08:54:26 EST Sun 28 Nov 2021
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AIS Resources Ltd
Symbol AIS
Shares Issued 172,975,409
Close 2021-08-11 C$ 0.065
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A.I.S. Resources finds antimony at Fosterville-Toolleen

2021-08-11 12:19 ET - News Release

Mr. Phillip Thomas reports


A.I.S. Resources Ltd. has discovered elevated antimony levels in the eastern portion of the company's Fosterville-Toolleen gold project.

A.I.S. Resources chief executive officer Phil Thomas emphasized: "This is a major breakthrough for our exploration team's efforts at our [Fosterville-Toolleen] 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 grams per tonne. The Fosterville gold mine is only 10 kilometres and the Costerfield gold mine is 31 kilometres from our Fosterville-Toolleen gold project."

The company is very encouraged by an exceptionally high result of 510 parts per million antimony returned from drill hole TRC017 in weathered Ordovician rocks located at the eastern end of the northern traverse. The company has combined the RC (reverse circulation) drilling, soils and gravity structural geology to develop a robust rigorous exploration program for the coming months. The company is planning follow-up drilling in the vicinity of the higher-grade antimony results continuing to the east and in the area of elevated gold in the southern traverse.

The multielement assays were conducted to test for pathfinder elements associated with local gold deposits such as at the Fosterville and Costerfield operations. Typically, pathfinders such as antimony and arsenic exhibit a greater footprint than the ore-grade gold. Locating elevated areas of pathfinder mineralization is very helpful in guiding the focus of exploration. Technical information in this news release has been reviewed and approved by Phillip Thomas, BSc (geology), FAusIMM, MAIG, MAIMVA (CMV), 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 the company's portfolio. The company is managed by a team of experienced geologists and investment bankers with a record of successful capital markets achievements. A.I.S. owns 100 per cent of the 28-square-kilometre Fosterville-Toolleen gold project, located 10 kilometres from Kirkland Lake's Fosterville gold mine (subject to completion of certain exploration expenditures), a 60-per-cent interest in the 58-square-kilometre Yalgogrin gold project in New South Wales (with the right to acquire 100 per cent), and a 100-per-cent interest in the 167-square-kilometre 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.

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