VANCOUVER, British Columbia,
April 20, 2018 /PRNewswire/ --
A.I.S. Resources Limited (TSX-V - AIS)(OTCQB: AISSF) (the
"Company" or "AIS") is pleased to announce it has engaged Hidrotec
SRL of Salta, Argentina to
complete up to eight diamond drill holes for a total of 2,300
meters across all four tenements at its Chiron project in the
Pocitos Salar.
Hidrotec has mobilized a drill rig onto the site, as well as
some of the necessary equipment to begin the construction of the
drill pads and drilling to start on April
24, 2018.
- AIS plans to drill eight holes, to various depths between 300
and 400 meters.
- Chiron appears to be the preferred area in the salar for brine
saturated sequences, based on geophysics data interpretation.
- This upcoming drill campaign will enable the Company to outline
an initial maiden resource at Chiron after a pump test has been
completed.
Phil Thomas, Chief Operating
Officer and exploration director of A.I.S., stated: "We are very
excited at the prospect of drilling these sequences as the
geophysics showed very low resistivities from 20 metres to more
than 200 metres below the surface. Adjacent concession
holders are also preparing to drill and this will provide the basis
for a sound geological model.
We are also looking forward to using a new geophysics technique
using magnetic resonance of hydrogen to determine porosity and
permeability to calculate the reservoir and specific brine yield
values. This technique is tried and tested in oil but this is
the first time it will be used commercially in brines with high
salt content. This will save us nearly 4 months of brine
yield testing using traditional methods."
Historical Work
The Pocitos salar basin was previously drill tested, with 12
shallow holes in 1979, by the Direccion General de Fabricaciones
Militares (DGFM). The most significant result from this historical
work program includes a shallow drill hole, which averaged 417
parts per million (ppm) lithium and 15,300 ppm potassium. The above
historical results cannot be verified by the company, and are not
NI-43-101 compliant.
Qualified Person
Phillip Thomas, BSc Geol, MBusM, MAIG, MAIMVA, (CMV), a
Qualified Person as defined under NI-43-101 regulations, has
reviewed the technical information that forms the basis for
portions of this news release, and has approved the disclosure
herein. Mr. Thomas is not independent of the Company as he is an
officer and shareholder.
About A.I.S. Resources
A.I.S. Resources Ltd. is a TSX-V listed investment issuer, was
established in 1967 and is managed by experienced, highly qualified
professionals, who have a long track record of success in lithium
exploration, production and capital markets. Through their
extensive business and scientific networks, they identify and
develop early-stage projects worldwide, that have strong potential
for growth with the objective of providing significant returns for
shareholders. The Company's current activities are focused
exclusively on the exploration and development of lithium brine
projects in northern Argentina.
On Behalf of the Board of Directors,
A.I.S. Resources Limited
Marc Enright-Morin
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.
Contact
A.I.S. Resources Limited
Marc Enright-Morin
President and CEO
T: 778-892-5455
E: memorin@aisresources.com
Website: aisresources.com