Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8)
("
Giyani" or the "
Company") is
pleased to announce the first set of assay results from the RC
infill drilling program (“
K.Hill Infill Drilling
Program”), a new planned exploration program
(“
Step-out Exploration Program”), and the
appointment of an additional drilling contractor at the K.Hill
manganese project (
“K.Hill”) in South Eastern
Botswana.
Update to K.Hill Infill Drilling
Program
The K.Hill Infill Drilling Program is designed
to upgrade the current Inferred Mineral Resource to an Indicated
Mineral Resource in order to achieve the Mineral Reserve status
required in the ongoing feasibility study, expected later this
year. Since the program commenced in November 2020, there have been
some border logistics and administrative delays related to Covid-19
in Botswana. The program has, nonetheless, advanced and is now
expected to be completed next month. Noticeable intercepts are as
follows:
From 15m |
4.0m @ 29.7% MnO (including 1.0m
at 41.5% MnO) |
From 18m |
3.0m @ 30.8% MnO (including 1.5m
at 35.1% MnO) |
For more information see Appendix
1.
Step-out Exploration
Program
Upon completion of the K.Hill Infill Drilling
Program, the Company will step-out to the south of the K.Hill
deposit, with a new exploration drilling program. The program will
target a geophysical signature, which extends southwards from the
existing K.Hill Mineral Resource. This signature is a continuation
of the gravity contrasts observed at K.Hill.
The planned Step-out Exploration Program
consists of 1,600m of RC drilling over 32 holes. It is expected to
be completed within two months of the conclusion of the K.Hill
Infill Drilling Program, subject to no additional Covid-19
restrictions. Drill spacings will be approximately 100m.
For more information see Appendix
2.
Appointment of Additional Drilling
Contractor
The Company has appointed RotsDrill Explorations
(“RotsDrill”), a local Botswana-based drilling services provider to
assist Stewardship Drilling (“Stewardship”) with the completion of
the K.Hill Infill Drilling Program, as well as the Step-out
Exploration Program. In addition, RotsDrill will be responsible for
the drilling of diamond drilling holes, which will be logged and
sampled for geotechnical work and communition testing as part of
the ongoing feasibility study at K.Hill.
The drilling contractor will be supported by the
Company’s project management and geological services consulting
company, Lambda Tau Botswana.
Robin Birchall, CEO of the Company
commented:
"The first batch of near-surface results
continue to build momentum at K.Hill as we work towards completion
of the ongoing feasibility study and the future transition to
project construction. Not only are these results in line with
previous drilling results, but we can now look to extend the
near-surface mineralization through a new Step-out Exploration
Program, which is the first in a number of resource expansion
programs we have planned for 2021. We expect to announce the
commencement of the Otse campaign in due course.
One of our priorities this year is extending the
project life at K.Hill. Given some of the Covid-19 related delays
we have experienced with our current drilling contractor, we
decided to appoint locally-based RotsDrill. Working with
Stewardship, we aim to speed up the completion of the K.Hill
program, and then start on the Step-Out Exploration Program as soon
as possible. As RotsDrill’s equipment and labour are locally
sourced in Botswana, their appointment should significantly
mitigate any additional unforeseen Covid-19 related disruptions
going forward. In addition, the team at RotsDrill are familiar with
K.Hill, as they were appointed by the Company for the original
drill program two years ago.”
Appendix 1 – K.Hill Infill Drilling
Program
Procedural Summary
Drilling is conducted with a 127mm diameter
Reverse Circulation bit. The primary sample is collected from the
cyclone into a 50kg sample bag at 0.5m intervals. The primary
sample is then split with a three-tier riffle splitter into a 3-5kg
sub sample. The sub-sample is analysed on site by a portable X-ray
Fluorescence analyser (XRF) to determine the mineralized interval.
The mineralized interval is sampled together with 2m shoulder
samples and QA/QC samples. These samples are then bagged in batches
of 10 samples per polypropylene bag, marked and sealed with single
use ties. The polypropylene bags are shipped for geochemical
analysis by XRF after Borate Fusion, at SGS Laboratories in
Randfontein, South Africa.
Sample preparation and analysis is completed as
per the standard ISO:9001 complaint XRF76C whole rock analysis
sample preparation and analysis technique, offered by SGS
Laboratories. Elements are reported as Total Oxides.
Significant Intersections
|
|
|
|
|
Hole number |
Intercept |
Grade MnO |
From Depth |
Comments |
RCKH20_001 |
3.0m |
21.2 |
% |
6m |
|
RCKH20_003 |
3.0m |
33.0 |
% |
15m |
(including 1.0m at 42.4% MnO) |
RCKH20_005 |
3.0m |
27.5 |
% |
13 |
(including 1.5m at 36.8% MnO) |
RCKH20_007 |
5.0m |
23.9 |
% |
8m |
(including 0.5m at 43.9% MnO) |
RCKH20_008 |
2.0m |
26.5 |
% |
16m |
|
RCKH20_010 |
4.0m |
29.7 |
% |
15m |
(including 1.0m at 41.5% MnO) |
RCKH20_011 |
3.0m |
30.8 |
% |
18m |
(including 1.5m at 35.1% MnO) |
Figure 1. Map showing progress of drilling as of
8 February, 2021
https://www.globenewswire.com/NewsRoom/AttachmentNg/bc93a952-9c70-4ec4-84b1-ae3c7b621679
Drilling Highlights
Holes completed: |
38 (42% program completion) |
Meters completed: |
1,237.5m |
Holes sampled: |
38 |
Samples* collected: |
1,174 (incl. QA/QC samples) |
Samples* submitted for analysis: |
736 |
Results received from SGS: |
368 |
*RC samples are taken
in 0.5m intervals
Appendix 2 – Step-out Exploration
Program
Figure 2. Map of the geophysical signature
overlaid with the planned 32 holes for the Step-out Exploration
Drilling Program.
https://www.globenewswire.com/NewsRoom/AttachmentNg/3485b5d5-05c6-495a-92a9-72586b9ebc81
The map shows the planned drill locations (white
stars) against the backdrop of the Residual filtered Bouguer
Anomaly image taken from the ground gravity survey in 2018.
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 RotsDrill
ExplorationsRotsDrill Explorations is a Botswana based
drilling services provider with 15 years’ operational experience in
Botswana. The company has a strong track record of delivering
services to some of the country’s biggest mining operations,
including Debswana.
About Lambda TauLambda 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
About StewardshipStewardship
Drilling is a Namibia-based drilling contractor, with a portfolio
of experience working across Sub-Saharan Africa for clients such as
Rio Tinto, De Beers, and the Paladin Group. . NI 43-101
Disclosures
Mr. Luhann Theron,
MSc., Pr.Sci.Nat. 400184/15 of Lambda Tau last visited the site in
December 2020 and is a qualified person, as defined by National
Instrument 43-101. Mr. Theron 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
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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