Giyani Gold Corporation ("Giyani" or the "Company") is pleased to announce the acquisition of six new prospecting licenses that encompass the past producing Kgwakgwe Hill Manganese Mine located in the Kanye Basin, Southeastern Botswana. Binding agreements have been signed with Everbroad Investments (Pty) Limited and Marcelle Holdings (Pty) Limited to acquire an 88% interest in PL322/2016 (Kgwakgwe Hill License) and 100% interest in PL336/2016 to PL340/2016 (adjacent to Kgwakgwe Hill) inclusive by making cash payments totaling US$75,000.
The Kgwakgwe Hill project covers a supergene system containing high-grade manganese nodules. Manganese ore mined from 1957 to 1967 at Kgwakgwe Hill consisted almost entirely of such high-grade manganese oxide nodules grading 40-50% total manganese (Source: Botswana Notes and Records, Vol.30, p. 147-156).
The deposit lies within the Kanye Basin, which is underlain by rocks of the Transvaal Supergroup ("Transvaal"). The Transvaal hosts roughly 80% of the world's manganese reserves and has been identified in Botswana both under cover beneath Kalahari sands and in local outcrop within the project area. This deposit is of particular interest to Giyani because it is proof of concept that manganese deposits exist in Botswana and that the manganese displays simple yet ideal chemical compositions and grade characteristics that would be attractive to battery manufacturers.
Giyani will immediately commence with field exploration on Kgwakgwe Hill and the surrounding area with the objective of outlining an economic deposit and developing a mining strategy to extract high grade selected material at quantities tailored to meet the specifications of the new battery types developed today.
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.
The acquisition of the Kgwakgwe Hill high-grade manganese project, is an ideal asset that continues to expand the Company's high quality pipeline of manganese projects in Botswana and Zambia. In addition, this acquisition continues to advance Giyani's strategy of acquiring raw materials for the growing battery industry.
Additional information and corporate documents may be found on www.sedar.com and on the Giyani website: www.giyanigold.com. Associated maps to this release may be found on the Company's website www.giyanigold.com/projects.