospectivity for two distinct deposit types: sediment-hosted stratiform copper-silver and structurally controlled, volcanic-hosted copper-silver.
More information on Kaizen and the Project is available at www.kaizendiscovery.com.
B. Matthew Hornor
President and Chief Executive Officer
Interim Chief Financial Officer and Executive Vice President -- Corporate Development
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 news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Kaizen's periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, should," and similar expressions, are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information.
Forward-looking statements may include, without limitation, statements regarding final processing of required permits, expanded permits, expected timing for drilling, implementation of a mitigation plan and hosting of property tours.
Although Kaizen has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the proposed transaction could be modified, restricted or not completed, and the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Kaizen disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Kaizen does not assume any liability for disclosure relating to the other company mentioned herein.
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