AIS Resources Initiates Exploration Program with Tech One Lithium Resources Corp. at Incahuasi Lithium Salar, Argentina
April 01 2021 - 8:00AM
A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the "Company" or
"AIS") and Tech One Lithium Resources Corporation (“Tech One”), is
delighted to report that the Company has commenced exploration at
the Candela II property at Incahuasi Salar (salt lake).
In summary, AIS earned a 20% interest in Mining
Licence File Number 23262 covering 3 sq kilometres on the Incahuasi
Salar in the lithium triangle in Argentina by negotiating the
property, and developing an exploration and processing plan for
Tech One. Initially a US$450,000 budget will be spent by Tech One
on TEM geophysics, drilling and brine analysis. A 200 litre sample
is being collected for Ekosolve the selected processor to process
the brines at the University of Melbourne pilot facility, chemical
engineering department in Australia.
Gangfeng Lithium, China’s largest producer of
the battery metal, Orocobre, a lithium producer in Argentina and
PepinNini an ASX explorer all have mining licences on the Incahuasi
Salar. Tech One Lithium Resources Corporation (“Tech One”), has
optioned the Exploration license for 12 months to complete due
diligence and further exploration work, and has the right to
acquire 100% of the property for USD one million dollars (CAD1.3
million). The option fee paid by Tech One was US$100,000 and a
further fee of US$100,000 payable by Tech One in six months time.
AIS has received the first payment for exploration.
Fig 1. Concession Map of main land holders and
Incahuasi
Salar:https://www.globenewswire.com/NewsRoom/AttachmentNg/c25afec3-1067-4075-a438-0f669e80a313
Previous explorers have sampled brines between
270-300ppm, from the top 50 metres of the Salar.
Fig 2. 20 point, 3 line TEM resistivity survey,
with a point station every 175m, Lines 100m
apart:https://www.globenewswire.com/NewsRoom/AttachmentNg/e84162e2-8dbb-4173-9733-bfd38761b8c3
Fast Track Ekosolve Lithium Processing
Facility Tech One advises they have signed a facility fee
agreement to utilize the Ekosolve™ lithium Solvent Exchange
Extraction process that can efficiently manage the
processing of the brines to produce lithium carbonate with a grade
higher than 99.2% and a recovery of 97% far exceeding any ion
exchange or adsorption process available to date. Ekosolve™ is
licensed to University of Melbourne, Australia.
The key advantage of the Ekosolve system is the
high rate of lithium yield at 97% and 95% of the solvent is
reclaimed. Other systems such as adsorption achieve 72-80%,
fractional crystallization 50-70%, and ion exchange up to 90%. In
adsorption and ion exchange extra processes may be required to
manage the magnesium and boron in the brines whereas this is not an
issue with the Ekosolve process. Hence the capital and operation
expenditure is usually much lower. There are no ponds required
which is a more eco-friendly solution.
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. AIS acquired a 60%
interest in the 58sqkm New South Wales Yalgogrin Gold Project JV
(with the right to acquire 100%) that is currently being drilled,
the right to acquire the 28 sqkm Fosterville-Toolleen Gold Project
located 10 km from Kirkland Lakes Fosterville gold mine which is
undergoing a geophysics survey and 100% interest in 167 sqkm
Kingston Gold Project in Victoria Australia near Stawell which
settled in January 2021. It has also acquired an option over 596 sq
km of exploration licence in western Victoria near Casterton where
gold and other minerals have been discovered. AIS holds a 20%
equity interest in the Incahuasi concession 23262 in the lithium
triangle in Argentina and its team are experienced explorers and
producers of lithium carbonate.
A.I.S. Resources LimitedFor further
information, please contact:Phillip Thomas, Chief Executive Officer
Tel: +1-747-200-9412 Email: pthomas@aisresources.com OrMartyn
Element, Executive Chairman Tel: +1-604-220-6266Email:
melement@aisresources.com Website: 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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