Aug 25 2014
Kaizen Discovery Inc. today announced the receipt of C$4 million in project financing following the execution of a definitive investment agreement earlier this week with strategic partner ITOCHU Corporation of Japan. In September 2014, Kaizen and ITOCHU will begin a two-year campaign to aggressively explore key targets at Kaizen's newly acquired Aspen Grove copper-gold porphyry project in southern British Columbia.
"It is a pleasure to welcome ITOCHU and its accomplished management team as our partner on the Aspen Grove Project," said B. Matthew Hornor, President and Chief Executive Officer of Kaizen.
"Their participation provides a strong endorsement of the project and complements the quality of our team. This is a highly attractive funding package that is well aligned with our development plans."
Kaizen's 2014-2015 exploration plans for the Aspen Grove Project include more than 10,000 metres of diamond drilling, including 2,000 metres at the advanced Par prospect, to be initiated in September 2014 in conjunction with an induced-polarization survey.
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 project's proximity to Vancouver, year-round road access, and on-site grid power will help enable Kaizen to efficiently test widespread copper mineralization that has been found in several targets.
About Kaizen Discovery
Kaizen is a Canadian technology-focused, mineral exploration company that was formed in late 2013 through a combination of Concordia Resource Corp. and assets acquired from HPX TechCo Inc., a 100%-owned subsidiary of High Power Exploration Inc. With its collaboration agreement with ITOCHU of Japan and access to HPX TechCo's proprietary geophysical technology, Kaizen's long-term growth strategy is to work with Japanese partners 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.
About ITOCHU
ITOCHU is one of the leading Japanese trading corporations, with approximately 130 bases in 66 countries. ITOCHU engages in domestic trading, import/export, and overseas trading of various products such as textile, machinery, metals, minerals, energy, chemicals, food, information and communications technology, realty, general products, insurance, logistics services, construction, and finance, as well as business investment in Japan and overseas.
More information on ITOCHU is available at www.itochu.co.jp/en.
Source: http://www.kaizendiscovery.com/