Giyani Metals Corp. is pleased to announce the appointment of Mr. Eugene Lee as Chief Financial Officer replacing Omar Gonzalez, senior employee of Marrelli Support Services Inc. effective April 20, 2021. In addition, the Company is pleased to announce the completion of the K.Hill manganese project reserve infill drilling program and the commencement of the 2021 exploration program at the Company’s Otse prospect …
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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.
- 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 ”.
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.
|Holes completed:||89 (100% program completion)|
|Meters completed:||3,310.5 m|
|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_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_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 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
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 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.
On behalf of the Board of Directors of Giyani Metals Corp.
Robin Birchall, CEO
Robin Birchall CEO, Director
+44 7711 313019
Corporate Secretary and Investor Relations
+1 416 453 8818
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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