A.I.S. Resources Limited announces Phase 2 exploration program beginning with an aggressive 1000 soil sample program to follow up on the high-grade antimony results at its Fosterville-Toolleen gold property. The multi-element results for the RC drilling program conducted at Toolleen have been processed using IoGas special-purpose software to measure the relationship between gold and the other elements such as …
A.I.S. Resources Limited ( TSX: AIS, OTCQB: AISSF ) (the “Company” or “AIS”) announces Phase 2 exploration program beginning with an aggressive 1000 soil sample program to follow up on the high-grade antimony results at its Fosterville-Toolleen gold property. The multi-element results for the RC drilling program conducted at Toolleen have been processed using IoGas special-purpose software to measure the relationship between gold and the other elements such as antimony and arsenic to direct the soil sampling program.
Martyn Element, Chairman of AIS Resources stated: “Given that antimony was the leading pathfinder element that led to the discovery of the Kirkland Lake Fosterville Gold Mine 1 , one of the world’s lowest cost high-grade gold producers, AIS is very encouraged by the exceptional antimony grade at its Fosterville-Toolleen gold property.”
AIS is planning follow-up soil sampling and then a RC drilling program in the vicinity of the higher-grade antimony (Sb) results continuing the traverse to the east and in the area of elevated gold in the southern traverse. AIS will use its XRF gun, a portable lab quality analyzer that measures element composition, to assess results in real-time and further refine our direction of exploration. On-Site Laboratory is awaiting samples for prompt ICP assay.
Phil Thomas, CEO said, “We have combined the RC drilling, soils and gravity structural geology to develop a robust rigorous exploration program for the coming months. This second phase of exploration will assist in developing our model of gold deposition in the Ordovician Permian lithology units around our Fosterville-Toolleen Gold Project. Ordovician lithology is a key characteristic of the Kirkland Lake Fosterville Gold Mine.”
Figure 1. A.I.S. Resources Fosterville-Toolleen Gold Project map shows location of Phase 2 soil sampling.
1 Source Kirkland Lake: The Fosterville Mine is a high-grade, low cost underground gold mine features growing gold production at increasingly high grades, as well as extensive in-mine and district scale exploration potential. Fosterville commenced operation in 2005 and current Mineral Reserves as at December 31, 2018, increased by a million ounces to 2.7 million ounces (2.7 million tonnes) at an average grade of 31.0 g/t, including a Mineral Reserve in the Swan Zone totalling 2.3 million ounces (1.47 million tonnes) at an average grade of 49.6 g/t.
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’ 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 our portfolio. The Company is managed by a team of experienced geologists and investment bankers, with a track-record of successful capital markets achievements.
AIS owns 100% of the 28 sq km Fosterville-Toolleen Gold Project located 12 km from Kirkland Lake’s Fosterville gold mine (subject to completion of certain exploration expenditures), a 60% interest in the 58 sq km New South Wales Yalgogrin Gold Project (with the right to acquire 100%), and 100% interest in the 167 sq km 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.
On Behalf of the Board of Directors,
A.I.S. Resources Ltd.
Phillip Thomas, President & CEO
For further information, please contact:
Phillip Thomas, Chief Executive Officer
T: +1-323 5155 164
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. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Company 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 forward-looking statements contained in this press release are made as of the date hereof and the Company 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 .
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