Drill programme to target three new prospects in Peru

Highlights:

• The Pinaya Project is accessible from the city of Arequipa via the paved all-weather Highway 30B, and then via the Tintaya Mine gravel access road.
• Drilling will test new priority targets at Pedro Dos Mil; and at Cerro Antaña and Viscachani, located adjacent to the existing Pinaya Mineral Resource.
• The Pinaya Mineral Resource comprises Measured and Indicated Resources totalling 41.7 million t grading 0.63% CuEq2 (0.32% copper and 0.49 g/t gold) and containing 135 000 t of copper and 656 000 oz of gold, plus 40.2 Mt of Inferred Resources grading 0.55% CuEq (0.36% copper and 0.30 g/t gold) and containing 145 000 t of copper and 388 000 oz of gold. Resources consist of skarn and porphyry-style mineralisation.

"Following the successful completion of all permitting requirements, and new land access and community agreements, we are at last beginning our long-awaited diamond drilling program at Pinaya. We believe there is significant potential to identify new zones of mineralisation to complement the existing Pinaya Mineral Resource," commented Eric Finlayson, Kaizen's interim CEO.

The Pinaya Project covers 192 km², including more than 25 km of underexplored strike length, within the Andahuaylas-Yauri Porphyry-Skarn Belt in Southeastern Peru. This Eocene-Oligocene aged belt hosts numerous productive copper-gold porphyry and skarn systems, including Las Bambas, Tintaya, Constancia, Haquira, and Antapaccay.

The approximately 46 500 m drilled to date at Pinaya have largely been limited to delineating mineral resources over just 1.7 km of strike in the central part of the property, and the last major drilling programme was completed in 2008. Since purchasing the property in 2015, Kaizen has conducted new surface mapping, reviewed existing geochemical and geophysical surveys and identified multiple untested targets outside the currently defined mineral resources, while securing the community and government permits required for the next round of drilling.

Diamond drilling to test three priority targets

The first 500 m of the 2020 diamond drill programme will target the previously-untested Pedro Dos Mil prospect, located just over 2 km due east of the current mineral resource.

Pedro Dos Mil is defined by an outcropping suite of granodiorite to quartz-diorite porphyries and associated breccias with potassic alteration; mineralised "A " - type porphyry veins with copper oxides after chalcopyrite; prominent soil copper and gold anomalies; as well as a ground-magnetic high and a chargeability anomaly.

The next 1000 m of diamond drilling will focus on the Cerro Antaña and Viscachani targets, identified following detailed surface mapping and re-logging of core drilled by previous operators.

The Cerro Antaña target is a conceptual unroofed porphyry below an outcropping advanced argillic lithocap. The partially-covered Viscachani target is defined by chargeability and magnetic anomalies potentially associated with a potassic-altered intrusive centre.

Based on the results received, Kaizen may look to expand the drilling programme.

Read the article online at: https://www.globalminingreview.com/exploration-development/17012020/drill-programme-to-target-three-new-prospects-in-peru/