2024 Drilling Programme Commences at the K.Hill Project

TORONTO, April 09, 2024 (GLOBE NEWSWIRE) -- Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) ("Giyani" or the "Company") developer of the K.Hill battery-grade manganese project in Botswana ("K.Hill" or the "Project") is pleased to announce that as part of its planned 2025 Definitive Feasibility Study (“DFS”), Giyani has commenced an infill drilling programme at the Project. The information gathered from this programme is expected to provide the basis for an updated Mineral Resource Estimate (“MRE”) to be included in the DFS.

Highlights:

• Giyani has commenced a 2,500m, 61 drillhole infill drilling programme at K.Hill with the aim of defining sufficient Measured Mineral Resources for the initial 5 years of mining operations, which are typically covered by project finance debt facilities.
• The results of the infill programme will be integrated with the Demonstration Plant (“Demo Plant”) processing and operating output data to optimize the mine schedule and plant feed grades within the DFS.
• The Demo Plant is currently under construction in Johannesburg and is expected to process 100 tonnes of K.Hill feedstock ore to produce battery grade manganese in H2 2024.
  

Danny Keating, President and CEO of the Company, commented:

“As we look to ready the Company for a Final Investment Decision in 2025, we have initiated a number of workstreams to further de-risk the Project for potential financiers.

The drilling programme is expected to take a significant portion of the Indicated Mineral Resource into the Measured Mineral Resource category. This will give greater confidence in the mine plan during the likely debt repayment period and also gives us the opportunity to potentially declare a Proven Reserve as part of the upcoming Definitive Feasibility Study.

A de-risked mine plan, a new Definitive Feasibility Study, an operating demonstration plant proving our flowsheet on a continuous basis, and samples with potential customers will enable Giyani to attract the widest range of financiers and off-takers to take this Project into construction and beyond as we aim to position Giyani as the dominant producer of HPMSM globally.”

2024 Drilling Programme

Giyani has commenced a 2,500m resource drill programme with 61 holes currently planned (see Figure 1 below). A combination of Reverse-Circulation (“RC”) and Diamond Drilling (“DD”) will be used to optimise recoveries and ensure costs are kept as low as possible. RC for collaring the holes and initial casing is more cost effective than DD, while DD will provide superior sample recovery for analysis and density testwork.