VANCOUVER, British Columbia,
Mar. 22, 2018 /CNW/ -- A.I.S.
Resources Limited (TSX-V – AIS, OTCQB: AISSF) (the "Company" or
"AIS") is pleased to announce final interpretation of geophysics at
Chiron. The company's fundamentals have not changed, but improved,
and it remains on target with its timelines to become a lithium
carbonate producer in the first quarter of 2020.
Chiron Project Update
Final Interpretation of Geophysics
The TEM (transient electromagnetic survey) testing has detected
substantial aquifers over a broad area at its Chiron Project in the
Pocitos Salar, Salta Province,
Argentina. Low resistivity
sequences at 10 meters, 20 meters and 100 meters are interpreted as
rich sandy acquifers. See below.
The surface acquifer can easily be seen but it is quite narrow
in comparison to the acquifer at 3605m MASL (meters above sea level) which is 80
metres in depth. These extremely low values suggest the brines are
highly conductive and not consolidated at this depth. We would
expect middle size grains of sand and some clay components (that
improve conductivity).
The brines at the southern end of the concession have built up
close to the tectonic/fault structure adjacent to the concessions.
The geological model of the alluvial fans filling the basin with
sands and lithium bearing minerals from the local ignimbrites and
andesites is consistent with a porous sandy medium.
Drilling at Chiron
The Puna region has experienced unusually high levels of rains
due to "La Ninã" weather patterns over the last several
weeks. The company is ready to mobilize a drilling crew as
soon as the Salar dries and drill pads are in. All the
necessary permitting is in place and drill hole locations have been
finalized. The company has sufficient funds to carry out the
drilling program. A total of 3200 meters is planned across all
tenements.
Guayatayoc Permit Update
The company has completed all the necessary requirements under
current mining legislation for the approval of its drilling permit
and we are waiting for the Government of Jujuy to set the date for
our UGAMP meeting. The meeting is comprised of several
government agencies, communities and the company to discuss the
project and final approval of a drilling permit.
Qualified Person
Phillip Thomas, BSc Geol, MBusM, MAIG, MAIMVA, (CMV), a
Qualified Person as defined under NI 43-101 regulations, has
reviewed the technical information that forms the basis for
portions of this news release, and has approved the disclosure
herein. Mr. Thomas is not independent of the Company as he is an
officer and shareholder.
On Behalf of the Board of Directors,
A.I.S. Resources Limited
Marc Enright-Morin
President and CEO
About A.I.S. Resources
A.I.S Resources Limited a TSX-V listed investment issuer, was
established in 1967 and is managed by experienced, highly qualified
professionals who have a long track record of success in lithium
exploration, production and capital markets. Through their
extensive business and scientific network, they identify and
develop early stage projects worldwide that have strong potential
for growth with the objective of providing significant returns for
shareholders. The Company's most recent activities have been the
exploration of lithium properties in Northern Argentina.
Contact
A.I.S. Resources Limited
Marc Enright-Morin
President and CEO
T: 778-892-5455
E: memorin@aisresources.com
W: www.aisresources.com
ADVISORY: This press release contains
forward-looking statements. More particularly, this press release
contains statements concerning the anticipated use of the proceeds
of the Private Placement. Although the Corporation believes that
the expectations reflected in these forward-looking statements are
reasonable, undue reliance should not be placed on them because the
Corporation can give no assurance that they will prove to be
correct. Since forward-looking statements address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. The intended use of the proceeds of the Private
Placement by the Corporation might change if the board of directors
of the Corporation determines that it would be in the best
interests of the Corporation to deploy the proceeds for some other
purpose. The forward-looking statements contained in this press
release are made as of the date hereof and the Corporation
undertakes no obligations to update publicly or revise any
forward-looking statements or information, whether as a result of
new information, future events or otherwise, unless so required by
applicable securities laws. Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Contact
A.I.S. Resources Limited
Marc Enright-Morin
President and CEO
T: 778-892-5455
E: memorin@aisresources.com
W: www.aisresources.com
SOURCE A.I.S. Resources Limited