Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8)
("
Giyani" or the "
Company")
developer of the K.Hill battery-grade manganese project in Botswana
("
K.Hill" or the "
Project") is
pleased to announce that it has completed the field work for the
infill drilling programme at the Project. The information gathered
from this programme is expected to provide the basis for an updated
Mineral Resource Estimate (“
MRE”) to be included
in the 2025 Definitive Feasibility Study (“
DFS”).
Highlights:
-
Giyani has completed a 3,185m (61 hole) infill drilling programme
at K.Hill. The aim of the programme was to define sufficient
Measured Mineral Resource for the initial five years of mining
operations covering the typical tenure of project finance debt
facilities. This drill programme will supplement the 10,710m of
previous drill results used in the 2023 MRE.
-
The results of the infill drilling programme will also be
integrated with the Demonstration Plant (“Demo
Plant”) processing and operating output data to optimize
the mine schedule and plant feed grades within the DFS.
-
Giyani has now commenced the mining geotechnical field
investigations to inform the mine design parameters for the DFS.
Groundwater monitoring holes will also be drilled to allow on-going
water sampling to confirm baseline water quality data and future
monitoring during the construction and operating phases.
-
Concurrent with these drilling programs, Giyani will launch the
civil geotechnical field investigations. These investigations will
comprise both drilling and pitting programmes, and inform the
geotechnical design criteria of all plant, support infrastructure,
access roads, waste rock dumps and the tailings storage facility,
all important steps in the DFS process.
Danny Keating,
President and CEO of the Company, commented:
“We have initiated a comprehensive fieldwork
programme aimed at upgrading significant portions of the Indicated
Mineral Resource into the Measured Mineral Resource category,
providing geotechnical data for detailed designs of the plant and
related infrastructure, and installing a water monitoring system to
ensure our compliance with the highest international environmental
standards.
This continues our approach of systematically
de-risking the Project in advance of securing construction
financing. Meeting lender requirements that the debt repayment
period is covered by Measured Mineral Resource, that the project
execution plan is supported by detailed designs and underpinned by
sound geotechnical data are all part of a comprehensive de-risking
approach with the aim of further increasing the Project’s
attractiveness to lenders and investors.”
2024 Drilling Programme
Giyani has completed a resource drilling
programme which commenced in Q1 2024 (see Figure 1 below) and
included 3,185m of drilling over 61 holes. A combination of
reverse-circulation (“RC”) and diamond drilling
(“DD”) was used to optimise core recoveries as
well as minimise costs. RC is more cost effective than DD for
collaring the holes and initial casing, while DD provided superior
core sample recovery for analysis and density testwork.
The programme builds on the 2023 MRE (see Table
1 below), which was prepared using data from 187 RC and DD holes
from all drilling campaigns conducted over the Project since 2018,
totalling 10,710m.
The goal of the current programme is to upgrade
and reclassify a portion of the current 8.6Mt Indicated Mineral
Resource into Measured Mineral Resources, to ensure the Project has
sufficient Measured Mineral Resources for the initial five years of
mine production that typically covers the project finance debt
repayment period.
The addition of this data will increase Giyani’s
knowledge of its K.Hill deposit, enabling more accurate modelling
of the ore grade and the elemental profile of the ore going to the
plant, in turn allowing more accurate forecasting of the production
profile.
Some 100t of mineralised material from K.Hill
was shipped to Johannesburg in 2023 and is expected to be processed
into HPMSM at the Demo Plant in H2 2024. The same ore from K.Hill
will be used as feedstock in the Commercial Plant which is planned
to be built in Botswana and start ramping up to full commercial
scale production from 2027.
Figure 1: 2024 K.Hill Drill
Programme
Mineral Resource
Estimate1
The Mineral Resource Estimate completed by CSA
Global in July 2023 is presented for ease of reference.
Mineral ResourceClassification |
Tonnage(Mt) |
Grade(% MnO) |
Contained MnO(Mt) |
HPMSM Equivalent(Mt)2 |
Indicated |
8.6 |
15.2 |
1.3 |
3.1 |
Inferred |
6.1 |
14.1 |
0.9 |
2.1 |
Table 1: K.Hill Project
CSA Global MRE Statement as of July 2023 (at a cut-off grade of
7.3% MnO)
- Source:
K.Hill Battery-Grade Manganese Project Preliminary Economic
Assessment, National Instrument 43-101 Technical Report, with an
effective date of 31st July 2023, was prepared on behalf of Giyani
Corp. by CSA Global South Africa (Pty) Ltd, an ERM Group company,
Tetra Tech Europe, Knight Piésold Ltd. and Axe Valley Mining
Consultants Ltd. and was filed under the Company's profile on
SEDAR+ on August 25, 2023.
- Before
processing recoveries are applied.
MRE Notes:a) The Mineral
Resource has been classified and reported under the guidelines
defined by the Canadian Institute of Mining, Metallurgy and
Petroleum in their document “CIM Definition Standards for Mineral
Resources and Mineral Reserves” of May 2014. b) Mineral
Resources are not Mineral Reserves and have not demonstrated
economic viability.c) Mineral Resources are stated as in situ
dry tonnes; figures are reported in metric tonnes. d) Figures
have been rounded to the appropriate level of precision for the
reporting of Mineral Resources.e) Estimation has been
completed within 6 different mineralization domains.f) Mineral
Resources are reported assuming open pit mining methods.g) The
Mineral Resource is reported within a conceptual pit shell
determined using a price of US$3,800/t HPMSM (equivalent to
US$9,054/t MnO), conceptual parameters and costs to support
assumptions relating to reasonable prospects for eventual economic
extraction.h) The Mineral Resource is reported at a cut-off
grade of 7.3% MnO.i) The estimate of Mineral Resources may be
materially affected by environmental, permitting, legal, title,
taxation, socio-political, marketing, or other relevant issues. CSA
Global is not aware of any environmental, permitting, legal, title,
taxation, socio-economic, marketing, political, or other any other
relevant factors affecting the MRE.j) HPMSM price quoted is
based on 2022 market data, which was available at the time of
reporting the Mineral Resource. Additional pricing information will
be available for input into subsequent technical studies, and this
may impact on the Mineral Resource reported.
Qualified Person and Data
Verification
Mr. Luhann Theron, MSc., Pr.Sci.Nat. 400184/15,
of Lambda Tau is registered with the South African Council for
Natural Scientific Professions, membership number 400184/15, and
last visited the K.Hill Project site in July 2024 and is a QP, as
defined by NI 43-101. Mr. Theron is the Chief Geologist for the
Company and has reviewed and approved the scientific and technical
content contained in this announcement but is not independent for
the purposes of NI 43-101.
About Giyani
Giyani is focussed on becoming the dominant
western-world producer of sustainable, low carbon high purity
battery grade manganese for the electric vehicle
(“EV”) industry. The Company has developed a
proprietary hydrometallurgical process to produce High Purity
Manganese Sulphate Monohydrate (“HPMSM”), a
lithium-ion battery (“LIB”) cathode precursor
material critical for EVs.
The Company has secured US$26m in financing from
two strategic partners, ARCH Sustainable Resources Fund LP and the
Industrial Development Corporation of South Africa, as it aims to
progress the K.Hill battery-grade manganese project in Botswana to
construction by building and operating the Demo Plant and
completing a Definitive Feasibility Study by H1 2025.
Additional information and corporate documents
may be found on www.sedarplus.ca and on Giyani Metals Corp. website
at https://giyanimetals.com/.
On behalf of the Board of Directors of Giyani
Metals Corp.
Danny Keating, President and CEO
Contact:
Danny KeatingPresident & Chief Executive
OfficerTel: +1 289 291 7632dkeating@giyanimetals.com
Charles FitzRoyHead of Corporate Development
& Strategycfitzroy@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 news 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 news 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.
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 licences 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.sedarplus.ca.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/025b2733-45d8-486a-8972-ec49be0719b6
Giyani Metals (TSXV:EMM)
過去 株価チャート
から 8 2024 まで 9 2024
Giyani Metals (TSXV:EMM)
過去 株価チャート
から 9 2023 まで 9 2024