A.I.S. Resources Completes 10.3 line km of DGPR Geophysics on Fosterville-Toolleen Property

 

A.I.S. Resources Limited ( TSX: AIS, OTCQB: AISSF ) (the "Company" or "AIS") announces that Derek Reeves, senior geophysicist, and his team Worldwide Geological Services completed 10.3 line kilometres of Deep Ground Penetrating Radar ("DGPR") to define the alluvial channels and geological structures on EL006001 ("EL" or "6001"). Permission to conduct the geophysics has kindly been provided by the vendor, Providence Gold and Minerals Pty Ltd, while waiting for the contract to complete.

 

Fig.1: https://www.globenewswire.com/NewsRoom/AttachmentNg/44f5d570-955f-40d8-a35b-035aedafd918  

 

DGPR (or non-dispersive EM wave propagation in the ground) is a geophysical technique offering images with excellent resolution in the sediments; up to 150m of the surface in ideal conditions and, routinely, 100m. On the EL, quartz reefs are known in the vicinity in addition to multiple older leads and they could both be the source of the nuggets at Toolleen. AIS constrained the scope of the radar to 50m to obtain finer resolution of the gold bearing structures. Initial results will be available within the next few days. The interpretation will include analysis of the petrophysical logs from previous drilling work.

 

Fig.2 : https://www.globenewswire.com/NewsRoom/AttachmentNg/c9fde1c1-097b-4d91-9231-5f30778b8eeb  

 

Fig.3: https://www.globenewswire.com/NewsRoom/AttachmentNg/db5f64c7-fdaf-45c5-9a1a-5927194bd341  

 

The IP geophysics for Yalgogrin, NSW has been booked for early January 2021. The area for the gradient array has been set out at EL5891 and ELA006030. The focus on ELA006030 is near the Asia-Wyalong mine shaft. The licence area has been unaffected by the recent heavy rains in northern NSW.

 

  About A.I.S. Resources Limited  
A.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, with a track-record of successful capital markets achievements. In November 2020, AIS received TSX-V approval to acquire the New South Wales Yalgogrin Gold Project JV, the Fosterville-Toolleen Gold Project and the Kingston Gold Project in Victoria Australia.

 

Phillip Thomas
CEO

 

  A.I.S. Resources ltd.  
For further information, please contact:
Phillip Thomas, Chief Executive Officer
Tel: +1-747-200-9412
Email: pthomas@aisresources.com  
Or
Martyn Element, Executive Chairman
Tel: +1-604-220-6266
Email: melement@aisresources.com  
Website:   www.aisresources.com   

 

  *   Fosterville Mine's past and present resources of 9Moz Au as reported by Earth Resources, Victoria State Government  

 

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 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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A.I.S. Resources

A.I.S. Resources

Overview

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.

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