AIS Resources Options Gold Mine In Peru Producing 5kg Gold Per Week
Since 1967
TSX-V: AIS A.I.S. Resources Limited
Page 1 of 2
AIS Resources Options Gold Mine In Peru Producing 5kg Gold Per
Week
Vancouver, British Columbia – October 24, 2019 – A.I.S. Resources Limited (TSX-V – AIS, OTCQB:
AISSF) (the “Company” or “AIS”) announced today that it has reached agreement on an option to
acquire an initial 51% interest in a gold mine in Northern Peru producing up to 5kg gold per week
(165 troy ounces) with average revenues of US$75,000 per month. AIS will earn a 51% interest by
contributing US$500,000 in equipment and technical expertise to increase the mine’s productivity.
The properties are located in the San lgnacio district, Cajamarca province. There are no
indigenous communities nearby, and local labour has been used to mine the three horizontal
shafts and trenches. The veins are vertically orientated.
Highlights:
AIS has been granted a 90 day due diligence period.
Two grab samples have recorded 27gm/tonne and 466gm/tonne of gold from concession Jaw4
which we will target for a new shaft. While these samples are encouraging, and gold
production is in progress, we need to determine the extent and concentration of gold in veins
and associated rock.
Our due diligence will focus on the extent of the veins, drilling the property to define the extent
of the gold mineralization, geochemical soil sampling, mapping, and design of a process circuit.
Within six months of the conclusion of the 90 day due diligence period AIS will contribute
US$500,000 in equipment and technical expertise.
AIS will upgrade the ball mill and acquire a Taylor shaker table and floatation system for
capturing the gold.
The Peruvian Company has eight concessions over 5,888 ha, in northern Peru.
AIS intends to stake more ground in this area with a view to expanding production in future
years.
Our CEO, Phil Thomas, has been active in a number of gold projects in Nazca to the south of
Peru, Arizona, and Victoria Australia.
“This is an exciting development for the Company to supplement its manganese operations, and
its lithium brine extraction technology.’ Phillip Thomas, CEO, stated, “While AIS’s focus is on
expanding our lump manganese acquisitions at grades of 44% Mn and higher we have decided
that this gold opportunity will benefit us greatly, by diversification, and short term cashflow.”
”
Since 1967
TSX-V: AIS A.I.S. Resources Limited
Page 2 of 2
On Behalf of the Board of Directors, A.I.S. Resources Limited
Phillip Thomas
President and CEO
Contact
Phillip Thomas - President and CEO
Website: www.aisresources.com
Martyn Element
Chairman
T: 604 687-6820
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-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.