The Golden Triangle – The Worlds Richest Alluvial Gold Nugget Region
Located in the Central Victoria region, the area encompasses 9,400 square kilometres and has produced some of the greatest alluvial gold nugget finds in the world up to this present time. AIS Resources is exploring and developing three significant advanced stage Gold Projects with over 250 sq km of property in Australia’s gold-rich regions – and two of those projects are located in the Golden Triangle.
AIS Resources currently has two gold projects in the Victoria region that include:
The Toolleen-Fosterville Gold Project
The project includes the 26 sq km Exploration Licence EL6001, with reported production of 7,000 tonnes @ 10 g/t Au from the top 60 metres and an 88 gm nugget on surface. The drill-ready property is the closest one (12 km) to Kirkland Lake Gold’s (NYSE: KL) Fosterville Mine – the lowest-cost producer worldwide at $315/oz and 34.3 g/t with a reserve of 7.58 Moz gold.
Kirkland LakeGold reported third-quarter gold production of 339,584 oz., a 3% increase over the 329,770 oz. generated in the prior quarter. The Detour Lake and Fosterville mines led this output, producing 140,067 oz. and 161,489 oz. in the period, respectively. With 331,811 oz. of gold sales, at an average realized price of US$1,907 per oz., the producer closed out the quarter with US$848 million in cash, a 58% increase during the reporting period.
The Kingston Gold Project
The 167 sq km Exploration Licence EL6318 is located 35 km north-west from Stawell, Victoria. The drill-ready property is flanked by Navarre Minerals (ASX: NML) and was previously explored by BHP and WMC. The best recent drill results recorded were 3.6m at 16.89 g/t Au, including 2.5m at 24.27 g/t Au.
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Historically, the Kingston Gold Project Includes Numerous Gold Mines
From 1900 to 1903, hard rock gold mining occurred at the Kingston Mine (PL007276 – 150m x 350m – excluded from our EL), with production estimated to be 2,762ozs of gold from 11,764 tonnes of ore, at an average grade of 7.3g Au/t. AIS has secured a 15% royalty for any gold taken up to 150m from the Kingston Mine Collar on the company’s EL.
Previous exploration at North Kingston EL was undertaken by BHP/WMC under joint ventures with Southern Continental, Hume Mining and Platsearch. BHP commenced exploration between 1931-32 at the North Kingston EL by sinking a shallow prospecting shaft situated approximately 25 metres northeast of the Old Kingston Mine shaft.
From 1986 to 1989 Western Mining Corporation recognised the potential for high-grade mineralisation associated with quartz reefs. Magnetic units that fall along the Kingston Landsborough trend have gold occurrences in outcropping areas, making this magnetic trend a favourable corridor for hosting gold deposits. Previous drilling by Hume Mining and WMC has intersected 1m at 15.4g/t Au and 2m at 24.8g/t away from the Kingston Mine area.
WMC Limited (“WMC”) drilled 213 percussion reverse circulation and diamond holes totalling 10,312m around the old Kingston Mine. Significant gold intersections were 8m @ 23.0g Au/t from 28m in KINC6; and 9m @ 40.5g Au/t from 78m in KINC58. More recently, Range River Gold Limited (“RRG”) (2002-2010) undertook a program of geological mapping, rock chip sampling and drilling. The best drilling results were 5m @ 12.6g Au/t from 63m in hole KNGC6; 6m @ 5.8g Au/t from 52m in hole KNGC4; and 5m @ 4.3g Au/t from 77m in hole KNGC2.
More recently in 2002-2010 Range River Gold Limited (“RRG”) undertook a program of geological mapping, rock chip sampling and drilling. The best drilling results were 5m @ 12.6g Au/t from 63m in hole KNGC6; 6m @ 5.8g Au/t from 52m in hole KNGC4; and 5m @ 4.3g Au/t from 77m in hole KNGC2.
In January 2012 Navarre Minerals Limited which held the concession at the time announced diamond drill results of 16.9m at 5.5g Au/t from a depth of 65.7m down-hole, including 3.1m at 29.5g Au/t. Visible gold was identified between 65.7m and 65.9m down-hole within a quartz breccia on the hanging wall side of a quartz lode structure.
Drilling Undertaken by Current Owners
HQ Diamond Drilling was undertaken in four holes in March 2019 near the Old Kingston Mine site. Holes SWK001 to 4 were drilled by Starwest Drilling contractors to a depth of 70 to 80m. There was a range of results up to 24.27g/t Au.