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90%-owned by Kaizen
The Pinaya Project covers 192 square kilometres and includes more than 25 kilometres of strike length within the Andahuaylas-Yauri Porphyry Belt in southeastern Peru. This belt hosts numerous productive and world-class porphyry and skarn systems, including Las Bambas, Tintaya, Constancia, Haquira, and Antapaccay.
The Pinaya Project contains mineral resources within three contiguous zones over a 1.7-kilometre strike in the central part of the property. The project's estimated measured resource totals 8.2 million tonnes grading 0.33% copper and 0.60 grams per tonne (g/t) of gold, for contained metal of 27,000 tonnes of copper and 158,000 ounces of gold. The project's estimated indicated resource totals 33.5 million tonnes grading 0.32% copper and 0.46 g/t gold, for contained metal of 108,000 tonnes of copper and 497,000 ounces of gold. The project also has an Inferred resource of 40.2 million tonnes grading 0.36% copper and 0.30 g/t gold, containing 145,000 tonnes of copper and 388,000 ounces of gold.
Previous exploration on the property was focused mainly on defining the current Mineral Resources and much less on systematic regional exploration. Kaizen has reviewed existing geochemical and geophysical surveys and has identified multiple untested targets along and across the strike of the current mineral resources.
Kaizen has signed land access agreements with the community of Pinaya and individual private landholders that provide Kaizen with access rights to conduct its planned exploration program at the Pinaya Project for a two-year period. Kaizen also signed two separate agreements with the community outlining social development and employment commitments.
On February 14, 2017, Kaizen received approval of its Declaration for Environmental Impact ("DIA") for the Pinaya Project. The DIA allows Kaizen to use up to 20 drilling platforms and to drill as many as 55 holes totaling up to 17,200 metres. The DIA also enables Kaizen to excavate 95 trenches. In addition, the Certificate of Non-Existence of Archaeological Remains has been received which is also a precondition to commencing drilling.
The 2017 drilling program, which will consist of approximately 4,000 metres, is awaiting receipt of final permits from the Peruvian government, including formal permission to initiate activities and water and fuel-use permits.
Approximately 3,000 metres of drilling will be focused on the expansion of the Pinaya Mineral Resource area, where recent re-logging of core drilled by previous operators has identified compelling resource expansion opportunities along strike to the north and south of the defined Mineral Resource area and in the Antaña target area.
Pinaya camp facilities.
Pinaya core shed.
An updated National Instrument 43-101 ("NI 43-101") technical report
for the Pinaya Project was prepared jointly by Brian Cole, P.Geo and GeoSim Services Inc., with an effective date of April 26, 2016.