Kaizen Discovery has announced the completion of all permitting requirements at its 100% owned Pinaya Copper Gold Project in Peru.

The company has also executed new land access and community agreements with the Pinaya community.

Kaizen said that it has served notice to various government regulators of its intention to start the 2019 Pinaya resource expansion and target testing drill program.

The Pinaya Copper Gold Project is located in southeastern Peru, approximately 150km northeast of the city of Arequipa.

The project lies within the Andahuaylas-Yauri Porphyry Belt, which hosts numerous porphyry and skarn systems, including Las Bambas, Tintaya, Constancia and Haquira.

The 2019 drilling program is expected to be focused on the Pinaya Mineral Resource area where Kaizen has identified compelling resource expansion opportunities along strike to the north, at Cerro Antana, and to the south, at Viscachani, of the defined Mineral Resource area.

The company has planned additional drilling to test the new Pedro Dos Mil target, where it has completed mapping and identified outcropping potassic-altered quartz diorite porphyry carrying chalcopyrite-bearing, early-stage “A” type veining.

Kaizen president and chief executive officer Tom Peregoodoff said: “We are extremely pleased to have successfully completed the rigorous permitting process and to have executed new land access and community agreements with the community of Pinaya.

“Our focused 2019 drill program is designed to expand the known mineral resources as well as to test the exciting new outcropping Pedro Dos Mil target discovered by our team.”

According to Kaizen, Pinaya project hosts mineral resources within three contiguous zones over a 1.7km strike in the central part of the property.

The measured and indicated resource estimate accounts for 41.7 million tonnes grading 0.32% copper and 0.49grams/tonnes (g/t) gold, comprising 298 million pounds of copper and 656,000ounces of gold.

Kaizen is also undertaking a private placement of up to CAD2.5m (£1.5m) and the proceeds will be used to fund the planned exploration drilling program at the Pinaya Project, to identify and review new project opportunities, and for general administrative expenses.