Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8)
("
Giyani" or the "
Company") is
pleased to provide an operations and corporate update for its
K.Hill Manganese Project (“K.Hill”) in Southern Botswana.
Robin Birchall, CEO of the Company
commented:
"We are very pleased to bring the market up to
date on a number of operational and corporate activities.
Concurrent to the ongoing K.Hill feasibility study, which is
expected later this year, we are working on a further revision to
the PEA. This updated version contains a modified, simpler
processing strategy to produce HPMSM, rather than HPEMM as per the
current PEA. The updated strategy is an end-market driven decision,
which we believe is a positive development for K.Hill.
We are also very happy with the results of the
work conducted by Terravision at K.Hill and also the
proof-of-concept study carried out at the Otse prospect.”
Update on K.Hill Studies
Concurrent to the ongoing feasibility study
(“FS”), expected later this year, the Company is currently
undertaking an update of the K.Hill preliminary economic assessment
(PEA) to produce High Purity Manganese Sulphate Monohydrate
(HPMSM), rather than High Purity Electrolytic Manganese Metal
(HPEMM). The updated PEA released on 28 April 2020 (“2020 PEA”),
assumed 100% production of HPEMM. The reason for the change is
following feedback from independent market research, supported by
direct discussions with potential end buyers. They have indicated
that as the high purity manganese market grows, due to greater
electric vehicle adoption, demand growth will be heavily skewed
towards HPMSM. The revised PEA will also include an updated Mineral
Resource estimate, following the ongoing drilling work completed to
date and the results from an enhanced ground penetrating radar
(“GPRplus™”) survey.
Ground Penetrating Radar Geophysical
Survey Complete
In Q4 2020, the Company appointed Terravision
Intelligent Exploration (“Terravision”) to conduct a
GPRplus™ survey. The survey was used to quantify the extent of
historically mined artisanal tunnels (“Historical Tunnels”) at
K.Hill. This information is required for the K.Hill geological
block model to determine the depletion factor to the Mineral
Resource estimate.
In addition, Terravision conducted a
proof-of-concept study on Giyani’s Otse prospect, using
GPRplus™ as a low cost, rapid-feedback exploration tool. This
is because the near-surface manganese oxide mineralization at Otse,
unlike that of K.Hill, occurs in high grade pods. The results from
the proof-of-concept study at Otse clearly identified the density
differences between the mineralisation and the lower density host
rock. Following these positive results, the Company plans to
initiate a GPRplus™ survey across the wider Otse prospect
area. The results of this survey will be used to better inform the
forthcoming drill program planned for Otse. The Company will update
the market on this in due course.
Appointment of Hydrometallurgical
Laboratory
The Company has appointed both Mintek and Vietti
Slurrytec to conduct hydrometallurgical (“Hydromet”) laboratory
work, pursuant to the FS workstreams. The samples for the Hydromet
work were drilled in Q4 2020 during the K.Hill infill drilling
program. All samples have been bagged and shipped to Mintek in
Johannesburg, South Africa. Mintek will cover all stages of the
Hydromet work, except for the solid-liquid separation analysis,
which will be conducted by Vietti Slurrytec. Completion of both
workstreams is expected in Q2 2021.
Dataroom Access
Pursuant to seeking project financing in due
course, the Company has signed an NDA with a large global
commercial lending bank institution which is currently accessing
the Company’s dataroom.
Update on Rock Island Sale
As previously announced in relation to the
Company’s disposal of its non-core gold assets in South Africa,
Giyani agreed to acquire all of the shares it did not own in
Lexshell 837 (Pty) Ltd. in order to consolidate 100% ownership in
that company. The final installment of 832,666 common shares of
Giyani was conditional on the completion of the sale of its South
African gold assets to Corridor Mining Resources Proprietary
Limited (“CMR”), which has not yet been completed. As that sale
remains pending, Giyani and the Lexshell vendor have agreed to
complete the Lexshell sale for a cash consideration of C$45,000 as
a full and final settlement in lieu of the issuance of Giyani
common shares.
Giyani continues to pursue the outstanding ZAR6,370,031 owed to
the Company by CMR, of which ZAR300,000 has been received so far in
staged payments.
About GiyaniGiyani Metals Corp.
is a mineral resource company focused on the development of its
K.Hill, Lobatse & Otse manganese oxide projects in the Kanye
Basin, Botswana, Africa. The Company's flagship K.Hill Manganese
Project is a near-surface deposit currently going through a
feasibility study to produce high-purity electrolytic manganese
metal and manganese sulphate, both key cathode ingredients for
batteries in the expanding electric vehicle (EV) market.]
Additional information and corporate documents
may be found on www.sedar.com and on Giyani Metals Corp. Website:
https://giyanimetals.com/.
About TerravisionTerravision
Intelligent Exploration is a UK based private exploration services
company, who is a leader in the use of enhanced ground penetrating
radar, known as GPRplus™, in mineral exploration. GPRplus™ is a
ground-scanning device, which verifies and investigates the
presence of mineral resources and geological features, by detecting
differences in ground density, up to a depth of 200m. For more
information visit https://www.terravisionradar.com/mining
About MintekMintek is South
Africa’s national mineral research organisation and is one of the
world’s leading specialists in mineral processing, extractive
metallurgy, and related areas. Mintek works closely with industry
and other R&D institutions and provides service testwork,
process development and optimisation, consulting and innovative
products to clients worldwide. For more information visit
https://www.mintek.co.za
About Vietti
SlurryTecVietti
Slurrytec are metallurgical specialists in dewatering and
separation of clay containing slurries. For over 25 years, the
company has worked to provide suitable process design and control
philosophy to improve process efficiency and lower operation costs
for its clients. For more information visit
https://www.viettislurrytec.com/
On behalf of the Board of Directors of Giyani
Metals Corp.
Robin Birchall, CEO
Contact:Robin Birchall CEO, Director+44 7711
313019rbirchall@giyanimetals.com
Thomas HortonVP, Business Development+44 7866
913207thorton@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 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 financial
statements and related MD&A, all of which are filed on SEDAR at
www.sedar.com.
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