Friedland-backed Kaizen reports “spectacular” copper grades in Canadian tundra
Mining legend Robert Friedland and his protege Matthew Hornor’s Kaizen Discovery (KZD:TSXV) continues to be one of the few extremely active junior resource companies. This morning Kaizen announced the sale of a non-core project and the preliminary exploration results from their newly acquired Coppermine project in Nunavut, Canada.
The results, although early-stage, are very promising.
In rock chip sampling across seven different site locations, assays as high as 23% copper were reported.
- 2.50 metres at 10.30% copper and 5.00 g/t silver
- 6.00 metres at 4.74% copper and 23.33 g/t silver
- 1.0 metres at 23% copper and 47 g/t silver
- 3.60 metres at 10.82% copper and 17.11 g/t silver
“These results confirm the spectacular high-grade nature of copper mineralization in the basalts of the Coppermine District. This type of mineralization was the focus of a major staking rush in the 1960s. Since then, there has been little systematic exploration in the area. We look forward to further exploration in this fascinating geologic environment, which hosts a large number of these high-grade occurrences,” said B. Matthew Hornor, Kaizen’s President and CEO.
On November 12th, Kaizen announced the acquisition of Tundra Copper, a small private company, for approximately $2.5 million in shares. In return, Kaizen gets a 310 square kilometre parcel of land that is highly prospective for high-grade copper. In that same announcement, Kaizen told investors that they had been busy ground staking an additional 3,320 square kilometres of land earlier this fall.
Exploration geologist and mining entrepreneur Rob McLeod cheered the acquisition on via Twitter:
Posted by Travis McPherson