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AIS Resources Ltd
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Close 2021-03-23 C$ 0.08
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A.I.S. acquires 20% interest in Candela II licence

2021-03-23 10:29 ET - News Release

Mr. Phillip Thomas reports


A.I.S. Resources Ltd. has acquired from Tech One Lithium Resources Corp. a 20-per-cent interest in mining licence file No. 23262 (Candela II) covering three square kilometres on the Incahuasi salar in the lithium triangle in Argentina. The Candela II licence neighbours Gangfeng Lithium, China's largest producer of the battery metal, and Orocobre, a lithium producer in Argentina. Tech One Lithium Resources, a private company, has optioned the exploration licence for 12 months to complete due diligence and further exploration work and has the right to acquire 100 per cent of the property for $1-million (U.S.) ($1.3-million). The option fee paid by Tech One was $100,000 (U.S.) and a further fee of $100,000 (U.S.) payable by Tech One in six months.

Tech One has appointed A.I.S. as its operator and exploration team. A one-year exploration plan has already been outlined by A.I.S.'s technical team. Tech One can acquire the 20 per cent held by A.I.S. (for a total of 100 per cent) by paying $6-million (U.S.) to A.I.S. if there is a resource estimate of at least 45,000 tonnes of lithium metal equivalent, and this increases by $250,000 (U.S.) for each increment of 5,000 tonnes. Previous explorers have sampled brines between 270 parts per million and 300 parts per million from the top 50 metres of the salar.

Fast-track Ekosolve lithium processing facility

Tech One advises it has signed a facility fee agreement to utilize the Ekosolve lithium solvent exchange extraction process that can efficiently manage the processing of the brines to produce lithium carbonate with a grade higher than 99.2 per cent and a recovery of 97 per cent, far exceeding any ion exchange or adsorption process available to date. Ekosolve has demonstrated a three-hour residence time to produce lithium chloride, a base material for producing lithium carbonate. Tech One selected the process based on it being proved at the University of Melbourne using Argentine brines; the capital cost of a plant being significantly less than other processes available; and its modularity and the operational expenditure being in the mid $2,000 per tonne due to the ability to recover 95 per cent of the solvent for reuse. The near-zero carbon emission footprint is due to no evaporation ponds required and minimal input chemicals required to remove unwanted elements such as magnesium. Ekosolve is licensed to the University of Melbourne, Australia.

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 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. A.I.S. acquired a 60-per-cent interest in the 58-square-kilometre New South Wales Yalgogrin gold project joint venture (with the right to acquire 100 per cent) that is currently being drilled, the right to acquire the 28-square-kilometre Fosterville-Toolleen gold project located 10 kilometres from Kirkland Lake's Fosterville gold mine, which is undergoing a geophysics survey and 100-per-cent interest in 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. A.I.S. holds a 20-per-cent equity interest in the Incahuasi concession 23262 in the lithium triangle in Argentina, and its team are experienced explorers and producers of lithium carbonate.

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