Giyani Metals announces a 36% increase in its inferred mineral resource estimate
Giyani Metals (TSXV:EMM) said on Monday its 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.
The company is advancing its K.Hill, Lobatse & Otse manganese oxide projects in the Kanye Basin, Botswana, Africa.
The resource increase was a result of "... 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."
The company also changed its final 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," wrote the company.