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Giyani Metals Corp. (TSXV:WDG, GR: A2DUU8) (“Giyani” or the “Company”) is pleased to announce its maiden mineral resource estimate for its 88% owned K.Hill manganese deposit in Botswana.
Giyani Metals Corp. (TSXV:WDG, GR: A2DUU8) (“Giyani” or the “Company”) is pleased to announce its maiden mineral resource estimate for its 88% owned K.Hill manganese deposit in Botswana. The mineral resource estimate, prepared by the South Africa based MSA Group, includes an inferred resource of 1.1 million tonnes grading 31.2% manganese oxide (MnO) at a cut-off grade of 18% MnO.
Robin Birchall, CEO of Giyani Metals Corp. commented:
“This maiden resource at K.Hill represents a significant milestone in the development of our company. The scale of this resource gives us confidence to immediately proceed with a preliminary economic assessment( PEA). We now have a proven tangible asset that adds intrinsic value to our shareholders. Giyani will grow from this point onwards with the goal of becoming an independent, vertically integrated, manganese supplier to the battery market. By developing the K.Hill prospect into its full potential and continuing to prove other prospects within our large property, we are putting Giyani on the map as an active player in the growing battery electric vehicle market.”
Mineral Resource summary
The Mineral Resource estimate was based on geochemical analyses and density measurements of core samples obtained by diamond drilling undertaken by Giyani from 16 April 2018 to 2 July 2018. A total of eighteen vertical holes were drilled at K-Hill. Two of the drill holes were collared outside the Mineral Resource area, one was drilled for metallurgical purposes and twelve of the drill holes intersected the manganese shale. The intersections obtained from ten drill holes were used to estimate the grade of the Mineral Resource. The remainder were used in defining the extent of the mineralization.
A three dimensional geological model of the major stratigraphic units was constructed using the drillhole logging data. The mineralized envelope within the manganese shale was defined by a 15% MnO threshold and a three dimensional mineralization model was constructed. The grades of MnO, Fe2O3, Al2O3, SiO2 as well as Loss on Ignition (LOI) and density were estimated using inverse distance squared into a block model based on the geological and mineralization model. An adjustment to the modelled tonnage was made in order to account for depletion by historical mining.
The Mineral Resource was estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Best Practice Guidelines and is reported in accordance with the 2014 CIM Definition Standards, which have been incorporated by reference into National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101). The Mineral Resource is classified into the Inferred category as shown in Table 1 below.
Footnotes:
- Mineral Resources which are not Mineral Reserves have no demonstrated economic viability.
- LOI = Loss on ignition.
- Density determination was on undried samples and tonnages are reported as wet.
The cut-off grade calculation was based on the following assumptions: EMM price of USD2,500/t (FOB), mining cost of USD35/t, processing cost of USD75/t, G&A cost of USD20/t, transport cost of USD50/t EMM, metallurgical recovery of 60% of the contained manganese.
Dr. Ian Flint, who lead Giyani’s hydrometallurgical testing, states that “ the laboratory scale test-work on samples from the hole drilled for metallurgical test-work indicates that the manganese mineralization and leach chemistry are well suited for solvent extraction. A manganese recovery of over 95% was achieved at this stage.: It is envisaged that this would be further processed to electrolytic manganese metal (EMM).
The Mineral Resource is reported at a cut-off grade of 18% MnO, which is the lowest grade block estimate within the mineralization model. Given reasonably assumed high-level cost and revenue assumptions, MSA considers that mineralization at this cut-off grade will satisfy the test for reasonable prospects for eventual economic extraction.
The Inferred Mineral Resource has been tabulated using a number of cut-off grades as shown in Table 2.
Footnotes:
- All tabulated data have been rounded and as a result minor computational errors may occur.
- Mineral Resources which are not Mineral Reserves have no demonstrated economic viability.
- LOI = Loss on ignition.
- Density determination was on undried samples and tonnages are reported as wet.
Giyani will be filing an NI 43-101 Technical Report on the K-Hill Project within 45 days of this news release.
Qualified Persons / NI 43-101 Statements
Jeremy C. Witley, Pr Sci Nat. of MSA Group is the Company’s Qualified Person (as that term is defined by National Instrument 43-101) for the K-Hill Project. Mr. Witley has reviewed and approved the scientific and technical content contained in this press release, and verified the underlying technical data. Mr. Witley is independent of the Company.
Drill cores were sawn in half and one half was sampled and placed in a plastic bag along with a sample tag. Bags were sealed with a single use tie. Samples were securely stored prior to shipping to SGS laboratories in Randfontein, Johannesburg, South Africa. Samples were crushed and milled prior to analysis by borate fusion and XRF. The samples were subjected to a quality assurance and quality control (QAQC) program consisting of the insertion of blank samples, certified reference materials and coarse duplicates. The primary laboratory assay values were confirmed by 40 duplicate samples assayed by a second laboratory (Intertek Genalysis, Maddington, Australia). The Qualified Person is satisfied that the assay results are of sufficient accuracy and precision for use in Mineral Resource estimation.
About Giyani
Giyani Metals Corp. is a Canadian based junior exploration company focused on creating shareholder value by accelerating the development of its battery-grade manganese projects in the Kanye Basin, Botswana, Africa.
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:
Giyani Metals Corporation
Robin Birchall
CEO, Director
+447711313019
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Statements
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, the financial picture of the Company etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statement.
This news release also contains references to estimates of Mineral Resources. The estimation of Mineral Resources is inherently uncertain and involves subjective judgments about many relevant factors. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The accuracy of any such estimates is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation, which may prove to be unreliable and depend, to a certain extent, upon the analysis of drilling results and statistical inferences that may ultimately prove to be inaccurate. Mineral Resource estimates may have to be re-estimated based on, among other things: (i) fluctuations in mineral prices; (ii) results of drilling; (iii) results of metallurgical testing and other studies;(iv) the possible failure to receive required permits, approvals and licences, or changes to any such permits, approvals or licences; and (v) changes in laws, rules or regulations.
Source: globenewswire.com