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Giyani Metals Announces Positive Updated PEA Results for its K.Hill Manganese Project, Botswana
TORONTO, April 12, 2021 (GLOBE NEWSWIRE) -- Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) ("Giyani" or the "Company") is pleased to announce its updated preliminary
About this update from Giyani Metals Corp
[{"type":"text","content":" TORONTO, April 12, 2021 (GLOBE NEWSWIRE) -- Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) (\"Giyani\" or the \"Company\") is pleased to announce its updated preliminary economic assessment (“Updated PEA”) to its previously published PEA update in Q1 2020. The Updated PEA incorporates a 36% increase in the Inferred Mineral Resource estimate resulting in a 21% increase in after-tax NPV from US$275 million to US$332 million (at a 10% discount rate) and are driven by changes in the following parameters: Change in final saleable product from High Purity Electrolytic Manganese Metal (“HPEMM”) to High Purity Manganese Sulphate Monohydrate (“HPMSM”). HPMSM requires fewer processing steps and consumes less energy compared to production of HPEMM. Based on feedback from battery manufacturers during the last year, the Company believes HPMSM is the preferred precursor material for the production of the Nickel-Cobalt-Manganese (“NCM”) cathodes used in lithium-ion batteries, especially for the Electric Vehicle (“EV”) market and aligns with the Company’s strategy to be a low or zero carbon footprint producer. Associated changes in process flow, CAPEX and OPEX for the production of HPMSM. A comprehensive remodelling of the geological model, wireframes, and block model incorporating all previously available drilling results as well as the results from 11 holes from the recently completed infill drilling program available at the time of reporting. Reducing the cut-off grade to 7.3% MnO. More accurate determination of the depletion caused by historical mining. The Updated PEA NI 43-101 Technical Report will be filed on SEDAR under the Company’s profile by April 30, 2021. Robin Birchall, CEO of the Company commented: “We are delighted with the results of the work by our team on the ground in Botswana and our team of consultants working on the revised process flowsheet and costing of the HPMSM salt option. The significant increase in the resource base is extremely pleasing and we hope to add additional tonnes as we complete the assaying of the resource holes and commence our exploration programs at the K.Hill extension and at Otse. I would like to thank the team for all their hard work.” Updated PEA Highlights Eight (8) year mine life and ten (10) year project operating life, producing 891,000 tonnes of HPMSM. Incorporates the 1.7 million tonnes Inferre...