Aclara Resources raises $25m for Carina project in Brazil
Chilean conglomerate CAP, which has invested $80 million in the company's Penco project, will become a new shareholder.
Kaizen Discovery (TSXV: KZD) announced that it has just completed all permitting requirements at its 100%-owned Pinaya copper-gold project in southeastern Peru and has executed new land access and community agreements with the Pinaya community.
The finalizing of the permitting process allows the Vancouver-based company to set a target date for its 2019 resource expansion and target testing drill program.
Pinaya is located in southeastern Peru, some 150
kilometres northeast of the city of Arequipa
In a press release, Kaizen said it has already served notice to various government regulators of its intention to start the drilling campaign, which will be focused on a mineral resource area where Kaizen has identified compelling resource expansion opportunities along strike to the north, at Cerro Antana, and to the south, at Viscachani.
The miner also said that additional drilling is planned to test the new Pedro Dos Mil target, where mapping completed by Kaizen has identified outcropping potassic-altered quartz diorite porphyry carrying chalcopyrite-bearing, early-stage “A” type veining, which coincides with anomalous values of copper and gold in soils as well as ground-magnetic and chargeability anomalies.
Pinaya lies within the Andahuaylas-Yauri Porphyry Belt, which hosts numerous porphyry and skarn systems, including Las Bambas, Tintaya, Constancia and Haquira.
Kaizen reports that measured and indicated resource estimate totals 41.7 million tonnes grading 0.32% copper and 0.49 g/t gold containing 298 million pounds of copper and 656,000 ounces of gold. The estimated inferred resource totals 40.2 million tonnes grading 0.36% copper and 0.30 g/t gold and contains 319 million pounds of copper and 388,000 ounces of gold.
