AIS Resources Receives Favourable Initial IP Geophysics at Yalgogrin Gold Project
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 Receives Favourable Initial IP Geophysics at
Yalgogrin Gold Project
Vancouver, British Columbia, January 20, 2021 – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the
"Company" or "AIS) is delighted to report that Fender Geophysics commenced the Induced Polarization
Geophysics survey at EL5891 on Monday 11 January 2021. Approximately 36 line kilometres will be measured.
This survey will detect the presence of sulphides (that associates with gold) and other highly conductive
elements. Low-resistance anomalies such as areas with sulphides if present will be observed.
Phil Thomas CEO commented “This is a really exciting week for us. When the IP lines go over those sample
areas that assayed 24gm/tonne of gold, the extent of the mineralization between the drill and augur holes
will be closely watched. To top it off, recently we took a rock chip sample with significant pyrite in it and if this
is prevalent the IP survey will light up like a Christmas tree! Our intention is to define major drill hole locations
and have our drillers there as soon as we can schedule them.”
Fig. 1 – Granite rock chip sample with pyrites in it being examined by Chief Geologist Denis Walsh
Explanation of Induced Polarization
The induced polarization method makes use of the capacitive action of the subsurface to locate zones where
clay and other chargeable minerals are located within the host rock. With IP you can get a firm indication of
conductive elements in the ground if it holds a charge because two maps are produced i.e., resistivity
(conductivity) and IP—at the same time.
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This is important for mineral exploration —identifying economically important minerals, including gold,
copper, and silver. Early on, pyrite and massive sulfide minerals were deposited by hydrothermal fluids. These
minerals have a huge IP signature, especially when disseminated as smaller grains in a rock matrix, which we
can use when exploring for these minerals.
Work at Yalgogrin Includes:
• IP survey will be conducted over the highest auger and drill results on EL5891.
• The proposed survey is to cover approximately 75% of EL 5891 (1.2km x 1.5km) with Gradient Array IP
and the line spacing will be approximately 50m.
• A gradient array IP of approximately 2 sq km in ELA6030 is being designed for the Asia Wyalong shaft and
mine, and an area to the south.
• Magnetic survey over ELA6030 with a focus on the Asia Wyalong and Talmore historic mine areas will follow;
• All landowner and government approvals were received to conduct the low Impact exploration.
Fig. 2 – Location of AIS Resources three properties – Yalgogrin, Fosterville Toolleen and Kingston
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Fig. 3 – Lines to be surveyed by IP with existing mines and Gold contours and augur results in background
Fig. 4 – Progress so far on Day 3 of the IP Survey
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Fig. 5 – Proposed Gradient Array IP coverage (hatched area) within EL6030 over the Asia-Wyalong mine.
Asia Wyalong Mine
Approximately 10.1km southwest of Yalgogrin is a group of workings comprising of the Asia-Wyalong Mine,
Rowe and Preston’s Mine and the Sheehan Mine. The Talmore mine is approximately 2km away from the Asia
Wyalong mine. The main workings comprise of three shafts up to 91.5m deep, drives, crosscuts, winzes,
stoping and shallow pits extending about 15.3m over the surface. The work was mostly carried out between
1932 and 1936 on a number of quartz veins between 0.76 and 2.2m wide. They strike 340o, with a near vertical
dip. Altogether there are six parallel lines within a 60m wide strip. They parallel the cleavage and in addition
there are numerous smaller crosscutting veins. The richest gold is reported to have come from the intersection
between the main veins and the smaller veins. Officially, a total of 21.225kg of gold was won from ore yielding
0.036kg/t.
We propose to complete the IP survey, geochemical sampling and a magnetic survey. Following these studies
we will do a partial leach bulk sample analysis.
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Fig. 6 – Earthwatch Map showing location of EL5891 and ELA6030 and historic gold mines in yellow.
Toolleen – Fosterville EL6001
Early processing of ground penetrating radar is showing some prospective structures (aqua areas on lines). When
this is combined with other data it will provide a clearer picture of the structures on the Exploration Licence area.
Fig. 7 – Shows the survey data with aqua coloured gaps highlighting anomalies, with the white area at the
top of the figure being the Fosterville mine in the background.
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Technical information in this news release has been reviewed and approved by Phillip Thomas, BSc Geol MAIG
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 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.
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.
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contains statements concerning the anticipated use of the proceeds of the Private Placement. Although
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