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 the
completion of reverse circulation (“
RC”) infill
drilling program at the recently discovered southerly extension
(“
K.Hill Extension”) and provide an update on
corporate activities.
Highlights
- Infill drilling
at K.Hill Extension completed for a total of 4,561m with objective
of upgrading the majority of the current 3.1 million tonnes
(“Mt”) of Inferred Resources into Indicated
Resources.
- Additional
mineralization discovered along strike to the south of the K.Hill
Extension, where further drilling will be undertaken in the coming
weeks.
- Appointment of
Jacques du Toit as VP Technical Services, effective June 1,
previously Project Director for Tetra Tech Inc’s (“Tetra
Tech”) mining group in the UK and project manager for the
K.Hill Project.
- Meeting with
President of Botswana and site visit to K.Hill Project by major
European battery manufacturer.
K.Hill Extension Infill
Drilling
The infill RC drilling program at K.Hill
Extension, which commenced in February 2022, has been completed. A
total of 4,561m have been drilled across 54 holes (including three
re-drills) on an approximate 75 x 75m grid spacing to determine the
correlation between the southern mineralized horizons and the
northern resource horizons to establish continuity in order to
convert the majority of Inferred Resources in the K.Hill Extension
to Indicated Resources.
The drilling program also extended along strike
into a previously untested section to the south of the identified
zones and confirmed the presence of further mineralization and the
potential to add tonnage to the existing resource. An additional 19
holes were planned for this section, eleven of which have already
been completed for 730m, two are in progress and the remaining six
will be drilled in the coming weeks.
A further ten diamond drill holes across the K.
Hill Extension area will be drilled at pre-selected locations. The
diamond drill holes will be drilled as twin holes to certain RC
holes and will be used to confirm the results from the RC campaign
as well as for geotechnical, geochemical and metallurgical
studies.
Assaying will shortly commence for the RC drill
collars and once the the full set of drill holes has been assayed
the results will be sent to SRK Consulting for updated resource
estimation and, thereafter, the Company would anticipate the
completion of an updated Mineral Resource Estimate for the K.Hill
Project.
Appointment of VP Technical
Services
As the Company seeks to develop its specialist
technical expertise, it has appointed Mr. Jacques du Toit as VP
Technical Services. Mr du Toit was formerly Tetra Tech's project
manager for the K.Hill Project and has elected to join the Giyani
team as the Company finalises the feasibility study for the K.Hill
Project, currently scheduled for release in Q3 2022.
Mr du Toit is a professional project manager and
engineer and has over 20 years’ experience in mining project
development worldwide. He has previously worked for Bateman
Engineering, BHP Billiton Limited, Paterson and Cooke and Tetra
Tech and has joined the Company as a member of the senior
management team effective June 1, 2022.
Site Visit to K.Hill
Project
Earlier this month, the Company attended the
Cape Town Mining Indaba and was invited to a special audience with
the President of Botswana, His Excellency Mokgweetsi Masisi. The
President drew attention to the K.Hill Project and Giyani’s plan to
produce a critical battery material in country.
Giyani then hosted a visit to the K.Hill Project
for a number of financial institutions and a major European battery
manufacturer. The visit was also attended by the Honourable Dr.
Lemogang Kwape, the MP for Kanye South and Minister of
International Affairs and Cooperation, who spoke of the strong
local support for Giyani and the K.Hill Project.
Robin Birchall, CEO of the Company,
commented:
“The K.Hill orebody
continues to deliver excellent results and we are very pleased not
only to complete the infill portion of our RC drill program within
budget but to confirm that the mineralization continues to the
south. In a little over a year, our exploration successes have
upgraded a 1.7Mt Inferred Resource for the K.Hill Project into
2.1Mt of Indicated and 3.1Mt of Inferred Resources and we are
expectant that the results of this infill program will increase the
Indicated Resource further.
Giyani’s core
objective is to be a responsible low carbon and sustainable
producer of high purity manganese sulphate monohydrate
(“HPMSM”) and play a key role in the future of the
electric vehicle market and so we were delighted to have recently
hosted a major European battery manufacturer on a site visit to our
K.Hill Project and tour of local infrastructure. A highlight of the
tour was the visit of Minister Kwape, who stressed the importance
of the project to the local region and his support for Giyani,
which followed a very positive meeting with His Excellency
President Masisi in Cape Town. Greater exposure to critical
minerals and more local, high-value beneficiation are key themes of
the President’s mining policy and so Giyani is setting an example
of how Botswana can achieve both.
Meanwhile Jacques’
appointment as VP Technical Services is the latest in a number of
new additions to our team in recent months, but holds a special
significance. Having worked on the K.Hill Project for almost three
years on behalf of Tetra Tech, his decision to join our in-house
team is a major endorsement of Giyani’s achievements and his years
of mining project delivery experience will be invaluable as we exit
the study phase and move towards construction.”
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 directly from manganese
oxide ore, used by battery manufacturers for the expanding EV
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 Metals (Pty) Limited. The Company’s Kanye Basin
Prospects consist of 10 prospecting licences 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. An updated 43-101 technical report on the
K.Hill Project is available on www.sedar.com and on the Company’s
website at www.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.
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 licences and permits; risks
related to the Company’s business being subject to environmental
laws and regulations; risks related to the Company’s 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 the Company is a
party; ability to recruit and retain qualified personnel; and risks
related to the Company’s 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 the Company’s
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 latest Annual
Information Form, which is filed on SEDAR at www.sedar.com.
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