Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8)
("
Giyani" or the "
Company"),
developer of the K.Hill manganese oxide project (“
K.Hill
Project”) in Botswana, is pleased to announce progress on
its demonstration plant (“
Demo Plant”) and
feasibility study (“
FS”) for the K.Hill Project,
and on exploration and corporate activities.
Highlights
- Order placed for
first long-lead item for the construction of the Demo Plant,
designed to produce high purity manganese sulphate monohydrate
(“HPMSM”) crystals for delivery to potential
battery materials customers for product qualification.
- Plant design and
process flowsheet under final review, allowing project parameters
to be finalized for completion of the FS.
- Infill drilling
at southerly extension of the K.Hill Project (“K.Hill
Extension”) ongoing with 18 reverse circulation
(“RC”) drill holes completed.
- Appointment of
VP Project Development & Construction and new Country Manager,
Botswana.
Demo Plant and FS Update
With the design of the process flowsheet under
final review, the Company has placed an order for one crystalliser
unit of the Demo Plant. The crystalliser unit is the largest and
longest lead item of the Demo Plant and delivery of the unit is
currently scheduled for Q4 2022. Construction and commissioning of
the Demo Plant will be undertaken in South Africa before it will be
transported to the K.Hill Project site in Botswana. First shipment
of product samples to potential customers is now anticipated in
2023.
The Demo Plant development has three key
objectives: to demonstrate that the HPMSM product specifications
can be achieved based on the process flowsheet developed for the
K.Hill Project; to provide product samples to potential buyers for
their supply chain testing and product qualification process; and
to de-risk the commercial plant development by using the Demo Plant
for optimisation of the ongoing process engineering work and as a
training facility.
By focusing on achievement of the highest
possible HPMSM product specifications, Giyani can establish itself
as a premium supplier to the growing battery market. Once
commissioned, the Demo Plant will be capable of producing
approximately 600kg per day of HPMSM crystals for delivery to
potential customers for product testing.
The Company now has the confidence in the
metallurgical testwork completed to date and the stage of
development of the process flowsheet, to allow its engineering
consultants to be able to move towards completion and publication
of the FS. The confirmation of plant design will allow project
parameters to be settled, including operating and capital
expenditure, and the Company is optimistic that the FS can be
released in Q3 2022.
K.Hill Extension
To date, 18 RC drill holes have been completed
as part of the infill drilling program at K.Hill Extension for a
total of 1,690 m. The total program is expected to be approximately
55 RC drill holes and 10 diamond drill core holes for a total of
approximately 7,150 m of drilling.
The objective of the program is to determine the
correlation between the southern mineralized horizons and the
northern resource horizons and to convert the majority of Inferred
Resources in the K.Hill Extension to Indicated Resources. These
Indicated Resources could be incorporated into an optimised mine
development plan for the K.Hill Project.
Appointment of VP Project Development
& Construction and Country Manager, Botswana
As the Company is already planning the
construction phase for the K.Hill Project, it has appointed Mr.
Dirk Geerligs as VP Project Development & Construction. Mr
Geerligs is a civil engineer and has over 20 years’ experience in
construction and project delivery of mining and industrial projects
globally. He has been a consultant to Giyani since May 2021 and
will join the Company on a full-time basis effective April 4,
2022.
As the Company expands its footprint in Botswana
it has taken the opportunity to appoint a full time country manager
to direct its activities and expanding employee base in country.
Elisa Davis, a Botswana national and a geology graduate from
University of Leicester in the United Kingdom, with mining and
operational experience both nationally and internationally, will
join the Company on a full-time basis effective April 19, 2022.
Robin Birchall, CEO of the Company,
commented:
“Thanks to the
tireless efforts of our technical team and project consultants, our
work on the process flowsheet is nearly complete and so we can move
ahead at pace with both the Demo Plant and the FS. The Company is
currently working with multiple potential buyers, who have
expressed a desire to receive samples as soon as available and our
confidence in the metallurgical testwork to date is such that we
have made a commitment to construction of the Demo Plant prior to
final flowsheet review.
With the plant design
at finalization, we are able to complete the last outstanding
technical and economic components of the FS. It has been a
meticulous process, demonstrating the high barriers to entry that
exist to producing a high purity battery-grade chemical from
manganese ore, but we are fully focused on completion and release
of the study as soon as possible. In parallel, our work on the
ground is aiming to grow the project through further delineation of
both K.Hill Extension and our Otse prospect.
As we move towards
breaking ground on the K.Hill Project, we are delighted to bring
Dirk and Elisa into the Giyani management team. Dirk has been a
consultant for Giyani for some time, but his skills have become
essential as we advance towards engineering, permitting and
construction. Elisa’s expertise will enhance the Company’s
in-country capabilities as it continues to engage with state and
local government, agencies and other stakeholders to permit and
construct a mine at K.Hill.”
About Giyani
Giyani is a mineral resource company focused on
becoming one of Africa’s first low-carbon producers of high-purity
manganese sulphate precursor materials, used by battery
manufacturers for the expanding electric vehicle market, through
the advancement of its manganese assets in the Kanye Basin in
south-eastern Botswana, (the “Kanye Basin
Prospects”) through its wholly-owned Botswana subsidiary
Menzi Battery (Pty) Limited. The Company’s Kanye Basin Prospects
consist of 10 prospecting licenses and include the past producing
Kgwakgwe Hill mine and project, referred to as the K.Hill Project,
the Otse manganese prospect and the Lobatse manganese prospect,
both of which have seen historical mining activities.
The Company is currently undertaking a
feasibility study on the K.Hill Project, following an updated
preliminary assessment report announced on April 12, 2021 with a
post-tax NPV of USD332 million and post-tax IRR of 80%, based on a
development plan to produce around 891,000 tonnes of HPMSM over a
10 year project life.
The Company will publish its year end 2021
audited Financial Statements, 2021 Annual Information Form and
updated 43-101 Technical Report on www.sedar.com during the course
of this week. Additional information and corporate documents may be
found on www.sedar.com and on Giyani Metals Corp. website at
https://giyanimetals.com/.
Qualified Persons / NI 43-101
Disclosures
Mr. Luhann Theron, MSc., Pr.Sci.Nat. 400184/15,
of Lambda Tau is registered with the SACNASP. Mr. Theron is
currently at site and is a qualified person, as defined by National
Instrument 43-101. Mr. Theron is the Chief Geologist for the
Company and has reviewed and approved the scientific and technical
content contained in this press release but is not independent for
the purposes of NI 43-101.
About Lambda Tau
Lambda Tau Botswana is a locally based
geological services and exploration consulting services provider,
offering services across Southern Africa. For more information
visit https://www.lambdatau.co.za.
On behalf of the Board of Directors of Giyani
Metals Corp.
Robin Birchall, CEO
Contact:
Robin Birchall CEO, Director+44 7711
313019rbirchall@giyanimetals.com
George DonneVP
Business Development+44 7866 591 897gdonne@giyanimetals.com
Judith
WebsterCorporate Secretary +1 416 453 8818
jwebster@giyanimetals.com
Neither the TSX Venture Exchange (the "TSXV")
nor its Regulation Services Provider (as that term is defined in
the policies of the TSXV) accepts responsibility for the adequacy
or accuracy of this news release.
The securities described herein have not been
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any state securities laws,
and accordingly, may not be offered or sold to, or for the account
or benefit of, persons in the United States or "U.S. persons," as
such term is defined in Regulation S promulgated under the U.S.
Securities Act ("U.S. Persons"), except in compliance with the
registration requirements of the U.S. Securities Act and applicable
state securities requirements or pursuant to exemptions therefrom.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any of the Company's securities to,
or for the account of benefit of, persons in the United States or
U.S. Persons.
Forward Looking Information
This press release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation. All statements in this news release, other than
statements of historical fact, that address events or developments
that Giyani expects to occur, are "forward-looking statements".
Forward-looking statements are statements that are not historical
facts and are generally, but not always, identified by the words
"expects", "does not expect", "plans", "anticipates", "does not
anticipate", "believes", "intends", "estimates", "projects",
"potential", "scheduled", "forecast", "budget" and similar
expressions, or that events or conditions "will", "would", "may",
"could", "should" or "might" occur. Specific forward-looking
statements and forward-looking information herein includes
completion of receipt of TSXV approval for the private placement
and completion of the private placement.
All such forward-looking statements are based on
the opinions and estimates of the relevant management as of the
date such statements are made and are subject to certain
assumptions, important risk factors and uncertainties, many of
which are beyond Giyani's ability to control or predict.
Forward-looking statements are necessarily based on estimates and
assumptions that are inherently subject to known and unknown risks,
uncertainties and other factors that may cause actual results,
level of activity, performance or achievements to be materially
different from those expressed or implied by such forward-looking
statements. In the case of Giyani, these facts include their
anticipated operations in future periods, planned exploration and
development of its properties, and plans related to its business
and other matters that may occur in the future. This information
relates to analyses and other information that is based on
expectations of future performance and planned work programs.
Forward-looking information is subject to a
variety of known and unknown risks, uncertainties and other factors
which could cause actual events or results to differ from those
expressed or implied by the forward-looking information, including,
without limitation: inherent exploration hazards and risks; risks
related to exploration and development of natural resource
properties; uncertainty in Giyani's ability to obtain funding;
commodity price fluctuations; recent market events and conditions;
risks related to the uncertainty of mineral resource calculations
and the inclusion of inferred mineral resources in economic
estimation; risks in how the world-wide economic and social impact
of COVID-19 is managed; risks related to governmental regulations;
risks related to obtaining necessary licenses and permits; risks
related to their business being subject to environmental laws and
regulations; risks related to their mineral properties being
subject to prior unregistered agreements, transfers, or claims and
other defects in title; risks relating to competition from larger
companies with greater financial and technical resources; risks
relating to the inability to meet financial obligations under
agreements to which they are a party; ability to recruit and retain
qualified personnel; and risks related to their directors and
officers becoming associated with other natural resource companies
which may give rise to conflicts of interests. This list is not
exhaustive of the factors that may affect Giyani's forward-looking
information. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described in the
forward-looking information or statements.
Giyani's forward-looking information is based on
the reasonable beliefs, expectations and opinions of their
respective management on the date the statements are made, and
Giyani does not assume any obligation to update forward looking
information if circumstances or management's beliefs, expectations
or opinions change, except as required by law. For the reasons set
forth above, investors should not place undue reliance on
forward-looking information. For a complete discussion with respect
to Giyani and risks associated with forward-looking information and
forward-looking statements, please refer to Giyani's Annual
Information Form, all of which are filed on SEDAR at
www.sedar.com.
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