A.I.S. Resources (TSX.V: AIS) today announced that due diligence on the Yalgogrin Orogenic Gold Project has been completed with a three-day project inspection of the historic mines and geology on ELA6030 and EL5891. Among other highlights in the update, the company announced that 12 drill core samples from EL5891 have been verified as correct and show a strong correlation. “With 11 km strike length of known gold workings, and production over 15,000 oz from surface workings, the assay results are what we were expecting. This gives us confidence going forward with our highly prospective gold project in the Lachlan Fold Belt in NSW. And the geology and topography we examined gives us additional assurance that further exploration will be rewarding,” said A.I.S. Resources CEO Phillip Thomas in the press release. “The Asia-Wyalong and Talmore mine areas displayed geology consistent with the occurrence of gold. And the numerous pits and historic workings give us strong indications where to explore. To develop a drill target program, we had detailed discussions with geophysics consultants about conducting an IP survey over the key areas of interest. We also met with the drill team to discuss the area’s geology. Preparation of the Option Definitive Agreement for the initial acquisition of 60% is progressing well. Upon completion we will be able to close the transaction. All technical due diligence has been finalised and the returns for the NSW Resources and Geoscience Division have been completed.”
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About A.I.S. Resources Limited
A.I.S. Resources is a publicly traded investment issuer listed on the TSX Venture Exchange focused on the exploration of precious and base metals. The company is managed by a team of experienced mining and geological professionals. AIS has been involved in manganese trading from mines in Peru. In July-August 2020, AIS entered into agreements to acquire and develop the Tooleen-Fosterville Gold Project in Victoria, Australia and the Yalgogrin Gold Project in central New South Wales, Australia. For more information, visit the company’s website at www.AISResources.com.
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