australian diamond portfolio

AIS Resources’ Australian Yalgogrin Gold Project’s first drill hole returns gold intercepts averaging 1.5g/t over 87 meters including 0.9 meters at 9.3 g/t

A.I.S. Resources Limited ( TSX: AIS, OTCQB: AISSF ) (the “Company” or “AIS) reports that the assay analysis from YDD1 at Neighbour’s Farm historic mine workings, the first diamond drill hole at its Yalgogrin Gold Project, NSW, Australia has been completed by SGS Australia. Extensive gold mineralisation was intersected from 58m through to the end of hole at 162.3m with gold mineralisation remaining open at depth and returning gold Intercepts over 87m averaging 1.5gt. The best individual grades returned up to 9.3 gt Au that are supported by consistent mineralisation hosted within the altered rock mass.

A summary of the intervals and average assays is set out below from the top of the core:

Hole ID comment Interval
From
(m)
Interval
To (m)
Drilled
Thickness
(m)
Gold Grade
(grams/tonne)
  YDD001       58    88    30    1.5  
  includes 63 71 8 1.8
  includes 73 74 1 5.3
  includes 80 88 8 2.5
  YDD001       90    101    11    2.2  
  includes 90 91 1 1.6
  includes 94 101 7 3.0
  which includes 96 97 1 8.3
  YDD001       105    151    46    1.4  
  includes 108 109 1 3.5
  includes 111.4 112.7 1.3 5.0
  Includes 112.7 113.6 0.9 9.3
  includes 113.6 114.3 0.7 4.6
  includes 114.3 121 6.7 1.0
  includes 127 139 12 1.5
YDD001   153 162.3* 9.3 0.6

  Notes: Intervals calculated using 0.3 g/t lower cutoff, include up to 1m of internal dilution  
* gold mineralisation was present in end of hole.  

Phil Thomas, CEO commented, “This hole was a great success, the ubiquitous gold is closely associated with disseminated sulphides in the altered rock mass and higher grades are associated with veining. Extensive sericite-muscovite-carbonate-chlorite alteration in the granite is hosting disseminated pyrite-arsenopyrite-sphalerite-galena sulphides which clearly explain the elevated IP chargeability results and provide confidence for further exploration utilizing the IP survey. We are building our model of structural controls directing the mineralisation corridors and so are defining the character of what is a promising gold mineralizing system. The drill program is testing various locations of the high conductivity zones from the IP survey completed earlier this year. This will assist us in subsequent drilling programs. In total 1,000m of drilling has been planned for the initial framework drilling program and the results of this first hole gives us great confidence to continue to drill out the target to define the extent of the mineralized zone.

We are currently processing samples for lab submission from drill hole YDD2 that was drilled 90 degrees to the azimuth of YDD1 and YDD3 is currently at 162m depth near the Adelaide mine area. Thin sections are being prepared of the sulphide-gold mineralisation so we can better understand the mineralisation and metallurgy for ore processing.

Soil geochemical sampling work is being carried out to refine drill targets and we have commenced work in the Asia Wyalong area where we have 56 sq kilometers of exploration license.”

Fig 1. YDD1 drill hole with gold assays intervals:
https://www.globenewswire.com/NewsRoom/AttachmentNg/00003b59-2779-4c51-abe6-32671b128519  

Fig 2. Drillhole location and downhole trace on chargeability image from IP survey (red indicates high chargeability blue indicates low chargeability)
https://www.globenewswire.com/NewsRoom/AttachmentNg/d5ce318b-37e2-4d7b-93cd-a98974421e36  

  Fosterville-Toolleen
A successful ground based gravity survey was completed at Fosterville-Toolleen to complement the Deep Ground Penetrating Radar results and the interpretation of the key features identified in the gravity survey is currently being completed.

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 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 and investment bankers, with a track-record of successful capital markets achievements. In November 2020, AIS acquired a 60% interest in the 58sqkm New South Wales Yalgogrin Gold Project JV (with the right to acquire 100%), the right to acquire the 28 sqkm Fosterville-Toolleen Gold Project located 10 km from Kirkland Lakes Fosterville gold mine and 100% interest in 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 Limited  
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   

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.  

 

  Primary Logo 

News Provided by GlobeNewswire via QuoteMedia

AIS:CA
The Conversation (0)
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.

Keep reading...Show less

Exploring and Expanding Australian Gold Assets

A.I.S. Resources - Appoints Martyn Element CEO and President

A.I.S. Resources - Appoints Martyn Element CEO and President

 

A.I.S. Resources Limited ( TSXV: AIS, OTCQB: AISSF ) (the "Company" or "AIS") is pleased to announce the appointment of Martyn Element as CEO and President of the Company.

 

Martyn Element has served as Chairman of AIS since 2014. Martyn has been instrumental in raising over a half billion dollars in financing for public and private companies. Martyn brings a skill set of identifying needs and developing strategic plans and has a proven track record of successfully advising and marketing business ventures. He has cultivated an extensive global network of investment and financial contacts and developed strong working relationships with specialized funds and parties in the mining space.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

AIS Resources' RC Drilling Program Returns Exceptionally High Levels of Antimony in the Eastern Portion of the Fosterville-Toolleen Gold Project

 

A.I.S. Resources Limited ( TSXV: AIS, OTCQB: AISSF ) (the "Company" or "AIS") announces the discovery of elevated antimony levels in the eastern portion of the Company's Fosterville-Toolleen Gold Project.

 

AIS Resources CEO Phil Thomas emphasized, "This is a major breakthrough for our exploration team's efforts at our Toolleen Fosterville Gold Project. It is well known that antimony is a key pathfinder for gold as is evident at the neighbouring Kirkland Lake Fosterville Gold Mine and the Mandalay Resources Costerfield Gold Project . Antimony was the biggest pathfinder element for the Kirkland Lake Fosterville Gold Mine discovery. Costerfield is producing both gold and antimony with a gold grade of 15 g/tonne. The Fosterville Gold Mine is only 10 km and the Costerfield Gold Mine is 31 km from our Fosterville Toolleen Gold Project."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

A.I.S. Resources' Optionee Spey Resources Prepares for Drilling at Incahuasi Lithium Salar, Argentina

 

A.I.S. Resources Limited ( TSXV: AIS, OTCQB: AISSF ) (the "Company" or "AIS") announces the Company's optionee Spey Resources Corp. (Spey) has engaged Amaru Mining Services and preparations are being made to commence drilling at the Incahuasi Salar, Argentina in the next three weeks. The drilling will take place in the locations shown below:

 

  Figure 1: Red stars show drill hole locations 1 -5
  https://www.globenewswire.com/NewsRoom/AttachmentNg/c73a3793-c98f-4d5f-9d6d-33a0fafacd0c  

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

A.I.S. Resources Announces ISIN & CUSIP Change

 

A.I.S. Resources Limited ( TSXV: AIS, OTCQB: AISSF ) (the "Company" or "AIS") announces that effective July 9, 2021 the Company's ISIN changed from "BS0014301076" to " CA0014311058 ". Concurrently, the Company's CUSIP changed from "001430107" to " 001431105 ".

 

The change was due to a change of jurisdiction. There was no change in the Company's name, no change in its trading symbol and no consolidation of capital.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

A.I.S. Resources Closes Oversubscribed Financing

 

A.I.S. Resources Limited ( TSXV: AIS, OTCQB: AISSF ) (the "Company" or "AIS") announces the Company has closed its oversubscribed non-brokered private placement of 10,547,500 units ("Units") at a price of $0.08 per unit for gross proceeds of $843,800 (the "Private Placement"). The proceeds will be used for exploration of the Company's Australian gold projects and for general working capital purposes.

 

Martyn Element, Chairman of the Board stated, "We are pleased to close this oversubscribed placement. The funds will enable us to aggressively pursue our exploration and development program on our highly prospective Australian gold properties."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Bert Dohmen

Bert Dohmen: Gold, Silver Key as Stock Market Bull Trap Looms

Bert Dohmen, founder and CEO of Dohmen Capital Research, sees physical gold and silver as key safe havens as a potential bull trap in the broad stock market plays out.

"We said we're probably going to go to a new high in a major, widely watched index like the S&P 500 (INDEXSP:.INX). It's going to be by a small amount a new high, and that's going to close the bull trap," he said.

Keep reading...Show less
Gold bars on financial charts and a notebook.

Top 5 ASX Gold Stocks of 2025

Gold continued to perform well through the second quarter of 2025, reaching a new all-time high of AU$5,425 per ounce on April 22.

The price surge has occurred amid volatile equity and financial markets since the start of the year, driven by concerns over a global trade war and escalating geopolitical tensions in the Middle East.

The rising gold price has also been supported by uncertainty over a looming debt crisis in the United States. Some investors have turned away from dollar-denominated haven assets, such as US Treasuries, in favour of precious metals like gold.

Keep reading...Show less
Gold nugget displayed on an antique balance scale with a dark background.

Meeka Metals Reports First Gold Pour at Murchison Project

Meeka Metals (ASX:MEK) has poured the first gold at its flagship Murchison project in Western Australia.

The pour happened on Tuesday (July 1), and in a Wednesday (July 2) press release, the company said the project’s production is in line with schedule, happening within 12 months of breaking ground.

Murchison sits near several multimillion-ounce gold mines and hosts a large, high-grade resource of 1.2 million ounces at 3 grams per tonne (g/t) gold on granted mining leases.

Keep reading...Show less
Sun Summit Minerals (TSXV:SMN)

Sun Summit Minerals

Keep reading...Show less

Latest Press Releases

Related News

×