A.I.S. Resources Started Drilling Today on Yalgogrin Gold Property, Lachlan Fold Belt, NSW, Australia
March 03 2021 - 8:03PM
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:https://www.globenewswire.com/NewsRoom/AttachmentNg/a1aebeb3-fe14-4293-8f49-f0f460130e45
Fig. 2 – Yalgogrin Gold Property – Map of
Historic Drill Holes and
Results:https://www.globenewswire.com/NewsRoom/AttachmentNg/2a406142-820a-41a9-ac5a-0e5906928c41
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
LimitedA.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 LimitedFor
further information, please contact:Phillip Thomas, Chief Executive
Officer Tel: +1-747-200-9412 Email:
pthomas@aisresources.comOrMartyn Element, Executive ChairmanTel:
+1-604-220-6266Email: melement@aisresources.comWebsite:
www.aisresources.com
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.
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