TORONTO, July 13, 2023 (GLOBE NEWSWIRE) — 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 delighted to announce an updated Mineral Resource Estimate (“MRE”) for K.Hill.
- 310% increase in Indicated Mineral Resources to 8.6 million tonnes (“Mt”) with approximately 3.1 Mt of contained High Purity Manganese Sulphate Monohydrate (“HPMSM”) equivalent, before processing recoveries are applied.
- 97% increase in Inferred Mineral Resources to 6.1 Mt with approximately 2.1 Mt of contained HPMSM equivalent, before processing recoveries are applied.
- Company is currently undertaking a Preliminary Economic Assessment (“PEA”) based on the new MRE, assessing the potential for K.Hill project life to extend beyond 25 years.
The MRE has been prepared by CSA Global South Africa, an ERM Group company (“CSA Global”) in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum Code (“CIM Code”) and National Instrument 43-101 (“NI 43-101”). An independent peer review has also been performed on the updated MRE by Paul Daigle, P.Geo., géo.
Major Mineral Resource Upgrade
In February 2022, the Company released an MRE for K.Hill based on data from 115 reverse-circulation (“RC”) and diamond drill (“DD”) holes totalling 4,793 meters (“m”) of drilling. The updated MRE from CSA Global has been prepared using data from 187 RC and DD holes from all drilling campaigns conducted over the Project since 2018, totalling 10,710 m. This additional drilling, completed since February 2022, includes 40 step-out holes along strike into a previously untested, but mineralized, section to the west and to the south.
This collated and complete set of drilling data, together with new density determination programs and updated optimization parameters for the constrained pit shell, has seen a strong conversion of Inferred to Indicated Mineral Resources resulting in an increase in Indicated Mineral Resources of more than 300% and an increase of almost 100% in Inferred Mineral Resources.
SOURCE: Giyani Metals Corp.
DATE: 13 July 2023