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AIS Resources Ltd
Symbol AIS
Shares Issued 172,975,409
Close 2021-09-29 C$ 0.045
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A.I.S. Resources drills 13 m of 2.1 g/t Au at Yalgogrin

2021-09-29 11:02 ET - News Release

Mr. Phillip Thomas reports


A.I.S. Resources Ltd. has provided an updated report on exploration progress at the Yalgogrin gold project, New South Wales, Australia, in preparation for the reverse circulation drill program.

Nine diamond drill holes completed

Gold and multielement results for all nine diamond drill holes have been received for a total of 1,538 metres, 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 87 metres at 1.5 grams per tonne gold 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:

  • 13 metres at 2.1 g/t Au from 68 metres, including one metre at 6.4 g/t Au in YDD06;
  • 16 metres at 0.8 g/t Au from 104 metres, including 0.3 metre at 10 g/t Au in YDD07.

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 was not analyzed; 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 mineralized body has been intersected in drilling from surface to a vertical depth of 140 m 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).

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 Ltd.

A.I.S. Resources is a publicly traded investment issuer listed on the TSX Venture Exchange focused on precious and base metals 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 12 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 New South Wales Yalgogrin gold project (with the right to acquire 100 per cent), and 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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