AIS Resources to Begin Drilling 1000M in First Week of March 2021 at Yalgogrin Gold Project Based on Excellent IP Geophysics ...
26 February 2021 - 12:30AM
A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the "Company" or
"AIS) is delighted to report that Fender Geophysics has completed
the Gradient Array Induced Polarization and Dipole-Dipole
Geophysics survey at EL5891 Yalgogrin gold project with
chargeability readings of 5-7.5mv/v over the targeted area that are
up to five times background values. The results are outstanding and
give us confidence to commit to a 800-1000m diamond drill program.
Drillit Consulting from Parkes NSW have been contracted to complete
the diamond drill program commencing the first week in March
2021.
“The results achieved by Fender Geophysics
Gradient Array survey are extremely encouraging,“ commented Phil
Thomas, CEO. “We have been able to combine the geophysics with
results from previously completed drill holes, on ground
observations, the large number of augur holes and soils
geochemistry to guide our understanding of the mineralization
system and give us confidence to drill test the selected
targets.”
Correlation with ground geology has identified
the peak chargeability associated with gossanous altered granite
that is mineralized with gold. There is a broad
spatial association of chargeability trends with gold in soil
geochemical anomalisms across the property.
The gradient array survey provides plan view
results which has enabled us to best locate the Dipole-Dipole
survey for interpreting results along 2D sections. Our independent
geophysicist is working on an inversion of the data to better
define the results at depth and integrate with the gradient array
geophysics. These results will be available in the next week or so
and will assist us to optimize drillhole placement.
Prior augur and drilling gold assays
include:
- § 0.5m @ 32.2 g/t Au from 1.5m.
- § 22m @ 1.9 g/t Au from 1m, including 1m @ 21.5 g/t Au.
- § 14m @ 2.6 g/t Au from 1m.
- § 9m @ 2.2 g/t Au from 1m, including 1m @ 13.3 g/t Au from
7m.
Our Immediate opportunity is to define a shallow
oxide gold resource, then the deeper high Grade gold resource
potential.
Fig 1. Yalgogrin is located in the Lachlan fold
belt near Cowal and Cadia gold
mines.https://www.globenewswire.com/NewsRoom/AttachmentNg/a2d221b3-58b0-4509-9b42-2acf82514b40
Fig 2. Gradient Array IP Chargeability with gold
in soil contour and 8 proposed drill hole
locations.https://www.globenewswire.com/NewsRoom/AttachmentNg/b0745a40-fbb8-4dc9-90b0-b2643da6f473
Fig 3. Gradient Array IP Resistivity with gold
in soil contour and 8 proposed drill hole
locations.https://www.globenewswire.com/NewsRoom/AttachmentNg/65f87e20-5253-4aa7-a7b9-958ba8cd8ddd
Technical information in this news release has
been reviewed and approved by Phillip Thomas, BSc Geol MAIG who is
a Qualified Person under the definitions established by the
National Instrument 43-101.
About A.I.S. Resources
LimitedA.I.S. Resources Limited is a publicly traded
investment issuer listed on the TSX Venture Exchange focused on
precious and base metals exploration. AIS’s value add strategy is
to acquire prospective exploration projects and enhance their value
by better defining the mineral resource with a view to attracting
joint venture partners and enhancing the value of its portfolio.
The Company is managed by a team of experienced geologists and
investment bankers, with a track-record of successful capital
markets achievements. In November 2020, AIS acquired the 58sqkm New
South Wales Yalgogrin Gold Project JV, the right to acquire the 28
sqkm Fosterville-Toolleen Gold Project located 10 km from Kirkland
Lakes Fosterville gold mine and the 167 sqkm Kingston Gold Project
in Victoria Australia near Stawell which settled in January 2021.
It has also acquired an option over 596 sq km of exploration
licence in western Victoria near Casterton where gold and other
minerals have been discovered.
A.I.S. Resources LimitedFor further
information, please contact:Phillip Thomas, Chief Executive Officer
Tel: +1-747-200-9412 Email: pthomas@aisresources.com OrMartyn
Element, Executive Chairman Tel: +1-604-220-6266Email:
melement@aisresources.com Website:
www.aisresources.com
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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 release.
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.
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