A.I.S. Resources Gravity Geophysics Reveals Highly Prospective New Gold Drill Targets at Fosterville Toolleen Gold Project
VANCOUVER, British Columbia., Oct. 14, 2021 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces it has received the Geophysics Reprocessing Report from Nordic Geoscience. The red circles in figure one below show the major drill targets on R1 and R2 on the second order faults resulting from the analysis. Second and third order faults are key mineralization hosts where gold may be found. A number of filters and normalizing was applied to the data that screened out signal noise and revealed at least three major structures to be drilled. The latest techniques using NGS (Next Gen Sequencing) Enhanced Ground Gravity processing, Gravity Grid enhancements and Gravity Multi-Scale Edge detection were used to refine locations of mineralization.
Figure 1 – R1 and R2 have been interpreted as second order faults to the Mt Pleasant Creek Fault in the hanging wall of the major Mt William Fault. Second and third order faults are key mineralization hosts. Alluvial gold in the creek has possibly originated near the fault zone. The red circles show the major drill targets. These are associated with reverse faulting and cross-cutting structures. U and D are dip direction. Red arrows point to plunge direction.
An additional gravity survey will be run to fill in the southern area of the tenement to enhance the accuracy of the interpretation. Soil sampling as recommended is already underway. Ultra-fine clay analysis using ICP as developed by Australia’s leading scientific institution CSIRO is going to be used to provide a more accurate location of mineralization.
Figure 2 – Tenement Map showing the Mt William Fault, Heathcote Fault and the Mt Pleasant Creek Fault (dotted black line). Kirkland Lake (Agnico Eagle) Fosterville tenement is outlined in red to the left. The blue area is the Permian age (Pbx) and the aqua area is the Ordovician age (Ocl) where gold mineralization has been found.
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 12 km from Kirkland Lake’s Fosterville gold mine (subject to completion of certain exploration expenditures), 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,
A.I.S. Resources Ltd.
Phillip Thomas, President & CEO
For further information, please contact:
Phillip Thomas, Chief Executive Officer
T: +1-323 5155 164
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.
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