Kaizen Discovery, Inc. and AM Gold, Inc. recently entered into a definitive acquisition agreement that will give Kaizen 100 percent ownership of the Pinaya Copper-Gold Project in the Peruvian provinces of Caylloma and Lampa.
The Pinaya Project covers 74 square miles and includes more than 15 miles of strike length in the emerging Andahuaylas-Yauri Porphyry Belt in southeastern Peru. The belt is known to be particularly productive.
"The planned acquisition of the Pinaya Project is a major step forward for Kaizen on its growth path of assembling a diversified portfolio of high-quality mineral projects in the Americas and the Pacific Rim," Kaizen's President and CEO B. Matthew Hornor said. "Given the size and quality of the resource delineated at Pinaya, and the significant potential to discover additional mineralized systems, we expect our acquisition of the project will gain the support of Kaizen's strategic Japanese financing partners in furthering the pursuit of Kaizen's long-term objective of delivering key minerals to Japan's industrial sector."
Although previous drilling on the property was focused on defining the current resources, Kaizen believes additional mineralized systems exist within the property and plans to do additional exploration.
The transaction is expected to close in early September, subject to receiving required approvals.
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