Kaizen plans to use its proprietary Typhoon IP technology to generate more world-class targets (Image: Kaizen Discovery)

Kaizen plans to use its proprietary Typhoon IP technology to generate more world-class targets (Image: Kaizen Discovery)

Kaizen Discovery (KZD:TSXV) has closed its initial 49% earn-in for the Fairholme copper-gold porphyry exploration project in central New South Wales, Australia (Clancy Exploration owns remaining 51%).   The Fairholme project is located on the Fairholme Igneous Complex.  The company can earn up to 65% in the project by spending $4 million on the ground over the next two years.  Depending on those results, they can earn up to 95% by completing several staged developments and delivering a feasibility study.

According to the company, the Fairholme project is highlighted by three prospects; Boundary, Dungarvan and Gateway, which are all located within one high-priority target area.  This target hosts basement copper-gold-molybdenum anomalies.  The company’s website claims they are of the size and scale that would put them in a similar category to the footprint of several world-class porphyry copper deposits; including Alumbrera.

With HPX TechCo and Clancy, the project had an IP survey completed on a 74 square-kilometer area.  This was done using HPX TechCo’s patented deep “Typhoon IP” technology which was used to discover the Oyu Tolgoi deposit in Mongolia, now under the umbrella of Turquoise Hill (TRQ:TSX) and Rio Tinto.  According to the company, they began drilling in December at Fairholme, so results should be expected within the first quarter.

The new company with its new management team, led by Matthew Hornor (the guy behind the $300 million investment by the Japanese consortium into Ivanplats Flatreef project), has $10 million in cash with access to an additional $5 million.

Robert Friedland, the resource mogul and billionaire, owns roughly 42.5% of Kaizen stock through his 50% ownership in HPX TechCo (private).

Read: Kaizen Discovery Completes Earn-in of an Initial 49% Interest in the Fairholme Copper-Gold Project in Australia

Related: Friedland Protégé Matthew Hornor Launches KZD – Kaizen Discovery