OAKVILLE, ON, Jan. 2, 2013 /CNW/ - Giyani Gold Corp. (TSXV: WDG)
("Giyani Gold" or the "Company") is pleased to announce the completion
of a 20 hole 4488m drill program on the Company's Klein Letaba
property in the Limpopo Province of South Africa. The Company is
releasing results from three drill-holes focused on following-up the
new gold zone ("New Gold Z1") previously discovered in Hole KL-01 on
the "Klein Letaba Trend", and one drill-hole with results from new
geophysical targets located on the "Middle Trend".
Klein Letaba Trend
Holes KL-04, KL-14, and KL-03 were drilled to determine the dip of New
Gold Z1, which is thought to be the western segment of two vein systems
of the historic Klein Letaba Mine.
Hole KL-04 was collared at a location 50m east of Hole KL-01 and
intersected 10.30 g/tonne Au over 0.84m. A quartz silicified zone was
identified in Hole KL-04 on the edge of New Gold Z1 which is located
approximately 30m east of Hole KL-01.
Hole KL-14 was collared at the same location as Hole KL-01 and
intersected New Gold Z1 25m up dip from Hole KL-01. This hole contained
two high grade gold values of 7.70 g/tonne Au over 1.2m and 6.56
g/tonne Au over 0.43m within a 30m wide anomalous gold "halo" with
values ranging from 0.10 g/tonne Au to 7.39 g/tonne Au. The gold
intersected in the halo indicates that a section of Hole KL-14 also
passed above the western edge of New Gold Z1. Additional drilling is
being planned to better define the structure of New Gold Z1.
Hole KL-03 was collared at a location 50m south of Hole KL-14 with the
aim to locate new near surface gold veins but did not intersect any
significant gold values.
Historical mine sections and plans have recently been made available
that better define the historically mined gold zones, which had a steep
plunge of approximately 55 degrees east, and Giyani Gold anticipates
that New Gold Z1 will have a similar 55 degree plunge. As a result
additional holes are planned to delineate the up plunge, down plunge,
and western edge of New Gold Z1.
The Middle Zone occurs 200m north of the Klein Letaba Trend and is a
shear with associated sericite alteration and pyrite with localized
silification. The Middle Zone was intersected over a 1300m length by
Holes: KL-02, KL-05, KL-06, and KL-08.
The top of Hole KL-02 intersected 6.99 g/tonne Au over 1.00m and the top
of holes KL-05 and KL-06 also intersected this zone. Hole KL-08
contains a 100m wide zone of anomalous gold values acting as a large
gold halo that is similar in nature to the halo intersected in Hole
Giyani Gold Project
The gold halos seen in holes KL-06 and KL-08 on the Middle Trend, and
hole KL-14 on the Klein Letaba trend are powerful exploration tools for
finding high grade gold zones which may occur within 25m of such halos.
The Company has released results from 8 holes (KL-01, KL-02, KL-03,
KL-04, KL-05, KL-06, KL-08, and KL-14) of the completed 20 hole drill
program with the remaining assay results pending and to be released in
the near term. This marks the completion of the drill program
previously announced in July (see News Release July 18, 2012). A
detailed surface mapping program is now under way to determine the
overall regional structure of the Klein Letaba-Frankie property. An
updated drill-hole location map can be found on the Giyani Gold website
by visiting www.giyanigold.com.
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 duplicates which are inserted into the
sample stream at random intervals every 50 meters. and a blank is
inserted in between this 50 meter interval. ALS Chemex (Johannesburg)
also performs internal QA/AC.
Cross sections and correlations of these results will be published once
assays from the remaining 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
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
This news release has been reviewed and approved by R.S. Middleton
P.Eng. who is acting as the Qualified Person for the Giyani Gold under
the NI43-101 regulations. 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
On behalf of the Board of
Giyani Gold Corp.
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
SOURCE: Giyani Gold Corp.
For further information:
Luke Vigeant, Head of Communications
Giyani Gold Corp.
Tel: +1.905.844.1456 X237
Chuck Allen, President
Giyani Gold Corp.
Tel: +1.905.844.1456 X223