An aerial view of Kugluktuk. The town is less than 100 kilometres east of Kaizen Discovery Inc.'s Coppermine River project, providing easy airport access. Kaizen Discovery now holds more than 4,000 square kilometres of mineral rights in the district, after recently acquiring Tundra Copper Corp. - photo courtesy of Tundra Copper Corp. |
Kaizen announces exploration plans
Operations to start at Coppermine project near Kugluktuk
Karen K. Ho
Northern News Services
Monday, May 4, 2015
VANCOUVER
Mineral exploration and development company Kaizen Discovery Inc. (TSX:V-KZD) recently announced the plans for its 2015 field season, including its Coppermine project located near Kugluktuk.
The early-stage, district-scale exploration project is 100 per cent owned by the company following its approximately $1.69 million acquisition of Tundra Copper Corp. last November.
Following the acquisition, Kaizen staked additional prospecting permits and also applied for permits on Inuit-owned lands. Doing so yielded the company a total of approximately 3,500 square kilometres.
In a press release, the company said the Coppermine project has numerous mineral showings and occurrences that demonstrate its potential for two distinct deposit types of copper and silver.
This year, Kaizen's exploration program includes regional mapping, sampling and diamond drilling.
While the company has submitted permit applications for drill holes to test previously identified copper deposits, executive vice-president of corporate development, Steve Vanry, told Nunavut News/North that Kaizen doesn't have them yet.
"Fingers crossed," he said.
Kaizen has completed the initial delivery of fuel and camp supplies for the project to an existing airstrip.
The company said field operations are scheduled to begin in early June, as long as they receive all the required stakeholder approvals and permits.
Company president and CEO B. Matthew Hornor recently attended the Nunavut Mining Symposium, where he presented details of the proposed Coppermine exploration program. Kaizen has also held meetings with stakeholders in Kugluktuk, the community closest to the project area, and Iqaluit.
However, the company could not provide details about the meetings by press time.
At the Nunavut mining conference were members of the Japanese business community and a representative from Japan Oil, Gas and Metals Corporation, the government entity responsible for securing Japan's natural resource supply.
It should be noted that the ITOCHU Corporation of Japan holds a 6.35 per cent interest in Kaizen and has signed an exploration agreement with the company to develop base metal - copper in particular - resources for Japanese industrial consumption.
In December, Kaizen had a market capitalization of $58 million USD.
-With files from Walter Strong
