Giyani Gold Intercepts Significant Mineralization in First Hole Drilled at Klein Letaba Mine - Limpopo, South Africa

13.162 g/tonne Au over 15.1m

Including:

     10.215 g/tonne Au over 2.33m
     28.827 g/tonne Au over 3.67m
     18.167 g/tonne Au over 3.0m

OAKVILLE, ON, Sept. 7, 2012 /CNW/ - Giyani Gold Corp. (TSXV: WDG) ("Giyani Gold")  announces that hole KL12-01 was drilled at -60 degrees to hit the projected down plunge of the Klein Letaba gold deposit in South Africa and has intersected a significant gold bearing zone composed of silicification, quartz veins, and associated disseminated sulphides.

The intercept occurs at 210m - 216.1m down the hole or at 187m vertical depth from surface. This intercept proves that the depth extension of these deposits extends beyond previous historic Klein Letaba mine workings. The true thickness of the 15.1m intercept is approximately 10m based on core angles. Additional holes are needed to establish true thickness.  The zone occurs in basalts with ultramafic affinity below a sedimentary (greywacke) unit which is a similar setting to a number of gold deposits in the Timmins-Porcupine area of Canada.

The results of hole KL12-01 are summarized in the following table:

       
Hole Sample From To Interval Gold Gold
Check Assay
Number Number (m) (m) (m) g/tonne* g/tonne*
KL 12- 01 12091 201 202 1.00 >10.0 17.85
KL 12- 01 12092 202 203 1.00 6.94 5.88
KL 12- 01 12093 203 203.33 0.33 0.213  
KL 12- 01 12094 203.33 204 0.67 >10.0 12.15
KL 12- 01 12095 204 205 1.00 >10.0 95.70
KL 12- 01 12096 205 206 1.00 1.62  
KL 12- 01 12097 206 207 1.00 0.335  
KL 12- 01 12098 207 208 1.00 3.47 4.01
KL 12- 01 12099 208 209 1.00 7.42 7.69
KL 12- 01 12100 Standard     2.30  
KL 12- 01 12101 209 210 1.00 >10.0 42.8
KL 12- 01 12102 210 211 1.00 0.781  
KL 12- 01 12103 211 212 1.00 0.814  
KL 12- 01 12104 212 213 1.00 0.803  
KL 12- 01 12105 213 213.3 0.30 0.228  
KL 12- 01 12106 213.3 214.58 1.28 7.58 8.81
KL 12- 01 12107 214.58 216.1 1.52 0.592  
Total - Overall Zone     15.10   13.162

* All assay results are uncut.  All the assay results and sub-intervals summarized in the table above have a bottom cut-off of 0.05 g/tonne of gold. All assay results greater than 3 g/tonne have been re-assayed.  Average grades presented are shown as weighted averages.

Based on historical data, the Klein Letaba mine contained 5 parallel "vein" structures labeled as veins 2, 3, 4, 6, 9.  The plunge is thought to be between -45 and -55 degrees west. The original vein in the Klein Letaba mine was only mined to a depth of 141m.  The host rocks are metamorphosed to amphibolite facies and are deformed and this resulted in a series of plunging ore lenses along the Klein Letaba Zone (see News Release dated June 13, 2012).

Giyani Gold's IP and Magnetic ground geophysical surveys conducted in late 2011 and earlier in 2012 have outlined numerous drill targets along the Klein Letaba and Frankie Zones. The present drill program will initially focus on the Klein Letaba structure on targets located 1.0 km east and 1.0 km west of the historic Klein Letaba mine No. 2 shaft which is line 0+00 on the geophysical grid. Once the other new targets are understood, a detailed drill program will be conducted to generate a resource at depth at the mine and on any newly discovered lenses from the IP geophysical survey.

Giyani Gold continues to focus drilling on its Klein Letaba and Frankie properties.  Drilling of hole 6 has recently been completed and Giyani Gold is currently drilling hole 7 (see Giyani Gold's website for a map of all drill sites).  Giyani Gold will continue to release new drill hole results in batches as their analysis is completed.

As part of Giyani Gold's Quality Assurance and Quality Control procedures (QA/QC), all of the intervals exceeding 3 grams Au have been re-assayed.  In addition, systematic re-assaying of intervals is in progress to confirm the compliance of blanks and duplicate checks.  Giyani Gold's QA/QC includes the insertion and continual monitoring of numerous standards, blanks and duplicated into the sample stream every 50m and a blank in between this 50m interval.  ALS Chemex (Johannesburg) also performs internal QA/AC.

Cross sections and correlations between this hole and other holes will be published once assays from other holes are reported.  Any future resource calculations will be calculated from compliant intervals, and if there is any material variation from the reported intervals on a hole by hole basis, then Giyani Gold will report this in subsequent releases, but it is of the opinion of Giyani Gold that any variations are unlikely to be material.

In Giyani Gold's drill programs, composite intervals are chosen using a combination of geological criteria and mineralization, averaging approximately 1 meter core length.  The drill core is logged and then is cut in half by Giyani Gold technicians at a secure core shack facility near the Klein Letaba mine with guarded and controlled access to the site.  One half of the core samples are then sent by secure courier to Johannesburg to ALS Chemex.  All drill samples are prepared and screened by ALS Chemex (Johannesburg) using fire assay and multi-element ICP-MS and are assayed by ALS Chemex in Johannesburg.  The remaining half of the drill core is kept at Giyani Gold's secure core shack for future assay verification or any other investigation.  Intervals below a bottom cut-off grade of 0.05 g/tonne Au are calculated at zero gold.

Assaying is done on a 30 gram pulp generated from split NQ core using fire assay extraction and an AA finish. High grade samples like the ones obtained in Hole 1 are done with a gravimetric finish.  Any gold values over 3.0 g/tonne were re-assayed and completed with a gravimetric finish.

Robert S. Middleton, P.Eng., VP of Exploration for Giyani Gold is responsible for the drilling program including the core logging, sampling of the drill core and assay procedures and Quality Assurance/Quality Control measures.  In addition, Mr. Middleton is the Qualified Person for Giyani Gold Corp. under the rules of the TSXV, and has reviewed the contents of this news release and approved it.

Additional information and corporate documents may be found on www.sedar.com and the Giyani gold website, www.giyanigold.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

On behalf of the Board of
Giyani Gold Corp.
"Duane Parnham"
Executive Chairman

Forward Looking Statements

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release or other future plans, objectives or expectations of Giyani Gold Corp. are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Giyani Gold's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by Giyani Gold with securities regulators. Giyani Gold expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

 

SOURCE: GIYANI GOLD CORP.

For further information:

Chuck Allen, President
Giyani Gold Corp.
Tel: +1.905.844.1456 X223
Email: callen@giyanigold.com

Profil de l'entreprise

GIYANI GOLD CORP.

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