Giyani Metals Corp (TSX-V:EMM, OTC:CATPF) announced it has identified multiple new oxide ore targets and successfully renewed six out of seven of its prospecting licenses in southern Botswana.
As part of the renewal process for the licenses, a remote sensing survey was carried out in the second quarter which identified anomalies in the company’s licenses that warrant a follow-up.
Before this survey, Giyani Metals had already identified three other potential manganese oxide ore sources within its licenses – Otse, Lobatse, and Mogobane – which could add to its K.Hill project.
The company noted the findings of the survey support its goal of extending the project’s 60-year life estimated in the 2023 Preliminary Economic Assessment (PEA).
“We are delighted to announce the identification of multiple new manganese oxide ore targets and the successful renewal of six out of seven of our prospecting licences across Southern Botswana,” Giyani CEO Charles FitzRoy said in a statement.
“This directly attests to our strong relationship with the Botswana Ministry of Mines, and our sincere commitment to unlock value from these areas. This further affirms our belief that Botswana offers exemplary infrastructure supporting the pathway to development, further cementing the country’s reputation as a Tier-1 mining jurisdiction.”
The seven prospecting licenses had been set to expire on September 30, 2024.
Giyani elected to relinquish one of the seven licenses, its smallest, as part of the renewal process after a recent analysis identified it was not prospective.
“We firmly believe, following preliminary work including a remote sensing survey, that these retained licences are prospective,” FitzRoy added.
“Relinquishing un-prospective licences allows us to consolidate our efforts and intensify our focus on our long-term strategy while satisfying the legislative requirements of the Botswana Ministry of Mines.”