Giyani Metals Corp. 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.
Highlights
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”.
CFO Appointment
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.
Progress highlights:
Holes completed: | 89 (100% program completion) |
Meters completed: | 3,310.5 m |
Holes sampled: | 69 |
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_001 | 3.0m | 21.2 | % | 6.0m | |
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_008 | 2.0m | 26.5 | % | 16.0m | |
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.
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
About Giyani
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.
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:
Robin Birchall CEO, Director
+44 7711 313019
rbirchall@giyanimetals.com
Judith Webster
Corporate Secretary and Investor Relations
+1 416 453 8818
jwebster@giyanimetals.com