A.I.S. Resources Ltd. (TSXV:AIS,OTCQB:AISSF)is a diversified resource company working to be a high-quality producer of precious metals and battery materials, particularly lithium, manganese and gold. To fulfill this goal, the company has assembled a team of highly-qualified professionals with a track record of success in exploration, production, commodity trading and capital markets. A.I.S. Resources is currently focused on developing its pair of gold projects in Australia, the Yalgogrin orogenic gold project and the Toolleen-Fosterville gold project.
The Yalgogrin orogenic gold project is located in the historic West Wyalong gold corridor, which produced 445,700 ounces of gold between 1894 and 1921. A.I.S. Resources has confirmed existing gold assays at Yalgogrin after reviewing 12 drill core samples from the property. The advanced-stage Yalgogrin gold project has seen extensive gold production over the past 100 years, including three major gold prospects that are in operation as of Q3 2020: Cadia Newcrest, the Lake Cowal gold mine and the Northparkes copper-gold mine.
Complementing A.I.S. Resources’ precious metals portfolio is the Toolleen-Fosterville gold project. The project is located only three kilometers from the township of Toolleen and 12 kilometers from the Kirkland Lake Fosterville gold mine, which hosts a resource of 7.58 million ounces of gold.
In addition to its gold projects, A.I.S. Resources is continuing to work towards extracting lithium using an advanced solvent extraction process, EkoSolveTM, that can achieve 95 percent lithium recovery rates. The technology allows producers to build 20,000-tonne plants without spending $550 million to $600 million on installing ponds and waiting 18 months for the brine to produce a four percent lithium concentrate.
A.I.S. Resources is also negotiating agreements to generate near-term cash flow opportunities through the trading of manganese lump. The company commenced shipping manganese oxide from the San Jorge mine in August 2019. A.I.S. Resources is waiting to complete its first Chinese Import Quarantine assessment which provides import credibility for the company to sell lump manganese. Contracts are paid by letter of credit once the ship departs from the port. A.I.S. Resources aims to ship 10,000 tonnes of manganese oxide per month after an initial trial of 5,000 tonnes and has plans to increase its capacity to 40,000 tonnes per month through spot trades, its own mines and joint ventures.
Mines and trading opportunities are being assessed by the geological team for near term production opportunities for delivery in southern Peru, Bolivia, Panama and Namibia.
In October 2019, A.I.S. Resources entered into an agreement to acquire a 51 percent interest in a gold mine in northern Peru. The mine has been worked in trenches and three underground shafts. Two grab samples from the Raw4 concession assayed 27 g/t gold and 466 g/t gold, and approximately 160 ounces of gold have been extracted from the two shafts in the adjacent concession in the last three months. A.I.S. Resources is currently conducting a review of the 5,888-hectare concession areas and plans to focus on developing one area initially.
Contributing to the company’s success is A.I.S. Resources President and CEO Philip Thomas brings his strong technical background in exploration geology, mine production and trading to the development of the company’s manganese and lithium technology assets. He is one of a few executives globally that has built and operated a lithium carbonate plant (in 2007). Thomas is also a certified mineral valuer, appraiser and geologist who has spent more than 15 years trading ores with Chinese corporations. Thomas has recently managed gold mines in Peru and Arizona.
A.I.S. Resources’ Company Highlights
- Signed an agreement to acquire a 60 percent interest of the Yalgogrin gold project for an AU$275,000 cash payment and four million A.I.S. common shares
- The project is being developed in the historic West Wyalong gold corridor of Australia, home to 445,7000 ounces of gold production between 1894 and 1921
- Yalgogrin project hosts three major gold prospects in operation as of Q3 2020: Cadia Newcrest, the Lake Cowal gold mine and the Northparkes copper-gold mine
- Assay results at Yalgogrin have been confirmed by A.I.S. Resources, including 12 drill core samples from EL5891
- Developing the Toolleen-Fosterville gold project in Australia, located only three kilometers from the township of Toolleen and 12 kilometers from the 7.58Moz Kirkland Lake Fosterville gold mine
- Multiple strategies to achieve near-term revenues through manganese trading, lithium process engineering and operating its joint venture gold mine
- Commenced manganese sales in August 2019.
- Aims to ship 5,000 tonnes of magnesium ore per month initially and intends to ramp-up its operations to 10,000 tonnes to 20,000 tonnes.
- Senior management is highly-skilled in exploration, geochemistry and lithium production techniques and have more than 17 years of experience working in Argentina in the lithium industry.
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