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OAKVILLE, Ontario, June 14, 2019 (GLOBE NEWSWIRE) -- Giyani Metals Corp. (TSXV:EMM) (FRANKFURT:KT9) (WKN:A2DUU8) (“Giyani” or the “Company”) is pleased to announce the completion of the metallurgical testing of stockpile material from the Company’s K.Hill and Otse manganese deposits in Botswana.
The testing was performed on 19 samples, 15 of which were taken from the K.Hill stockpile material and four from the area surrounding the former Otse mine pit. The test work included crushing and screening of the 19 samples, followed by geochemical analysis of the +10mm and -10mm fractions. Dense media separation (“DMS”) testing was carried out on the four Otse samples and on a representative composite of the K. Hill material.
The results of the testing indicate that a variety of lumpy (-75/+10mm) and fine particle (-10/+1mm) manganese products can be produced from both the K.Hill and Otse material. Table 1 below contains some of the various permutations of DMS yield, and grade for the products that may be expected from both the K.Hill and Otse material as tested. As an example, a 36% Mn lumpy product from the K.Hill stockpiles with a DMS yield of 39% is possible through standard crushing, screening, and densimetric separation. The table includes a variety of other product DMS yield and grade combinations modeled by mineral process engineering firm Worley Parsons. The Company will decide on the most suitable product on which to focus based on tradeoff studies between cost and potential revenue at prevailing market rates.
|Mn Grade (%)||30%||32%||34%||36%||37%||38%||39%||40%||41%|
|K.Hill Lumpy Mn Product DMS Yield (%)||87.2%||80.0%||39.0%|
|K.Hill Fine Mn Product DMS Yield (%)||73.7%||34.6%|
|Otse Lumpy Mn Product DMS Yield (%)||40.2%||35.8%||32.3%|
|Otse Fine Mn Product DMS Yield (%)||72.5%||58.3%||39.6%||35.1%|
Table 1. Expected DMS Plant Yield at Various Mn Grades (%)
Robin Birchall, CEO of Giyani commented:
“We are extremely pleased with these metallurgical results. Simply put, they indicate that we will be able to generate a range of potential products from the stockpile material at suitable grade and yield recoveries. These products will all be marketable into the manganese steel market. We shall now work closely with Traxys in order to determine which products will have the highest economic returns for the Company.”
All samples were shipped to SGS South Africa (Pty) (Ltd) for assay and dense media separation. Samples were analyzed by x-ray fluorescence (XRF) spectrometry following crushing and grinding. Dense media separation was also undertaken at SGS with the test work conducted on -70/+10mm and -10/+1mm fractions at specific gravity intervals of 2.7, 3.1 and 3.3. The sinks and floats were washed, dried and weighed before a subsample was taken for XRF analysis. Modeling of the expected DMS plant yield shown in table 1 was completed by Worley Parsons.
Roger Moss, Ph.D., P.Geo, is the qualified person, as that term is defined by National Instrument 43-101, on behalf of the Company and has approved the scientific and technical content contained in this press release.
Giyani Metals Corp. is a Canadian junior exploration company focused on creating shareholder value by accelerating the development of its high-grade manganese project in the Kanye Basin, Botswana, Africa. Additional information and corporate documents may be found on www.sedar.com and on Giyani Metals Corp. website: http://giyanimetals.com/.
On behalf of the Board of Directors of Giyani Metals Corp.
Robin Birchall, CEO
Giyani Metals Corporation
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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 statements regarding the size of and completion of the private placement and the intended use of the net proceeds from the financing.
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.
GIYANI METALS CORP.
277 LAKESHORE ROAD EAST, OAKVILLE, Ontario L6J 1H9
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