Drilling Commences at Aspen Grove Project in Southern BC
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 13, 2016) - Kaizen Discovery Inc. (TSX VENTURE:KZD) announced today that it has commenced with its 2016 exploration drilling program at the company's Aspen Grove Project. Approximately 3,500 metres of drilling, in eight holes, is planned for this year's program.
The 2016 exploration program will follow up on significant 2015 drill intercepts within the Ketchan porphyry system; test new targets on the eastern margin of a major interpreted controlling structure; and test beneath undrilled surface mineralization and historic drill holes that ended in mineralization.
The Aspen Grove Project covers 112 km2 near the city of Merritt in southern British Columbia's premier porphyry copper belt, part way between the Copper Mountain and Highland Valley copper mines. The project covers part of an extensive belt of porphyry copper-gold mineralization hosted by Early Triassic Nicola Group volcanic rocks and Late Triassic to Early Jurassic intrusions.
Kaizen owns 60% of Aspen Grove and is the project's operator, with Kaizen's strategic partner, ITOCHU Corporation of Japan, owning the other 40% interest.
The 2016 exploration program at the Aspen Grove Project is being funded by the dedicated project financing provided for the Aspen Grove Project by ITOCHU in 2014.
Kaizen's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Nils Peterson, M.Sc., P.Geo., Project Geologist for Kaizen, who serves as a Qualified Person as defined under National Instrument 43-101. Mr. Peterson is not independent of Kaizen for purposes of NI 43-101.
About Kaizen Discovery
Kaizen is a Canadian mineral exploration and development company with a portfolio of exploration projects in Canada and Peru. 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 is available at www.kaizendiscovery.com.
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.
Forward-looking statements may include, without limitation, statements regarding Kaizen's plan to drill approximately 3,500 metres in eight holes at the Aspen Grove Project in 2016.
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, including, but not limited to, equipment failure, the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or future operations, and local opposition to exploration activities. 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 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 any other company mentioned herein.
Kaizen Discovery Inc.
Interim Chief Executive Officer