Giyani Announces Update on Activities at its Manganese Projects, Botswana
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Giyani Announces Update on Activities at its Manganese Projects, Botswana
TORONTO, Ontario, December 20, 2021 -- Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) ("Giyani"
or the "Company"), developer of the K.Hill manganese oxide project (the “K.Hill Project”) in Botswana,
is pleased to announce completion of its initial exploration drilling campaign at the Otse manganese
oxide prospect (“Otse”) and update on exploration at the K.Hill Project.
Highlights
• Total of 66 reverse circulation (“RC”) drill holes have been completed at both the north and
south target areas (“Otse North” and “Otse South”) for a total 4,149 metres.
• Initial Otse results show high grade mineralization in multiple holes with intersections in excess
of 50% manganese oxide (“MnO”), as analysed by an on-site portable X-ray Fluorescence
(“pXRF”) machine.
• Samples from Otse are to be dispatched for assay and metallurgical testwork will be undertaken
prior to mineral resource estimation, which is currently expected in the first half of 2022.
• Geological modelling of the full K.Hill Project, including the recently discovered southern
extension (“K.Hill Extension”) is progressing prior to a new mineral resource estimate for the
combined project, which is expected to be completed in the first half of 2022.
Otse Exploration
Giyani has completed its first RC drilling campaign at Otse North and Otse South following up on targets
previously identified with an induced polarization survey. Drilling has been focused around the site of
historical workings and data has shown excellent correlation between northwest-southeast trending
chargeable anomalies and manganese mineralization.
Visible mineralization has been confirmed by pXRF analysis. From the holes analysed on-site, the most
notable results include:
Interval
Grade
Including Grade
Hole ID From To Total MnO%
From To Total MnO%
RCOT21_006 29.5 36.5 7.0 39.5 32.5 36.0 3.5 52.2
RCOT21_015 18.0 35.5 17.5 53.8
18.0 33.5 15.5 56.6
RCOT21_020 29.0 45.0 16.0 20.7
30.5 34.0 3.5 34.7
RCOT21_021 17.0 19.0 2.0 31.3
RCOT21_025 17.5 22.5 5.0 22.4
20.5 21.5 1.0 30.9
RCOT21_026 24.0 29.5 5.5 21.4
RCOT21_031 12.0 21.0 9.0 20.3
RCOT21_035 26.5 35.0 8.5 29.5
30.5 33.5 3.0 37.0
Note: pXRF analysis currently available for 50 out of the 66 completed holes.
A first batch of 803 samples has been submitted to SGS in South Africa for assay and a second batch
will be sent at the start of 2022. Following assay, mineralogical analysis and metallurgical testwork will
be undertaken, which will allow the Company to build a geological model and carry out a maiden
resource estimation for Otse. This work is expected to be completed in Q2 2022, although this timeline
remains subject to laboratory availability, for which the Company notes that facilities in South Africa and
worldwide have been experiencing delays due to COVID-19 and its related knock-on effects.
Otse is located approximately 50 kilometres east of the K.Hill Project and is connected by a well-
maintained, sealed road network.
Map of Otse South showing drill holes against geophysical chargeability
Map of Otse North showing drill holes against geophysical chargeability
K.Hill Extension
Following the previously announced RC drilling campaign over the K.Hill Extension, to the south of the
K.Hill Project, mineralogical analysis and geological modelling is progressing. Once finalised, the
Company expects to be able to report inferred and indicated resources for the enlarged K.Hill Project,
that being the K.Hill Project inclusive of the B Horizon and K.Hill Extension. The Company is currently
forecasting an updated mineral resource estimate in the first half of 2022.
Robin Birchall, CEO of the Company, commented:
“With the delivery of further exploration success at Otse and K.Hill Extension, we are putting Giyani in
the best possible position to capitalize on our first mover advantage in the battery-grade manganese
space. Initial results at Otse indicate that we have a significant source of high-grade material to feed
our proposed processing facility, lowering future operating costs and further extending our project life.
Meanwhile, following our new discoveries at the K.Hill Project, we will soon have a better understanding
of the true scale of our flagship project.
We are already starting to see laboratory analysis turnaround timelines coming under pressure, as the
world continues to wrestle with COVID-19 and the latest Omicron variant. As global mining activity
ramps up in earnest, it is possible that we will see reporting timelines start to lengthen.
With strong global sales of electric vehicles in 2021, the demand for sustainably sourced critical battery
materials, including high purity manganese sulphate monohydrate (“HPMSM”), is set to intensify. As
one of the very few new sources of low carbon HPMSM in development globally, we are well positioned
to capitalize on this growing market. Our expanding resource base will give us the flexibility to expand
our production to the rapidly rising levels of consumption.
I would like to thank the entire Giyani team and our core team of consultants for their hard work during
2021 and we are greatly looking forward to delivering value for all stakeholders in 2022.”
About Giyani
Giyani is a mineral resource company focused on becoming one of Africa’s first low-carbon producers
of high-purity electrolytic manganese precursor materials, used by battery manufacturers for the
expanding electric vehicle market, through the advancement of its manganese assets in the Kanye
Basin in south-eastern Botswana (the “Kanye Basin Prospects”), through its wholly-owned Botswana
subsidiary Menzi Battery (Pty) Limited. The Company’s Kanye Basin Prospects consist of 10
prospecting licenses and include the past producing Kgwakgwe Hill mine and project, referred to as the
K.Hill Project, the Otse manganese prospect and the Lobatse manganese prospect, all of which have
seen historical mining activities.
The Company is currently undertaking a feasibility study on the K.Hill Project, following an updated PEA
announced on April 12, 2021 with a post-tax NPV of USD332 million and post-tax IRR of 80%, based
on a current development plan to produce around 0.89 Mt of high-purity manganese sulphate
monohydrate over a 10 year project life. The PEA did not include any production from the B Horizon,
the K.Hill Extension or the Otse or Lobatse prospects.
Additional information and corporate documents may be found on www.sedar.com and on Giyani Metals
Corp. website at https://giyanimetals.com/.
Qualified Persons / 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 re viewed 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
On behalf of the Board of Directors of Giyani Metals Corp.
Robin Birchall, CEO
Contact:
Robin Birchall CEO, Director
+44 7711 313019
George Donne
VP Business Development
+44 7866 591 897
Judith Webster
Corporate Secretary and Investor Relations
+1 416 453 8818
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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
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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 in how the world-wide economic and social impact of COVID-19 is managed; 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 Annual Information Form, all of which are filed on SEDAR at www.sedar.com.