A.I.S. Resources Announces Option Payment, Start of Exploration Campaign, Adds Lithium to its Mining Licences and Appoints New Director
Vancouver, British Columbia – October 31, 2016 – A.I.S. Resources Limited (TSX – NEX: AIS.H) (the “Company” or “AIS”) is pleased to announce AIS has made the $150,000 option payment to the vendor in Argentina and appointed Philip Thomas to its board of directors. The Company has also added lithium minerals to its mining licences and commenced Phase 1 exploration on Guayatayoc.
The CEO of the company, Marc Enright-Morin said, “We are pleased to kick off our exploration campaign in such a short period of time post acquisition. The addition of Mr. Thomas to the board will strengthen our position moving forward. Having lithium mining licences under our belt will help fast track the project. These will be exciting months for the Company and its shareholders.”
The Jujuy mining court has accepted the addition of lithium and potassium minerals to the Company’s existing mining licences. This is a major milestone for the Company, enabling AIS to progress rapidly through all exploration stages.
The initial stages of exploration will consist of systematic sampling using pits, 4 to 5 metres deep, excavated on a 500 to 1000 meter grid, with subsequent selective infill pits at 100 to 250 metres spacing.
Deliverables from the above exploration will include:
- Report and analysis of multiple brine samples.
- Complete lithium and chemistry isoconcentration maps.
- Drill locations.
Positive studies from the above will give us the necessary information required for a drill campaign with the goal of outlining a 43-101 Inferred and Indicated Resource of lithium.
Mr. Phillip Thomas, BSc (geology), MBusM, MAIG, MAIMVA, MCIM, CMV specializes in finance and capital raising; management of mining companies; planning and development. He was actively engaged in developing two major lithium projects in Argentina and has been active in three lithium projects in the last four years. Mr. Thomas has specialized in the exploration, development, financing and sales of lithium deposits within the public company structure. He has extensive knowledge of the lithium carbonate markets in Japan, Korea, China and Taiwan. From 2003 to 2008, he was chief executive officer of Admiralty Resources, worked on the Rincon salar project in Argentina and prepared the bankable feasibility study for the exploitation of the Salar del Rincon. He raised more than $6-million for this project and sold it in 2008. He and his team constructed a laboratory pilot plant and developed a process to evaporate the brines in half the usual time. Mr. Thomas holds a master of business marketing with high distinction from Monash University, a bachelor of science in geology and a diploma in finance. He is a member of the Australian Institute of Geoscientists and a certified mineral valuer with the Australasian Institute of Mineral Valuers and Appraisers.
About A.I.S. Resources
A.I.S Resources Limited a TSX-V listed investment issuer, was established in 1967 and is managed by seasoned professionals who have a long track record of success in the capital markets. Through their extensive business network, they identify and develop early stage projects worldwide that have strong potential for growth with the objective of providing returns for shareholders.
A.I.S. Resources Limited
President and CEO
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.