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Map showing progress of drilling as of 8 February, 2021
Map of the geophysical signature overlaid with the planned 32 holes for the Step-out Exploration Drilling Program
Not for distribution to U.S. newswire services or for dissemination in the United States
TORONTO, Feb. 09, 2021 (GLOBE NEWSWIRE) -- 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:
4.0m @ 29.7% MnO (including 1.0m at 41.5% MnO)
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
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.
(including 1.0m at 42.4% MnO)
(including 1.5m at 36.8% MnO)
(including 0.5m at 43.9% MnO)
(including 1.0m at 41.5% MnO)
(including 1.5m at 35.1% MnO)
Figure 1. Map showing progress of drilling as of 8 February, 2021
38 (42% program completion)
1,174 (incl. QA/QC samples)
Samples* submitted for analysis:
Results received from SGS:
*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.
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.
Giyani 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 Explorations
RotsDrill 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 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
Stewardship 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
Robin Birchall CEO, Director
+44 7711 313019
VP, Business Development
+44 7866 913207
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.