AIS Resources acquires Option on 596 Sqkm Exploration Licence near Casterton, Western Victoria with gold, nickel, copper, zinc, chrome, gemstone mineralization – exploration area now totals 852 Sqkm
A.I.S. Resources Limited
Suite 2300 – 1177 West Hastings Street
Vancouver BC Canada V6E 2K3
T: +1-604-687-6820
www.aisresources.com
AIS Resources acquires Option on 596 Sqkm Exploration Licence near
Casterton, Western Victoria with gold, nickel, copper, zinc, chrome,
gemstone mineralization – exploration area now totals 852 Sqkm
Vancouver, British Columbia, January 29, 2020 – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF ) (the
"Company" or "AIS) is delighted to report that it has signed a 90 day option agreement to acquire the
exploration licence EL006958 known as Casterton in the Glenelg zone, in Western Victoria. The option
agreement has provision for extensions to the 31 July 2021. If the option is exercised AIS can acquire the
property for AUD$1,500,000 in cash and shares. This brings the total square kilometres AIS is exploring to
852 sq km.
Phil Thomas, CEO commented “This is a fantastic opportunity for us to develop a multi-commodity project
stream. The famous Hummocks Nickel, Chromite mine still has part of the infrastructure there and a sample
from the feed chute was assayed by AIS at On-site Laboratories at 1,200ppm nickel and 1,100 ppm
chromium. The base metal prospects are in the bright red staurolite zone in the schist that can be
mineralized with copper and nickel. Low-grade nickel in serpentinite occurs at The Hummocks, north of
Casterton (Bush et al. 1995b). With significant past exploration this will significantly enhance our portfolio.”
Fig 1 – Earth Resources Victoria historical location of mineralization, magnetic survey, EL boundary in aqua.
Hummucks
Serpentinite
Nickel/Chromium
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Fig 2 Tenement boundary and major towns in the EL006958
Fig 3 Hummocks nickel chromite mine and serpentinite intrusion
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Fig 4 Analysis of rock chip sample from Hummocks Mine, Casterton
Past Historical Exploration
Gold BHP Gold Mines in 1987 found gold in the volcanics in the Cavendish Area
Gold Baracus Pty Ltd in 1988 found Gold in the Pigeon Ponds area.
Diamonds Ashton Mining in 1980-81 found diamonds and prospective rocks in PigeonPonds area
Gold Silver Asarco Australia found precious and base metals in Casterton area
Diamonds CRA Exploration found in 1980 heavy mineral sands and diamonds
Gold CRA explorationfound gold in the Brolga Downs area in 1991-93
Gold CRA targetted gold in the Glenelg River Metamorphic complex and gold associated in the
burthong area with tertiary laterization in 1991-93
Gold Newmont Holdings found gold in the laterite hosted gold deposits in the Balmoral area in
1986
Gold Norgold in 1988-89 found hypogene gold mineralisation in the Coleraine-Balmoral-Harrow
region
Gold PS Forwood found major gold deposits through gold and arsenic geochemical anomalies
in laterites in the Balmoral area. Midels used included breccia pipe, greenstone, granite
and boddington style mineralisation. Gold was also found in the mather creek area.
Base Metals Rosscraft Mineralis in 1983-1988 found base metal sulphide mineralisation in the
Dergholm casterton area.
Au-Ag-Cu-
Pb-Zn
Stawell Gold Mines in 1993-95 found polymetallic skarn mineralisation associated with
the contact with the Wando granodiorite.
Base metals Western Mining found in 1973-74 massive or disseminated base metal sulphides
Nickel Westpoint exploration found in 1970-71 nickel and allied mineralisation in ultra basic
rocks in the Coleraine area.
Coal Western mining explored the Pashendale area for cretaceous black coal seams in 1978-82
Previous mining for Zinc and Lead occurred in the Nolans Creek area in 1908.
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’s 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 its portfolio. The Company is managed by a team of experienced
geologists, with a track-record of successful capital markets achievements. In November 2020, AIS received
TSX-V approval to acquire the New South Wales Yalgogrin Gold Project JV, the Fosterville-Toolleen Gold
Project and the Kingston Gold Project in Victoria Australia which settled in January 2021.
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A.I.S. Resources Limited
For further information, please contact:
Phillip Thomas, Chief Executive Officer
Tel: +1-747-200-9412
Email: [email protected]
Or
Martyn Element, Executive Chairman
Tel: +1-604-220-6266
Email: [email protected]
Website: www.aisresources.com
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of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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-
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