A.i.s. Resources Signs LOI to Exploit Manganese Deposit IN Panama
Since 1967
TSX-V: AIS A.I.S. Resources Limited
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A.I.S. RESOURCES SIGNS LOI TO EXPLOIT MANGANESE DEPOSIT IN PANAMA
Vancouver, British Columbia – December 17, 2019 – A.I.S. Resources Limited (TSX-V – AIS, OTCQB:
AISSF) (the “Company” or “AIS”) announced today that the Company has entered into an access
agreement with the land owner to conduct exploration on an existing manganese mine and major
deposit northwest of Panama City near Palenque, Panama
Highlights of the A.I.S. Resources Transaction
The project was visited on October 17, 2019 and samples were taken from an outcrop
adjacent to a 60 metre deep mine shaft where manganese was extracted in the 1990’s.
Also observed were several shallow shafts and remnants of a railway line that had been
installed to move the manganese off the hill to the road.
A number of samples weighing approximately 900 gms were assayed by AlsGlobal in
Adelaide, Australia. The results were very encouraging with Mn values of 58.03%, more
than 14% above the 44% benchmark.
Since 1967
TSX-V: AIS A.I.S. Resources Limited
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The agreement provides for exclusive exploration rights on a 74-hectare concession while
AIS performs due diligence. AIS will engage a local geologist to complete mapping,
logistics planning, technical/safety/OHS of mine shaft, Mn chemical analysis, trenching and
geophysics to determine the feasibility of recommencing mining operations. If the results
are positive the Company will proceed with a mine engineering plan to commence
production at the estimated rate of 10,000 tonnes a month or 350 tonnes per day.
Fig 1 – Samples analysed Fig 2 – Manganese mine shaft
Fig 3 – Examining Mn scree in creek Fig 4 – Flywheel of the old cable railway
“We are pleased to have found this significant deposit with such high purity of manganese.”
stated A.I.S. Resources President and CEO, Phillip Thomas.
Since 1967
TSX-V: AIS A.I.S. Resources Limited
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Guayatayoc Salar – Argentina
AIS received an extension on the Guayatayoc option to December 15, 2019 at no extra cost. The
Company has decided to relinquish the option as the Secretary of Mines has made no progress
toward arranging a UGAMP meeting nor setting time limits on the discussion period for
exploration programs. AIS will monitor conditions in Argentina with a view toward re-engaging
operations when circumstances improve.
About AIS Resources
A.I.S. Resources Ltd. is a TSX-V listed investment issuer that is managed by experienced, highly
qualified professionals who have a long track record of success in lithium and manganese trading,
exploration, production and capital markets. Through their extensive business and mining
networks, they identify and develop projects worldwide that have strong potential for growth with
the objective of providing significant returns for shareholders. The Company's current activities
are focused on the mining and trading of manganese ores in Peru, and exploration and
development of lithium brine projects in northern Argentina.
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
Since 1967
TSX-V: AIS A.I.S. Resources Limited
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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.