OAKVILLE, ON, July 12, 2012 /CNW/ - Giyani Gold Corp. (TSXV: WDG) ("Giyani Gold") is pleased to announce it has acquired an additional 39.50 square kilometers of surface and mineral rights situated in Keating Township, Ontario (the "Lands"), located due east of Giyani Gold's Abbie Lake-Keating Property. This acquisition positions Giyani Gold with a total of 12,761 hectares located in a highly prospective geological setting for gold and extends Giyani Gold's land position eastward into the Killin Township. These additional lands increase Giyani Gold's strike length at the Abbie Lake-Keating property to 30 kilometers.
Giyani Gold's initial phase of its drilling program has just been completed with assay results expected in the near future. Core drilling has just been completed and logging and splitting is underway. The core will be logged at a secure facility near White River and split, and sent to Thunder Bay for assay preparation at ALS Chemex's facility in Thunder Bay, prior to assaying in North Vancouver, BC. Assays will be carried out on 30 gm samples with Fire Assay (FA) and AA finish (atomic absorbtion). Trace pathfinder elements will also be examined.
Mr. Bob Middleton, VP of Exploration, stated: "These newly acquired Lands allow Giyani Gold to continue to explore the potential eastern extension of the quartz - eye porphyry which we previously identified on the Abbie Lake-Keating Property."
The Company and 2299895 Ontario Inc. ("2299895"), a subsidiary of the Company, entered into an agreement under license from a private arms-length corporate entity to the Company and the owner of the Lands, in exchange for an annual fee payable by 2299895 to that party.
The exploration program is supervised by Robert S. Middleton P.Eng. Mr. Middleton acted as the Qualified Person for the Company.
About Giyani Gold Corp.
Giyani Gold is a publicly-traded junior exploration company focused on building a portfolio of under explored, past producing gold assets. Giyani Gold has entered into agreements to acquire five exploration licenses in the Giyani Archean Greenstone Belt located in the northeastern region of South Africa. These properties consist of more than 170 square kilometers of highly prospective greenstone belt with six past producing mines. Closing of these transactions remains subject to satisfaction of various closing conditions.
Giyani Gold has also assembled approximately 140 square kilometers of options and licenses within the western part of the Goudreau-Lochalsh Greenstone Belt near Wawa, Ontario. This greenstone belt is known for gold production with multiple operating mines in the region. These properties cover a 30 kilometer strike length and host a quartz - eye porphyry system.
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.,
For further information:
Chuck Allen, President
Email: [email protected]