AIS Reports on the Inferred Lithium Resource on Candela II
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A.I.S. Resources Limited
1120 – 789 West Pender Street
Vancouver BC V6C 1H2 Canada
www.aisresources.com
AIS Reports on the Inferred Lithium Resource on
Candela II
September 28th, 2023
Vancouver, British Columbia – A.I.S. Resources Limited (TSX-V: AIS, FRA: 5YHA ) (the
“Company” or “AIS”) wishes to inform the company’s shareholders that Spey Resources
Corp. (CSE: SPEY, OTC: SPEYF, FRA: 2JS) ("Spey”) has announced that a NI 43-101 compliant
Mineral Resource Estimate (“MRE”) has been completed on the Candela II lithium brine
project located in the Incahuasi Salar, Salta Province, Argentina. AIS holds a 20% equity
carry in the Candela II concession.
The report on the Candela II property was completed by WSP Australia Pty Limited and
quoting from the Spey news release: “is estimated to contain lithium metal of 86,000 tonnes
which equates to 457,520 tonnes of in-situ Lithium Carbonate Equivalent (“LCE”) and a
lithium yield of 48,000 tonnes of LCE from 9,000 tonnes of lithium metal.”
At this time the reported Inferred Mineral Resource is considered too speculative
geologically to have economic considerations applied to them that would enable them to be
categorized as Mineral Reserves. The current lithium carbonate price of $30,000 per tonne
will provide the basis for a planned scoping study analysis for a possible 5,000 t/year
production plant, designed to evaluate the overall economics of the project.
AIS and Spey are finalising a shareholder agreement for the development of the Candela II
concession. AIS retains a 20% equity carry.
The reader is referred to the Spey news release for further details on the resource estimate,
and proposed plans and budgets for additional development work on the property.
About A.I.S. Resources Limited
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A.I.S. Resources Limited
A.I.S. Resources Limited is a publicly traded investment issuer listed on the TSX Venture
Exchange focused on natural resource opportunities. AIS’s value add strategy is to acquire
early-stage projects and provide technical and financial support to enhance their value. The
Company is managed by a team of experienced engineers, geologists, and investment
bankers, with a track-record of successful capital market achievements.
On Behalf of the Board of Directors, A.I.S. Resources Limited.
Andrew Neale
President & CEO
Email: [email protected]
Website: www.aisresources.com
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.