AN independent technical report for the Fairholme copper-gold porphyry exploration project in Central West New South Wales recommends that Kaizen Discovery undertake a further 3D induced-polarization survey on the property, followed by diamond drilling of any targets that are generated. The report provides information on the project’s history, previous exploration results and exploration potential.
The report, which was prepared by SRK Consulting (Australasia), in accordance with NI 43-101 Standards of Disclosure for Mineral Projects, also recommends a second-phase drill program 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 172sqkm.
The Fairholme project is being explored by Kaizen under the terms of an earn-in agreement between ASX-listed Clancy Exploration Ltd 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 Aus$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.
The Fairholme project consists of a two exploration licences, Fairholme and Manna that are about 12km northeast of the town of Burcher and 12km north of the Cowal Gold Mine.
Kaizen is a Canadian, technology-focused, mineral exploration company formed in late 2013 through a combination of Concordia Resource Corp and assets acquired from HPX TechCo, a subsidiary of High Power Exploration. 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.