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Kaizen Discovery Inc (2)
Symbol KZD
Shares Issued 65,828,426
Close 2022-09-30 C$ 0.13
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Kaizen Discovery outlines seven drill targets at Pinaya

2022-10-03 12:45 ET - News Release

Mr. Eric Finlayson reports

KAIZEN DISCOVERY IDENTIFIES LARGE NEW DRILL TARGETS FROM THE INDUCED POLARIZATION AND RESISTIVITY SURVEY COMPLETED AT ITS 100%-OWNED PINAYA COPPER-GOLD PROJECT IN PERU

Kaizen Discovery Inc. has released positive results from the recently completed 92-square-kilometre induced polarization (IP) and resistivity survey at the 100-per-cent-owned Pinaya copper-gold project, located in the Andahuaylas-Yauri porphyry skarn belt in southeastern Peru. This belt contains some of the world's largest recent copper mine developments.

Highlights:

Seven chargeability anomalies potentially indicative of sulphide mineralization identified for drill testing.

Four anomalies lying to the west of the fault bounding the current Pinaya Mineral Resource1 may be porphyry sources of the Pinaya mineralization.

Three anomalies lying several kilometres to the east may represent a separate copper-gold system.

Application for diamond drill permits (Declaracion de Impacto Ambiental or "DIA") is underway.

"We are encouraged by the positive results received from this IP-resistivity survey, which confirmed the potential to identify significant new zones of porphyry copper-gold mineralization at Pinaya," said Eric Finlayson, Interim President and Chief Executive Officer of Kaizen.

92 km2 IP-resistivity survey identifies multiple drill targets.

The Pinaya Mineral Resource1 is associated with an intrusive complex of Oligocene-age granodiorite porphyry sills and dikes emplaced into Eocene sedimentary rocks of the Puno Group. A 10 km-long zone of hydrothermal alteration affects the Puno Group rocks.

The IP-resistivity survey tested the entire 10 km-long hydrothermal system, exploring for deep porphyry potential beneath the Puno Group rocks and also beneath Miocene post-mineral cover rocks faulted against the Puno Group to the west (refer to Kaizen's news release dated March 10, 2022).

The survey identified four large chargeability anomalies lying within a northwest-southeast corridor beneath Miocene post-mineral cover (Targets 1 to 4 in Figure 1). These targets, which likely reflect sulphide-bearing rock, are located to the west of the known fault that truncates the Pinaya Mineral Resource[1] on its western side and could represent Oligocene porphyry intrusions that sourced the Pinaya mineralization.

Three chargeability anomalies lying several kilometres east of the Pinaya Mineral Resource1 (Targets 5 to 7 in Figure 1) may be part of a separate mineral system. All seven chargeability targets will be drilled once permits are received.

About Kaizen

Kaizen is a Canadian mineral exploration and development company with exploration projects in Peru and Canada. More information on Kaizen is available at www.kaizendiscovery.com.

Qualified Person

Kaizen's Chief Operating Officer, Mark Gibson, P.Geo. is a Qualified Person as defined under NI 43-101 who has reviewed, approved and is responsible for the scientific and technical information presented in this news release. Mr. Gibson is the Chief Operating Officer of Ivanhoe Electric Inc. ("IE"). IE is the sole shareholder of Kaizen's majority shareholder, Ivanhoe Electric (BVI) Inc. Mr. Gibson verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained therein.

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