Kaizen Discovery Provides Update on Permitting Process for Its Planned Exploration Program at the Pinaya Copper-Gold Project
TSX VENTURE: KZD
Vancouver, British Columbia--(Newsfile Corp. - March 1, 2018) - Kaizen Discovery Inc. (TSXV: KZD) today announced that the Pinaya Copper-Gold Project in Peru has now entered the fourth stage of the "Consulta Previa" or "Prior Consultation" review. This stage of the seven-stage review process will see the Ministry of Energy and Mines (MINEM) provide information to the communities in the vicinity of the Pinaya Project regarding Kaizen's planned exploration drilling program and the communities' rights under the consultation process.
The Pinaya Project's Consulta Previa review involves consultation with the community of Pinaya and the neighboring community of Atecata, which may be indirectly affected by the planned exploration activities.
Details of the Consulta Previa process for the community of Pinaya and the timing for the remaining stages are available on MINEM's website at: Click Here.
Under Peruvian law, the government-led prior consultation process verifies that the considerations of any local peoples that could represent an indigenous population have been recognized. This process is designed to ensure that, as the project advances, future community stakeholder relations are managed in a transparent and comprehensive manner. The Consulta Previa is the final stage of government review prior to MINEM issuing to Kaizen the Authorization to Commence Activities for its planned drilling program at the Pinaya Project.
"While the Consulta Previa has taken longer to initiate than expected, we are pleased that there is a robust process for collaboration between the local communities and the government to better understand the potential impacts of the Pinaya Project," said Tom Peregoodoff, Kaizen's President and Chief Executive Officer. "The process that is currently underway now is well advanced and is ensuring that all stakeholders are consulted in an open and transparent manner."
The current, planned first phase of exploration at Pinaya includes approximately 4,000 metres of drilling. Of this total, approximately 3,000 metres is planned to focus on the expansion of the Mineral Resource area, where re-logging of core drilled by previous operators has identified compelling resource expansion opportunities along strike to the north (the Cerro Antaña target area) and south of the defined Mineral Resource area. An additional 1,000 metres is planned to test new targets to the east of the current resource, including the new Pedro 2000 target. The final program design may be amended upon receipt of the Authorization to Commence Activities to take into account feedback from the Consulta Previa process.
Kaizen's technical team continues to assess other mineral exploration projects with the goal of identifying new opportunities for growth.
About Kaizen DiscoveryKaizen is a Canadian mineral exploration and development company with exploration projects in Peru and Canada. More information on Kaizen is available at www.kaizendiscovery.com.
Kaizen's Chief Operating Officer, Mark Gibson, PrNatSci, is the Qualified Person as defined under National Instrument 43-101 who has reviewed, approved, and is responsible for the scientific and technical information presented in this news release.
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.
Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws. Such statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Kaizen Discovery, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict", and other similar terminology, or state that certain actions, events; or results "may", "could", "would", "might", or "will" be taken, occur, or be achieved. These statements reflect the Company's current expectations regarding future events, performance, and results and speak only as of the date of this news release.