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Kaizen withdraws from Fairholme gold JV with Clancy

ClancyExploration Ltd. said March 29 that is withdrawingfrom the Fairholmejoint venture in New South Wales, Australia, effective April 22.

Kaizen had earned a 49% interest in the Fairholme goldproject — which consists of two tenements, EL6552 and EL6915 — and wasextending this to a 65% interest by funding ongoing exploration.

Ownership of Fairholme will fully revert to Clancy once thewithdrawal takes effect.

Clancy said that it will seek a new partner for Fairholme.