Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8)
("
Giyani" or the "
Company") is
pleased to announce the appointment of Mr. Eugene Lee as Chief
Financial Officer (“
CFO”) replacing Omar Gonzalez,
senior employee of Marrelli Support Services Inc.
(“
Marrelli Services”), effective April 20, 2021.
In addition, the Company is pleased to announce the completion of
the K.Hill manganese project (“
K.Hill”) reserve
infill drilling program and the commencement of the 2021
exploration program at the Company’s Otse prospect
(“
Otse”), both located in close proximity in South
Eastern Botswana.
Highlights
- K.Hill reserve
infill drilling now completed, consisting of 89 holes totalling
3,310.5 m;
- To date, a total
of 2,586 samples (inclusive of QA/QC samples) have been collected
from 69 holes and 837 final assay results have been received from
SGS;
- The first of the
2021 exploration programs at K.Hill will commence in early April;
and a Ground Penetrating Radar (“GPR”) geophysics
program is planned for Otse at the same time.
Robin Birchall, CEO of the Company,
commented:
“We are very pleased
and excited to have Eugene join our team as CFO. Eugene brings a
strong background in international metals marketing, financial
reporting and corporate governance and will be an asset to the
Company at this important juncture.
I am also delighted to
announce the completion of the reserve drilling campaign. This
allows us to commence resource extension drilling activities at
K.Hill and the 2021 exploration program at Otse. With the
completion of the reserve drilling, we will swiftly move forward
with the resource engineers to compile our maiden reserve. To date,
the results of the drilling campaign have validated our prior work
and existing resource model. We look forward to the exploration
program both at K. Hill and Otse in the near future.
This latest
appointment of CFO, combined with the recent appointment of a new
COO, give the Company added momentum and expertise as we advance
K.Hill towards its next phase of development and ultimately
production.”
“On behalf of the Board, I would like to thank
Omar for his contribution over the past six months in which the
Company completed both a $7.5 million private placement and a $11.5
million bought deal. We will continue to work with Omar and
Marrelli Services as we advance activities on multiple fronts”.
CFO Appointment
Mr. Lee has served as a director of Giyani since
June 2015 and Chair of the Company’s Audit Committee since June 25,
2015. Mr. Lee is a Chartered Professional Accountant with extensive
experience with international mining companies in corporate
finance, metal marketing, financial reporting, and corporate
governance. He is currently the Director, Marketing of Hudbay
Minerals Inc. and also serves as director and audit committee chair
of Nevada Zinc Corp. and Canoe Mining Ventures Corp. Prior roles
include CFO of Premier Royalty Inc. until it was acquired by
Sandstorm Gold Royalties, Vice President, Finance of Northgate
Minerals Corporation until it was acquired by AuRico Gold and
Senior Accountant at Centerra Gold Inc. Mr. Lee articled with PwC
in the audit and assurance group before transferring to PwC’s
consulting practice focusing on corporate bankruptcies and
restructurings. He is a graduate of Trinity College at the
University of Toronto and holds a Bachelor of Commerce in Economics
and Finance. Mr. Lee will resign from the Board of the Company on
his appointment to the position of CFO and will be replaced as the
Chair of the Audit Committee by John Petersen, who has been an
independent director on the Board since August 3, 2016.
Progress of K. Hill Reserve Drilling
Program
Further to the progress update released on
February 9, 2021, Giyani is pleased to announce that the planned
Reverse Circulation (“RC”) drilling is now
complete.
Progress highlights:
Holes completed: |
89 (100% program completion) |
Meters completed: |
3,310.5 m |
Holes sampled: |
69 |
Samples* collected: |
2,586 (incl. QA/QC samples) |
Samples* submitted for analysis: |
1,748 |
Results received from SGS: |
837 |
*RC samples are taken in 0.5 m intervals. |
|
The last of these samples which are being
processed and logged will be shipped to SGS Laboratories in
Randfontein, South Africa for geochemical analysis.
A summary of the first 837 results received and
significant intersections achieved, is presented below:
Hole number |
Intercept |
Grade MnO |
From Depth |
Comments |
RCKH20_001 |
3.0m |
21.2 |
% |
6.0m |
|
RCKH20_003 |
3.0m |
33.0 |
% |
15.0m |
(including 1.0m at 42.4% MnO) |
RCKH20_005 |
3.0m |
27.5 |
% |
13.0m |
(including 1.5m at 36.8% MnO) |
RCKH20_007 |
5.0m |
23.9 |
% |
8.0m |
(including 0.5m at 43.9% MnO) |
RCKH20_008 |
2.0m |
26.5 |
% |
16.0m |
|
RCKH20_010 |
4.0m |
29.7 |
% |
15.0m |
(including 1.0m at 41.5% MnO) |
RCKH20_011 |
3.0m |
30.8 |
% |
18.0m |
(including 1.5m at 35.1% MnO) |
RCKH20_013 |
3.0m |
29.8 |
% |
25.5m |
(including 1.5m at 35.6% MnO) |
RCKH20_015 |
4.0m |
30.8 |
% |
25.0m |
(including 0.5m at 43.5% MnO) |
RCKH20_016 |
3.5m |
26.6 |
% |
19.5m |
(including 2.0m at 34.0% MnO) |
RCKH20_020 |
3.0m |
36.3 |
% |
15.5m |
(including 2.0m at 41.8% MnO) |
RCKH20_021 |
2.0m |
33.8 |
% |
14.0m |
(including 1.5m at 35.6% MnO) |
RCKH20_027 |
3.0m |
33.7 |
% |
15.5m |
(including 2.0m at 37.8% MnO) |
|
|
|
|
|
A further 10 Diamond Core
(“DC”) drill holes will be completed when drilling
recommences in early April. The 10 DC holes will serve three
functions: (1) confirmation of the intersections observed in the RC
drilling, (2) geotechnical data for the geotechnical model and open
pit mine plan, and (3) samples for communition testing.
See the map in the appendix for the locations of
the completed drill holes.
Commencement of K.Hill and Otse
Exploration Programs
The first of the 2021 exploration programs at
K.Hill will kick off in early April. Access clearing and drill pad
preparation for the K.Hill resource extension drilling program is
currently ongoing. This program will consist of 32 RC drill holes
and target the extension of the geophysical anomaly identified at
the existing K.Hill ore body. Total meterage will be approximately
1,600 m and is expected to take six weeks to complete.
A geophysics program is planned for Otse. GPR
has previously been identified as a technique capable of
identifying the contrasts in density between the high-grade
manganese pods and the barren clay and silt rich host material.
However, Giyani has commissioned a more conventional resistivity
orientation program. The orientation program is ongoing and
expected to be completed in early April. This program will aim to
identify a resistivity signature over known mineralization. The two
geophysical techniques, GPR and resistivity, will then be
considered and the preferred method will be deployed on the larger
area surrounding the existing historical pits. Anomalies will be
followed up with RC drilling.
Appendix 1: Map showing the location of
completed RC holes at K.Hill.
Appendix 1 is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a669c6b1-e119-4aff-bc56-78ab30983648
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 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 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 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/.
On behalf of the Board of Directors of Giyani
Metals Corp.
Robin Birchall, CEO
Contact:Robin Birchall CEO, Director+44 7711
313019rbirchall@giyanimetals.com
Judith
WebsterCorporate Secretary and Investor Relations+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 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.
GIYANI METALS
CORP.www.giyanimetals.com
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