A.I.S. Resources Intersects Quartz Veins and Completes RC Drill Program at Fosterville-Toolleen Gold Project in Victoria, Australia
A.I.S. Resources Limited
3500-1055 Dunsmuir Street
Vancouver BC Canada V7X 1H7
T: +1-604-687-6820
www.aisresources.com
A.I.S. Resources Intersects Quartz Veins and Completes RC Drill Program at
Fosterville-Toolleen Gold Project in Victoria, Australia
Vancouver, British Columbia, June 3, 2021 – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF ) (the
"Company" or "AIS) has completed its first drilling campaign at its Fosterville-Toolleen Gold Project, in
Victoria, Australia. Thirty one holes in three lines were drilled to a depth of 60 metres using percussion
and reverse circulation drilling. Significant quartz intercepts were encountered close to the gravity
anomaly (yellow area). Examination of the lithology showed that we had intercepted the same age of
turbidite shales that are present at Kirkland Lake’s Fosterville Gold mine. These shales lie underneath the
Permian gravels that also contain gold on the exploration licence.
Fig 1. Drill hole with gravity survey background and location of holes. The pink hole had highest gold assay.
Phil Thomas, CEO commented, “The drill program at our Fosterville-Toolleen Gold Project is proving to be
a great success as we’ve shown that we are in the right area to discover tension veins and spurs full of
quartz with gold mineralization. In holes 27 to 31 gold was identified in the assays and this is just the
beginning of our drilling program. Using percussion and RC drilling is very economical. Given that quartz
gold mineralization occurs in wide quartz veins, fence line drilling and soil sampling will allow us to detect
arsenic and other pathfinder elements in these mineralized systems.”
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Fig 2. The Red Line shows the area of keen interest. Paleochannels in light green are where gold has been
recovered. The blurred blue lines are interpreted faults.
Mineralization at Fosterville-Toolleen occurs near the fault intersections where the yellow gravity high is
located and ringed by the red line in Fig 2 above.
“It seems we have located the right area to drill, with major quartz intercepts”, according to Denis Walsh,
AIS’ Chief Geologist. “Now we have to better define the structure to identify the mineralized corridors.
Arsenic and other pathfinder elements may be very important for our exploration which we are assaying
for now. Ore zones at the Fosterville Gold mine are between 2 and 30 m wide and generally conform to
the trend of the structural zones. There is also a lithological control which localises mineralisation in
competent rock types exhibiting brittle fracturing and brecciation along zones of weakness, which provide
open spaces for fluid-flow. The interplay of rock type with folding and faulting produces secondary
structures, which although quite localised, host higher-grade gold mineralisation. That’s our exploration
target.”
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’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 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.
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A.I.S. Resources Limited
For further information, please contact:
Phillip Thomas, Chief Executive Officer
Tel: +1-323-515-5164
Email: [email protected]
Or
Martyn Element, Executive Chairman
Tel: +1-604-220-6266
Email: [email protected]
Website: www.aisresources.com
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policies 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
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update publicly or revise any forward-looking statements or information, whether as a result of
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