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Giyani Metals Announces Significant Mineral Resources Increase and Upgrade for K.Hill Project
TORONTO, Feb. 16, 2022 (GLOBE NEWSWIRE) -- Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) ("Giyani" or the "Company"), developer of the K.Hill manganese oxide projec
About this update from Giyani Metals Corp
[{"type":"text","content":" TORONTO, Feb. 16, 2022 (GLOBE NEWSWIRE) -- Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) (\"Giyani\" or the \"Company\"), developer of the K.Hill manganese oxide project (“K.Hill Project”) in Botswana, is pleased to announce an updated Mineral Resource Estimate (“MRE”) for the K.Hill Project that incorporates its recently discovered southerly extension (“K.Hill Extension”). Highlights A 31% increase in Indicated Resources for the K.Hill Project to 2.1 million tonnes (“Mt”) at an average grade of 19.3% manganese oxide (“MnO”), which equates to approximately 0.41Mt of contained manganese oxide or roughly 1.0Mt of High Purity Manganese Sulphate Monohydrate (“HPMSM”), before processing recoveries are applied. A 121% increase in Inferred Resources to 3.1Mt at an average grade of 16.9% MnO, which equates to approximately 0.53Mt of contained manganese oxide or roughly 1.3Mt of HPMSM, before processing recoveries are applied. Infill drilling across the K.Hill Extension area to upgrade Inferred Resource material to Indicated Resources has recently commenced and is currently expected to be completed by the end of the first half of 2022. Metallurgical test work for the feasibility study of the K.Hill Project (“FS”) remains ongoing and has now reached the final stages. The MRE has been prepared by SRK Consulting (“SRK”) in accordance with the CIM Code and National Instrument 43-101 (“NI 43-101”) and also includes the results of mineralogical test work on the previously announced additional mineralized horizon (“B Horizon”) located below the main ore body of the K.Hill Project. The K.Hill Project is being developed to produce HPMSM, a precursor chemical used in the manufacture of rechargeable battery cathodes for electric vehicles. Major Mineral Resource Upgrade Following completion of the reverse circulation (“RC”) extensional drilling program over the K.Hill Extension in 2021 and mineralogical analysis of samples from the B Horizon, SRK has developed an updated MRE for the enlarged K.Hill Project, encompassing results from all zones of the K.Hill Project, including the B Horizon and the new K.Hill Extension area. SRK has also updated the geological model in the FS to include the expanded Indicated Resources. The MRE reported has been restricted to all classified material falling within an optimized pit shell representing a long-term price for...