Kaizen Discovery Completes Earn-in of an Initial 49% Interest in the Fairholme Copper-Gold Project in Australia
16 Janeiro 2014 - 8:00PM
Marketwired
Kaizen Discovery Completes Earn-in of an Initial 49% Interest in
the Fairholme Copper-Gold Project in Australia
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 16, 2014) -
Matthew Hornor, Chief Executive Officer of Kaizen Discovery Inc.
(TSX-VENTURE:KZD), announced today that Kaizen has completed its
initial earn-in expenditures and now owns a 49% interest in the
Fairholme copper-gold porphyry exploration project in central New
South Wales, Australia. Clancy Exploration Limited, an
Australia-based exploration company, owns the remaining 51%.
The Fairholme Project is being explored by Kaizen under the
terms of an earn-in agreement between Clancy Exploration and
Kaizen. 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, with the aim of delineating
a scoping study. Kaizen can further increase its stake to 80% or
85% by funding a prefeasibility study (depending on the cost of the
study).
In cooperation with Clancy Exploration, Kaizen has initiated the
process to formally register its ownership interest with the
appropriate regulatory authorities in New South Wales. Kaizen has
retained SRK Consulting to prepare an independent, National
Instrument 43-101 Technical Report on the Fairholme Project before
starting its next phase of exploration.
About the Fairholme Project
The Fairholme Project consists of two tenements that cover
approximately 172 square kilometres of the Fairholme Igneous
Complex, part of the Macquarie Arc that hosts porphyry copper-gold
deposits at Cadia and Northparkes.
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, a 100%-owned subsidiary of High
Power Exploration. Kaizen's existing portfolio of exploration
projects consist of Ebende and Kabongo in the Democratic Republic
of Congo, Fairholme in Australia and Kerboulé in Burkina Faso. 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 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.
Kaizen Discovery Inc.Bill
Trenaman+1-604-689-8765www.kaizendiscovery.com
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