VANCOUVER, British Columbia, March 03, 2021 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSXV: AIS, OTCQB: AISSF) (the "Company" or "AIS”) is delighted to report that Drillit Consulting from Parkes NSW have mobilized their diamond drill rig and commenced drilling today for a 1,000m drill program on the highly prospective gold bearing Neighbours Farm Prospect, part of the 60% owned Yalgogrin Property on the Lachlan Fold Belt, NSW, Australia.
Phil Thomas, CEO commented, “We have been able to combine the geophysics with new 3D inversions to better target the drill holes where 32.2g/t Au have been recorded at 0.5m below surface at the Neighbours Farm Prospect. These geophysics results suggest a high probability of exceptional grades in the oxidized zone down to roughly 30m depth. Deeper drilling will also be carried out in the granites below to target the sulphide zone.”
Fig. 1 – Gradient Array-Dipole IP Chargeability with first drill hole location Yalgogrin Gold Property:
Fig. 2 – Yalgogrin Gold Property – Map of Historic Drill Holes and Results:
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 the National Instrument 43-101.
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’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 track-record of successful capital markets achievements. In November 2020, AIS acquired a 60% interest in the 58 km² New South Wales Yalgogrin Gold Project JV, the right to acquire the 28 km² Fosterville-Toolleen Gold Project located 10 km from Kirkland Lakes Fosterville gold mine and 100% interest in 167 km² Kingston Gold Project in Victoria Australia near Stawell which settled in January 2021. It has also acquired an option over 596 km² of exploration licence in western Victoria near Casterton where gold and other minerals have been discovered.
A.I.S. Resources Limited
For further information, please contact:
Phillip Thomas, Chief Executive Officer
Martyn Element, Executive Chairman
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. More particularly, this press release contains statements concerning the anticipated use of the proceeds of the Private Placement. Although the Corporation believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Corporation 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 intended use of the proceeds of the Private Placement by the Corporation might change if the board of directors of the Corporation determines that it would be in the best interests of the Corporation to deploy the proceeds for some other purpose. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation 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.
Fig.1 Fig. 1 - Gradient Array-Dipole IP Chargeability with first drill hole location Yalgogrin Gold PropertyFig. 2 Yalgogrin Gold Property – Map of Historic Drill Holes and Results