Business
GIYANI GOLD TO ACQUIRE MADONSI GOLD MINE, SOUTH AFRICA
Jun. 13, 2011 (Canada NewsWire Group) -- VANCOUVER, June 13, 2011 /CNW/ - Giyani Gold Corp (t...
About this update from Giyani Metals Corp
[{"type":"text","content":"\n\n\n Jun. 13, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, June 13, 2011 /CNW/ - Giyani Gold Corp (the "Company") (TSXV:\n WDG) is pleased to announce that it has entered into a binding\n agreement (the "Transaction") to acquire a 74% interest in historically\n past-producing Madonsi Gold Mine located in the Giyani Greenstone belt\n of South Africa. Consistent with the Rock Island acquisition update\n announced April 4th 2011, this Transaction together with the anticipated closing of the\n Rock Island transaction as previously announced will position Giyani\n Gold with a majority stake in seven past producing gold mines all\n located within a 13 km corridor of highly prospective moderate to high\n grade gold environment.\n\n\nThe Company expects to have a NI 43-101 technical report prepared on the\n Madonsi Gold Mine shortly after closing, which management believes will\n delineate a gold resource. In addition, management believes that the\n Madonsi Gold Mine offers considerable upside to upgrade the expected\n resource size and categories with short term exploration and\n development work.\n\n\nExecutive Chairman Duane Parnham was quoted, "Adding the Madonsi Gold\n Mine to our portfolio of contracted acquisitions has us on track with\n our stated intention of consolidating the Giyani Greenstone Belt. The\n Madonsi Gold Mine further complements the large historical resource\n management is confident is present in the Rock Island transact...