Tag Archives: Kaizen Discovery

NEWS: Kaizen Discovery Announces Retirement of Chief Financial Officer and Appointment of Interim Chief Financial Officer

Jun 1, 2015

Kaizen Discovery Inc. (TSX VENTURE:KZD) announced today the retirement of Pierre Massé, the company’s Chief Financial Officer (CFO).

Mr. Massé has been the CFO for Kaizen since the company was formed in late 2013. He also has served as the CFO of GoviEx Uranium Inc. since early 2011, and previously served as Vice President, Finance of Ivanhoe Mines Ltd. (now Turquoise Hill Resources Ltd.) for more than ten years.

Kaizen is actively engaged in an external search for a new Chief Financial Officer. Steve Vanry, Kaizen’s Executive Vice President, Corporate Development, will serve as Interim CFO until Mr. Massé’s replacement is appointed. Mr. Vanry is a Chartered Financial Analyst (CFA) and Chartered Investment Manager (CIM) with more than 20 years’ experience working with various public and private Canadian corporations in the areas of financial reporting, corporate finance, mergers and acquisitions and regulatory compliance.

“On behalf of everyone at Kaizen, I want to thank Pierre for his dedication and significant contributions to the company,” said Kaizen’s President and CEO B. Matthew Hornor. “He has played an integral role in guiding the company’s strategic financial and operational activities. We wish Pierre well in his retirement.”

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NEWS: Kaizen Discovery announces the start of 2015 Canadian exploration activities at Coppermine in Nunavut and Aspen Grove and Tanzilla in British Columbia

Kaizen Discovery, April 27, 2015

Kaizen Discovery Inc. (KZD-TSXV) today announced the start of its Canadian 2015 field season, with initial mobilization and stakeholder engagement at the Coppermine Project in Nunavut and the beginning of fieldwork at the Aspen Grove Project in southern British Columbia. Details also are provided of the season’s planned programs at the Coppermine, Aspen Grove and Tanzilla projects, and of recent drill results at the Fairholme Project.
Figure 1. Locations of Kaizen Discovery’s projects and offices.

Coppermine Project, Nunavut

The Coppermine Project is an early-stage, district-scale exploration play in Nunavut, in northern Canada. Kaizen controls 100% of the project following its acquisition of Tundra Copper Corp. in November 2014. Following the acquisition, Kaizen staked additional Prospecting Permits and applied for permits on Inuit-Owned Lands (IOLs), yielding a total landholding of approximately 3,500 square kilometres (1,351 square miles).

The tenements constitute a district-scale greenfields exploration prospect, covering approximately 115 kilometres of strike of an easterly-trending belt of Meso-Proterozoic continental flood basalts (the Coppermine River Group) and unconformably overlying marine sedimentary rocks of Neo-Proterozoic age (the Rae Group). The belt has numerous mineral showings and occurrences that demonstrate its prospectivity for two distinct deposit types: 1) sediment-hosted, stratiform copper-silver; and 2) structurally-controlled, volcanic-hosted copper-silver.

Kaizen’s planned 2015 exploration program includes regional mapping, sampling and diamond drilling of both the volcanic- and sedimentary-hosted stratiform targets. Permit applications have been submitted for drill holes within the basal part of the Lower Rae Group to test the presence and continuity of previously identified stratiform copper mineralization. Drill permit applications also have been submitted for holes proposed within the Coppermine River basalts, which will test the vertical and strike continuity of high-grade, volcanic-hosted copper mineralization.

Initial mobilization of fuel and camp supplies to an existing airstrip within the project area has been completed. Final mobilization and start-up of field operations are scheduled for early June, assuming all required stakeholder approvals and permits are received.

Details of the proposed Coppermine exploration program recently were presented by Kaizen’s President and CEO B. Matthew Hornor to the Nunavut Mining Symposium in Iqaluit. Kaizen also held meetings with local stakeholders in Kugluktuk, the community closest to the project area, and Iqaluit. 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, also attended the conference.

Mr. Hornor commented, “We are very encouraged by the interest and support shown for our Coppermine Project, which will be one of the few active exploration projects in far western Nunavut this year. We are looking forward to starting field operations and hosting our Japanese partners and interested parties on site, and expect to finalize additional project financing for this district-scale initiative.”

Figure 2. Geology map of Kaizen’s Coppermine Project, showing locations of the two types of exploration targets: sediment-hosted stratiform copper in Rae Group sediments and volcanic-hosted copper in the Coppermine volcanics.

Aspen Grove Project, British Columbia

The Aspen Grove Project is comprised of 29 claims (112 square kilometres/42 square miles) that are 100%-owned by KZD Aspen Grove Holding Ltd., a subsidiary 60%-owned by Kaizen and 40%-owned by ITOCHU Corporation of Japan. Aspen Grove is located between the Highland Valley and Copper Mountain mines at the southern end of British Columbia’s copper-rich Quesnel Trough. The property covers part of an extensive belt of porphyry copper mineralization hosted by Upper Triassic Nicola Group volcanic rocks and Late Triassic to Early Jurassic intrusions.

Kaizen and its joint venture partner, ITOCHU, plan to expand the exploration of the Par prospect and begin exploration of two new areas: the Ketchan Lake and the Boss/Zig/Thalia (BZT) prospects. The 2015 program will include a 3D induced polarization (IP) survey to be conducted by SJ Geophysics, a 7,000-metre drill program, and further mapping and sampling of the prospects. The program is fully funded through ITOCHU’s $4.0 million investment completed in 2014.

The 3D IP survey began on April 15 and is expected to cover a total of approximately 15 square kilometres (5.8 square miles), including the extension of the Par prospect, followed by the Ketchan Lake and BZT prospects. The 7,000-metre drill program is planned to start in early June and will test anomalies from the 2014 3D IP survey at the Par prospect and its extension to the northeast, and investigate historic results and any new geophysical IP anomalies identified within the Ketchan Lake and BZT prospects.

“We are pleased to be back in the field and kicking off our 2015 field season at Aspen Grove, with a significant greenfields drill campaign in a prospective part of southern British Columbia,” said Kaizen’s EVP Exploration, Dr. David Broughton.

Figure 3. Outline of Aspen Grove claim with main prospects to be explored in 2015. BZT refers jointly to Boss, Zig and Thalia prospects.

Tanzilla Project, British Columbia

The Tanzilla Project is located in northwest British Columbia, approximately 20 kilometres southeast of the community of Dease Lake. The project is comprised of 26 claims (80 square kilometres/31 square miles) that are 100%-owned by Kaizen. The program is being funded by Freeport-McMoRan of Canada Limited (Freeport), a wholly-owned, indirect subsidiary of Freeport-McMoRan Inc., as part of an earn-in agreement. Freeport can earn an initial 51% interest by funding cumulative expenditures of $8.0 million over a four-year period. Kaizen is the operator under the agreement.

Tanzilla is situated within the east- to northeast-trending Stikine Arch, where mid-Paleozoic to Middle Jurassic arc volcanic and intrusive rocks host a number of productive porphyry and epithermal systems. The property covers a seven-kilometre-long alteration zone associated with anomalous copper, zinc, lead, gold and silver values in rocks. Previous work identified chalcopyrite-bearing, altered porphyritic intrusive rocks in creek and gulley outcrops near the base of Silica Ridge. Three holes were completed in 2014, one of which (TZ14-05) bottomed in more than 400 metres of intense advanced argillic to phyllic-altered breccia and widespread copper-molybdenum mineralization. A drilling budget for 1,500 metres has been approved for 2015.

“These initial drill results are consistent with an altered lithocap over a significant buried porphyry system,” Dr. Broughton said. “We’re looking forward to working with Freeport to test this target during the upcoming field season.”

Figure 4. Drill plan for 2014 program at Tanzilla Project, showing large chargeability high. Drill hole TZ14-05 intersected more than 400 metres of advanced argillic and phyllic alteration with associated weak copper-molybdenum mineralization, interpreted as an extensive lithocap over a buried porphyry system. Follow-up drilling is planned for 2015.

Fairholme Project, New South Wales, Australia

The Fairholme Project is located within the Macquarie Arc, which hosts multiple porphyry copper-gold deposits, including Cadia and Northparkes. The southern part of the project area contains the Boundary, Dungarvan and Gateway prospects that are associated with highly anomalous basement copper-gold-molybdenum geochemistry, as well as discrete magnetic anomalies. Historic drilling by Newcrest Ltd. encountered mineralization and alteration consistent with a porphyry copper system.

Kaizen earned a 49% interest in the Fairholme Project in January 2014 and, under the terms of the earn-in agreement with operator Clancy Exploration, can earn up to a 65% interest in the project by incurring exploration expenditures of A$4 million before December 31, 2015.

Since January 2014, Kaizen and Clancy Exploration have completed a helicopter-borne magnetic survey over the entire property, a 3D IP survey and most recently a 2,453-metre diamond drill program. The project area is largely covered by thick, electrically conductive overburden, which is a barrier to traditional IP methods. The 2014 3D IP survey was conducted using HPX TechCo’s proprietary TyphoonTM system over an area of 31 square kilometres (12 square miles) encompassing the Boundary, Dungarvan and Gateway prospects. Ten chargeable IP anomalies below the conductive overburden were defined by the survey, three of which (T1 to T3) form a large (2 x 2 kilometre) chargeability cluster between the prospects. A nearby chargeable anomaly (T5) is associated with geochemical anomalies at the Dungarvan prospect.

Four drill holes were completed from mid-December 2014 through March 2015. Three holes tested Targets 3 and 5 coincident with the main magnetic-intrusive centre at the Dungarvan prospect (FHD004-5 and FHD007). Drill hole FHD006 tested the magnetic low adjacent to Dungarvan.

Drill hole Easting Northing Azimuth Dip Depth (metres)
FDH004 534158 6297698 32 -70 541.9
FDH005 534567 6297072 28 -80 711.7
FDH006 533364 6298246 28 -65 793.3
FDH007 534506 6297011 120 -60 405.9
TOTAL 2452.8

The drill holes over the Dungarvan prospect intercepted an extensive porphyry system associated with the main magnetic high centre. Rocks encountered included monzodiorite, intermediate feldspar-hornblende porphyry, intermediate feldspar porphyry and diorite intrusions hosted by an intermediate package of bedded, matrix-supported polymictic conglomerate and medium- to fine-grained volcaniclastic rocks. Hole FDH006 encountered well-bedded fine- to medium-grained volcaniclastic rocks with lesser conglomerate and minor feldspar porphyry intrusions. The drill holes intersected minor copper-gold mineralization within a broad zone of disseminated iron-sulphide-bearing volcaniclastic rocks, considered the source of the chargeability anomaly. A large part of the project area remains insufficiently explored under cover, and a project review is underway.

Figure 5. Plan view of the southern part of the Fairholme project area, showing the 3D chargeability model sliced at -450-metre depth, and the locations of the 10 targets (contoured at 0.5mV/V intervals) with respect to the drill collars and prospect locations.

Ebende Project, Democratic Republic of Congo (DRC)

The Ebende Project is a greenfields exploration project consisting of 17 contiguous and near-contiguous licences located in the Eastern Kasai and Katanga Provinces of the DRC, 100%-owned by Kaizen. Kaizen recently filed for relinquishment of 50% of the licence area following expiration of the first, five-year tenure period, as required by DRC law. The Ebende Project is underlain by a regional-scale belt of mafic volcanic rocks adjacent to a cratonic boundary. The geological setting is considered to be conceptually prospective for magmatic deposits of nickel, copper,and platinum-group elements. Previous exploration work included aeromagnetic, gravity, stream geochemistry and TyphoonTM IP surveys, as well as preliminary diamond drilling. Initial regional stream-sediment sampling highlighted an area with elevated nickel, copper, platinum and palladium. In 2014, Kaizen contracted a second TyphoonTM survey and a soil geochemical survey to follow up on this area. Copper-in-soil anomalies coincident with chargeable zones along the footwall of the Ebende volcanics warrant drill testing. No significant mineralization has been intersected to date. Kaizen is considering funding options to advance this project.


Kaizen Discovery: Canadian-Japanese partners eye promising copper project in western Nunavut

NunatsiaqOnline, Apr 15, 2015


“We think we have a great start at building something terrific”

There’s something a little different about a new copper-silver project near Kugluktuk.

This doesn’t come as a surprise because Matthew Hornor, president and CEO of a company called Kaizen Discovery, confided “our dream was to do things different” during an April 14 presentation to the Nunavut Mining Symposium in Iqaluit.

“Kaizen,” by the way, means continuous improvement in Japanese, a language that Hornor, who has a long-time relationship with Japan, speaks fluently.

Kaizen Discovery’s Coppermine project is one of two Nunavut mining projects with Japanese partners — the other being Areva Resources Canada’s Kiggavik uranium project whose minority partners include Japan-Canada Uranium Co. Ltd. and Daewoo International Corp.

Kaizen’s Coppermine copper-silver project, acquired last November, is also a newcomer to the western Nunavut mining scene.

Hornor said he’s reluctant to make promises until the company is sure the resources are there to support a large copper-silver mine project.

But this fledgling project has a few things that make it stand out among the slow-starting, stalled or failed mining projects in Nunavut’s Kitikmeot region.

Those include MMG’s ambitious Izok corridor project, now in limbo because it couldn’t find partners, especially government ones, to help pay for a port, airport, road, and microwave broadband system.

The Coppermine project, in contrast, has access to money — enough to build the $270-million port and most of the other basic infrastructure it would need for a future mine.

That’s because of the connection between Tundra Copper Corp. and Kaizen Discovery.

Kaizen’s partners include Itochu Corp. in Japan, a major trading house company worth $20 billion which is always on the lookout for resources to feed Japan’s hungry automotive and electronic industries.

Second, the Coppermine project’s property looks great with high-grade, large tonnage potential copper-silver deposits — and it’s located only five kilometres from a possible port and close to the town of Kugluktuk, which lies only 35 km from the centre of the claim.

“We think we have a great start at building something terrific,” Hornor told Nunatsiaq News.

Whatever his company does on the new property, Hornor said it will be done in close and respectful collaboration with the people of Kugluktuk.

Asked why he’s so optimistic about the Coppermine project’s future when other mining projects based in the mineral-rich Kitikmeot region haven’t yet managed to move from development to production, Hornor said the key to getting any mining project off the ground is to have a solid deposit.

And then you must find partners with “large shoulders,” such as Itochu, to sustain the project during its costly development and construction period.

Another plus for the Coppermine project — it’s not far from a future port on the Coronation Gulf, so the mine wouldn’t need the kind of 325-km all-season road needed by MMG for its badly ailing Izok Corridor mine complex, whose fuel supplies Kaizen have acquired for its planned Hope Lake camp.

Also in the Coppermine project’s favour: its location along a direct shipping route to Asia, which, Hornor said, has the potential to “open the Kitikmeot [region of Nunavut] to growth.”

The unexploited resources of Nunavut, and the big promise of the Coppermine project, drew Norihiro Yamaji to the symposium.

He’s the Vancouver-based deputy general manager of Japan Oil Gas and Metals National Corp., a well-financed state agency that seeks projects to invest in and then turn over to private industry.

Norihiro Yamaji, deputy general manager of the Japan Oil, Gas and Metals National Corp., and Matthew Hornor, president and CEO of Kaizen Discovery, look over mine project materials at the Frobisher Inn in Iqaluit April 14 during the Nunavut Mining Symposium. (PHOTO BY JANE GEORGE)
Norihiro Yamaji, deputy general manager of the Japan Oil, Gas and Metals National Corp., and Matthew Hornor, president and CEO of Kaizen Discovery, look over mine project materials at the Frobisher Inn in Iqaluit April 14 during the Nunavut Mining Symposium.


Kaizen Discovery featured in The Northern Miner and Resource World Magazine

Gecko Research, Apr 10, 2015

Please find below two feature articles on Kaizen:

•     Kaizen searches for Kamoa analogues in Canada’s Far North (The Northern Miner, April 9, 2015)

•     Kaizen Discovery on the acquisition trail (Resource World Magazine, April 9, 2015)

NEWS: Kaizen Discovery and Tower Resources Terminate Negotiations

Mar 30, 2015

Kaizen Discovery (TSX VENTURE:KZD) and Tower Resources Ltd. (TSX VENTURE:TWR) announced today that they have elected not to proceed with the proposed transaction, previously announced on February 2, 2015, that would have seen Kaizen acquire 100% of the outstanding common shares of Tower.

About Kaizen Discovery
Kaizen is a Canadian technology-focused, mineral exploration and development company. Kaizen entered into a collaboration agreement with ITOCHU Corporation of Japan in January 2014 and has access to HPX TechCo’s proprietary geophysical Typhoon technology under a dedicated services agreement. 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.

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