Kaizen Discovery receives remaining permits for exploration
at its Coppermine Project in Nunavut, northern Canada
Drilling at Coppermine Project commences
VANCOUVER, CANADA – Kaizen Discovery (TSXV: KZD) announced today that it has received the remaining land and water use permits and mineral rights required for its exploration program at the Coppermine Project in Canada's Arctic territory of Nunavut. The company's planned diamond drilling program, consisting of 14 holes totalling 1,500 metres, is now underway.
Kaizen's wholly owned Nunavut operating entity, Tundra Copper Corp., reports the following:
"We are pleased to have received all of the permits we applied for, which will allow us to fully explore the prospective licences acquired and staked last year," said Dr. David Broughton, Kaizen's Executive Vice President, Exploration.
Kaizen's current exploration campaign targets district-scale, sediment-hosted, stratiform copper mineralization and high-grade, volcanic-hosted copper-silver within the larger permit area. The 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). Drill mobilization was completed on July 26 and drilling has commenced with initial holes designed to test volcanic-hosted targets.
"Kaizen is advancing discussions with various potential partners, including a number of prominent Japanese corporations, with a view of securing funding for the development of Coppermine," said B. Matthew Hornor, Kaizen's President and Chief Executive Officer.
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.
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 a planned diamond drill program consisting of 14-holes totalling 1,500 metres, fully exploring prospective licences, and advancing discussions with various potential partners including prominent Japanese corporations with a view to securing funding.
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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