VANCOUVER, British Columbia, Aug. 11, 2021 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSXV: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces the discovery of elevated antimony levels in the eastern portion of the Company’s Fosterville-Toolleen Gold Project.
AIS Resources CEO Phil Thomas emphasized, “This is a major breakthrough for our exploration team’s efforts at our Toolleen Fosterville 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 g/tonne. The Fosterville Gold Mine is only 10 km and the Costerfield Gold Mine is 31 km from our Fosterville Toolleen Gold Project.”
We are very encouraged by an exceptionally high result of 510 ppm Antimony (Sb) returned from Drill Hole TRC017 in weathered Ordovician rocks located at the eastern end of the northern traverse. The Company has combined the RC drilling, soils and gravity structural geology to develop a robust rigorous exploration program for the coming months. We are planning follow-up drilling in the vicinity of the higher-grade Antimony (Sb) results continuing to the east and in the area of elevated gold in the southern traverse.
Figure 1– Gravity survey with drill hole locations and antimony values of up to 510 ppm.
https://www.globenewswire.com/NewsRoom/AttachmentNg/b4791930-d73b-470f-b656-a6ecda733b15
The multi-element 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 mineralisation is very helpful in guiding the focus of exploration.
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 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 10 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
Corporate Contact
For further information, please contact:
Phillip Thomas, Chief Executive Officer
T: +1-323 5155 164
E: pthomas@aisresources.com
Or
Martyn Element. Chairman
T: +1-604-220-6266
E: melement@aisresources.com
Website: www.aisresources.com