A.I.S. Resources Commences RC Drill Program at Fosterville-Toolleen Gold Project
November 4, 2021
Vancouver, British Columbia – A.I.S. Resources Limited (TSX-V: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces its drilling program is now underway at the Fosterville-Toolleen project. The driller has been contracted to commence in November and most land access permits have been signed. Aircore/RC Drilling will start on the western side of the exploration licence EL006001. AIS will initially target 20 drill holes, with an overall 42-hole program planned. The drill hole depth will be an average of 65 meters.
The main gravity edge running north south has an associated arsenic in soil response which broadens out significantly over a deeper strong gravity anomaly in the northern part of the survey.
Phil Thomas, CEO commented, “We are very excited to start this second drill program with the new data we have compiled. Our data includes the drill hole, gravity and soils information, as well as advanced models of the structural geology, soil-based gold pathfinders and relationship between the Permian lithology delineated. The Permian rocks where gold nuggets were previously found overlays the Ordivician sediments where historically gold has been found in the local area at Kirkland Lakes’s Fosterville Gold Mine whose high grade Swan Zone is located only 12 kms from our project’s western boundary.”
Fig. 1 – Drillhole locations identified as white dots and previous drill holes black and white dots. Arsenic in soil contours over an upper continued gravity image with white shaded areas are the arsenic soil anomalies. Black dotted lines are the faults/lithoboundaries. The yellow dotted line shows the arsenic trend along the gravity edge.
Fig. 1 – AIS Fosterville-Toolleen is adjacent to Kirkland Lake Fosterville Block 3.
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 9.9km from Kirkland Lake’s Fosterville gold mine, 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,
AIS Resources Ltd.
Phillip Thomas, President & CEO
For further information, please contact:
Phillip Thomas, Chief Executive Officer
Martyn Element. 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. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Company 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 forward-looking statements contained in this press release are made as of the date hereof and the Company 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.