Giyani Gold Corp. Drill Results from New Gold Zone at Klein Letaba
28.03.2013 | CNW
OAKVILLE, ON, March 28, 2013 /CNW/ - Giyani Gold Corp. (TSXV: WDG) ("Giyani Gold") is pleased to announce results from drill holes KL13-22 and KL13-23 and the completion of hole KL13-24 as part of the ongoing 2013 drilling program at Giyani Gold's Klein Letaba property located in South Africa.Hole KL13-22 and Hole KL13-23 were drilled to continue to trace and expand the New Gold Zone ("New Gold Zone") originally discovered on the Klein Letaba property in hole KL12-01 (13.16 g/t Au over 15.1m) and further expanded by hole KL13-21 (6.92 g/t Au over 8.87m). Hole KL13-22 intersected the upper edge of the New Gold Zone 35m up plunge from hole KL12-01 and intersected 4.09 g/t Au over 1m within a wide anomalous gold zone of 0.65 g/t Au over 15.46m. Hole KL13-23 intersected the New Gold Zone 35m down plunge from hole KL12-01 and intersected 25.5 g/t Au over 1m within a wide anomalous gold zone of 1.78 g/t Au over 17.48m. The results from these holes indicate that the western margin of the New Gold Zone remains open for further expansion and will require further definition in the future.
Assays Results from KL13-22 include:
Hole Sample From To Interval Gold Gold Check Assay
Number Number (m) (m) (m) (g/tonne) (g/tonne)
KL13-22 651506 178.54 179.55 1.01 0.343
KL13-22 651507 179.55 180.55 1 0.342
KL13-22 651508 180.55 181.49 0.94 0.426
KL13-22 651509 181.49 182.49 1 0.422
KL13-22 651510 182.49 183.48 0.99 0.408
KL13-22 651511 183.48 184 0.52 0.774
KL13-22 651512 184 185 1 0.198
KL13-22 651513 185 186.26 1.26 0.234
KL13-22 651514 186.26 187.23 0.97 0.329
KL13-22 651515 187.23 188 0.77 0.098
KL13-22 651516 188 189 1 0.101
KL13-22 651517 189 189.66 0.66 0.704
KL13-22 651518 189.66 190.66 1 0.642
KL13-22 651520 190.66 191.66 1 3.75 4.09
KL13-22 651521 191.66 192.77 1.11 0.763
KL13-22 651522 192.77 194 1.23 0.526
Total Overall Zone 15.46 0.65
Assays Results from KL13-23 include:
Hole Sample From To Interval Gold Gold Check Assay
Number Number (m) (m) (m) (g/tonne) (g/tonne)
KL13-23 651629 253 254 1 0.218
KL13-23 651630 254 255 1 0.410
KL13-23 651631 255 256 1 0.225
KL13-23 651632 256 257 1 >10.0 25.5
KL13-23 651633 257 258 1 0.239
KL13-23 651634 258 259 1 0.561
KL13-23 651635 259 260 1 0.892
KL13-23 651636 260 261 1 1.97
KL13-23 651637 261 262 1 0.089
KL13-23 651638 262 263 1 0.065
KL13-23 651639 263 264 1 0.089
KL13-23 651640 264 265 1 0.084
KL13-23 651641 265 266 1 0.177
KL13-23 651642 266 266.94 0.94 0.132
KL13-23 651643 266.94 268 1.06 0.135
KL13-23 651645 268 268.87 0.87 0.094
KL13-23 651646 268.87 269.47 0.6 0.211
KL13-23 651647 269.47 270.48 1.01 0.136
Total Overall Zone 17.48 1.78
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. True width is estimated to be 66 % of the sample width.
Results from holes KL13-22 and KL13-23 are comparable in mineralization to the results previously announced in Hole KL12-14 of 10.30 g/t Au over 0.84m within a wide anomalous gold zone of 0.825 g/t Au over 30m.
The new Gold Zone is now believed to be extensive based on mineralization visible in Hole KL13-24, 120m east and 350m down plunge of hole KL12-01. Further discussions detailing the mineralization in Hole KL13-24 and the relationship between this hole and the New Gold Zone will be presented once assays have been completed.
Giyani Gold and their state owned partner, Corridor Mining Resources, share all exploration expenditures on the Klein Letaba property on an equal basis.
As part of Giyani Gold's Quality Assurance and Quality Control procedures (QA/QC), all intervals exceeding 3 grams Au have been re-assayed. In addition, systematic re-assaying of intervals is conducted to confirm the compliance of blanks and duplicate checks. Giyani Gold's QA/QC includes the insertion and continual monitoring of numerous standards and blanks are duplicated into the sample stream every 50m.
Cross sections and correlations between these holes 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 historic 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 Johannesburg ("ALS") . All drill samples are prepared and screened by ALS and are assayed using fire assay and multi-element ICP-MS by ALS. ALS also performs internal QA/QC.
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 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 QA/QC 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.
For further information:
Luke Vigeant, Head of Communications
Giyani Gold Corp.
Tel: 1.905.844.1456 X237
Email: lvigeant@giyanigold.com
Chuck Allen, President
Giyani Gold Corp.
Tel: 1.905.844.1456 X223
Email: callen@giyanigold.com