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Giyani Gold Confirms and Expands New Gold Discovery

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Giyani Gold Confirms and Expands New Gold Discovery

 

 

 

 

Giyani Gold Corp. (TSXV: WDG) announce that the first hole drilled as part of their 2013 drilling program confirms and expands a New Gold Zone located on Giyani Gold’s Klein Letaba property in South Africa.

 

 

Hole KL13-21 intersected significant gold values of 6.92 g/t Au over 8.87 m, including 9.6 g/t Au over 5.02 m, expanding the New Gold Zone discovery initially made in September, 2012 by hole KL12-01 (13.16 g/t Au over 15.1 m).

 

 

Two additional holes (assays pending) have been drilled above and below holes KL12-01 and KL13-21 and show similar characteristics in mineralization to the aforementioned holes.  All drilling was conducted at shallow depths (less than 200m) and the New Gold Zone remains open to depth, up plunge and to the west.

 

 

The results of KL13-21 are summarized in the following table:

 

 

Depth

Sample

Au-AA23

Au-AA23

Au-GRA21

From (m)

To (m)

Length

Au (g/t)

Au Check (g/t)

Au (g/t)

174.81

175.81

1.00

>10.0

12.5

175.81

176.84

1.03

>10.0

9.97

176.84

177.86

1.02

7.95

9.31

8.99

177.86

178.82

0.96

1.67

178.82

179.83

1.01

>10.0

14.2

179.83

180.76

0.93

0.379

180.76

181.76

1.00

0.077

181.76

182.76

1.00

>10.0

11.45

182.76

183.78

1.02

1.92

213.93

214.93

1.00

5.56

214.93

215.62

0.69

2.17

 

 

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.

 

 

The New Gold Zone consists of silicification with flanking sulphide mineralization and quartz development with sulphides, hosted in garnet bearing basalts that are metamorphosed to amphibolite facies. The New Gold Zone occurs at the contact of the basalts and an intermediate fragmental volcanic unit. Hole KL12-01 intersected the New Gold Zone 187m vertically below surface, and in hole KL13-21 this intersection begins 36m up plunge from Hole KL12-01, or approximately 153 m vertically below surface.

 

 

Further drilling will be designed to expand and trace the New Gold Zone in a resource category.

 

Posted February 27, 2013

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