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AIS Resources Ltd
Symbol AIS
Shares Issued 136,442,909
Close 2021-02-25 C$ 0.08
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A.I.S. Resources to begin Yalgogrin drilling in March

2021-02-25 12:14 ET - News Release

Mr. Phillip Thomas reports


Fender Geophysics has completed a gradient array induced polarization and dipole-dipole geophysics survey at A.I.S. Resources Ltd.'s EL5891 Yalgogrin gold project, with chargeability readings of five to 7.5 millivolts per volt over the targeted area, which are up to five times background values. The results are outstanding and give the company confidence to commit to an 800-metre to 1,000-metre diamond drill program. Drillit Consulting from Parkes, New South Wales, has been contracted to complete the diamond drill program commencing the first week of March, 2021.

"The results achieved by Fender Geophysics' gradient array survey are extremely encouraging," commented Phil Thomas, chief executive officer of A.I.S. Resources. "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 have enabled the company to best locate the dipole-dipole survey for interpreting results along 2-D sections. The company's 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 the company to optimize drill hole placement.

Prior augur and drilling gold assays include:

  • 0.5 metre of 32.2 grams per tonne gold from 1.5 metres;
  • 22 metres of 1.9 grams per tonne gold from one metre, including one metre of 21.5 grams per tonne gold;
  • 14 metres of 2.6 grams per tonne gold from one metre;
  • Nine metres of 2.2 grams per tonne gold from one metre, including one metre of 13.3 grams per tonne gold from seven metres.

The company's immediate opportunity is to define a shallow oxide gold resource, then the deeper high-grade gold resource potential.

Technical information in this news release has been reviewed and approved by Phillip Thomas, BSc (geology), MAIG, who is a qualified person under the definitions established by National Instrument 43-101.

About A.I.S. Resources Ltd.

A.I.S. Resources is a publicly traded investment issuer listed on the TSX Venture Exchange focused on precious metal and base metal exploration. A.I.S.'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 record of successful capital market achievements. In November, 2020, A.I.S. acquired the 58-square-kilometre New South Wales Yalgogrin gold project joint venture; the right to acquire the 28-square-kilometre Fosterville-Toolleen gold project located 10 kilometres from Kirkland Lake's Fosterville gold mine; and the 167-square-kilometre Kingston gold project in Victoria, Australia, near Stawell, which settled in January, 2021. It has also acquired an option over 596 square kilometres of exploration licence in western Victoria near Casterton, where gold and other minerals have been discovered.

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