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A.I.S. Resources Limited ( TSX: AIS, OTCQB: AISSF ) (the "Company" or "AIS") provides an updated report on exploration progress at Yalgogrin Gold Project, NSW Australia in preparation for the RC drill program.
Nine Diamond Drill Holes Completed
Gold and multi-element results for all 9 diamond drillholes have been received for a total of 1,538m including one hole at the Asia Wyalong mine.
Structural geology observations indicate gold mineralization is controlled by alteration within the granite and veins with multiple orientations. The best results were returned from the Neighbours Farm prospect which were following up on previously reported 87m @ 1.5 g/t Au in YDD01 . YDD01 appeared to be drilled down dip of the mineralization, and this was confirmed in subsequent drilling in DDH YDD06 and YDD07.
Best results included:
13m @ 2.1 g/t Au from 68m including 1m @ 6.4 g/t Au in YDD06, and
16m @ 0.8 g/t Au from 104m including 0.3m @ 10 g/t Au in YDD07.
Figure 1 – The section shows the IP chargeability trend from conducting sulphides that contain gold mineralisation, the untested areas, the structural controls and high chargeability trend near the 32 gm/t gold sample and the multidirectional structural controls through the 87m at 1.5 g/t gold.
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Asia-Wyalong Mine
A DDH of 92 metres was completed and encountered very difficult drilling conditions. Some core was lost, due in part to shear zones with significant core loss in areas of large quartz veining so this core wasn't analysed, however significant quartz veining is associated with elevated pathfinder metals. Further exploration will utilize reverse circulation to locate down plunge position of the gold mineralization.
New RC Drill program
The gold mineralised body has been intersected in drilling from surface to a vertical depth of 140m at Neighbours Farm and now requires further drilling to determine the true width and dimensions where previous surface auger showed high grade shallow results (32 g/t and 12 g/t Au).
Figure 2 – Blue dots show location of 29 RC drill holes proposed for the new RC drill program. Results will initially be analysed using XRFp to assist with drill program. The brown background is elevated lead values that correlate with gold mineralisation. Historic mines are shown as blue crosses.
https://www.globenewswire.com/NewsRoom/AttachmentNg/43e6d1a2-db4b-4183-b9d0-d8cda33a93b7
Technical information in this news release has been reviewed and approved by Phillip Thomas, BSc Geol FAusIMM MAIG MAIMVA(CMV) who is a Qualified Person under the definitions established by the National Instrument 43-101.
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' 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 our portfolio. The Company is managed by a team of experienced geologists and investment bankers, with a track-record of successful capital markets achievements.
AIS owns 100% of the 28 sq km Fosterville-Toolleen Gold Project located 12 km from Kirkland Lake's Fosterville gold mine (subject to completion of certain exploration expenditures), a 60% interest in the 58 sq km New South Wales Yalgogrin Gold Project (with the right to acquire 100%), and 100% interest in the 167 sq km Kingston Gold Project in Victoria Australia near Stawell and Navarre. It also has joint venture interests with Spey Resources Corp in lithium brines in Argentina at Incahuasi and Pocitos Salars.
On Behalf of the Board of Directors,
A.I.S. Resources Ltd.
Phillip Thomas, President & CEO
Corporate Contact
For further information, please contact:
Phillip Thomas, Chief Executive Officer
T: +1-323 5155 164
E: pthomas@aisresources.com
Or
Martyn Element. Chairman
T: +1-604-220-6266
E: melement@aisresources.com
Website: www.aisresources.com
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. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Company 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 forward-looking statements contained in this press release are made as of the date hereof and the Company 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 .
Figure 1: Drill Holes recently completed near the Swanson Gold Deposit
Figure 2: Swanson drilling target regions and proposed 2025 drill holes (in blue)