A.I.S. eager to begin drilling at Fosterville-Toolleen
2020-09-15 10:12 ET – News Release
Mr. Martyn Element reports
A.I.S. RESOURCES ANNOUNCES PLANS TO FAST TRACK ITS FOSTERVILLE-TOOLLEEN GOLD PROJECT DRILLING PROGRAM
A.I.S. Resources Ltd. is planning to fast-track its drilling program on the company’s new Fosterville-Toolleen gold project, located only 12 kilometres from Kirkland Lake’s 7.58-million-ounce-gold Fosterville gold mine in Victoria, Australia.
Martyn Element, chairman, commented: “The plans to fast track a drilling program at our new Fosterville-Toolleen Gold project are now our immediate focus. The Gold Project has historically produced at approximately 10 g/t gold and we see considerable upside in the immediate area around the old Toolleen Gold Mine. The Victoria State Government considers mining to be a key essential industry, so conducting exploration on the Company’s assets can be performed during these globally difficult times. We are working with our geological consultants to plan an initial drilling program for our highly prospective Project located only 12 km from one of the world’s most profitable underground gold mines. Management’s objective is to take advantage of the global gold price surge, by aggressively exploring our excellent gold assets.”
As previously announced, AIS Resources signed a Binding Letter of Intent to acquire the Fosterville-Toolleen Gold Project, and work is progressing on the completion of this important acquisition. Complete details of the acquisition can be found in the Company’s news release of August 24, 2020.
Technical information in this news release has been reviewed and approved by Phillip Thomas, CEO of AIS, who is a Qualified Person under the definitions established by the National Instrument 43-101.
About the Fosterville-Toolleen Gold Project
This advanced stage gold Project is located 12 km from Kirkland Lake’s 7.58 Moz Fosterville Gold Mine and three km from the township of Toolleen. The project includes an open cut mine, free gold on the surface, substantial geological work and evidence of quartz. The Toolleen Gold Zone was mined underground until 1957 with a reported 7,000 tonnes at 10g/t Au being produced from the top 60 metres. Other explorers around the AIS Resources project include: Fosterville South Exploration, Nubian Resources, Catalyst Metals and Petratherm Ltd.
About A.I.S. Resources Ltd.
A.I.S. Resources is a publicly traded investment issuer listed on the TSX Venture Exchange focused on precious and base metals exploration. The Company is managed by a team of experienced mining and geological professionals, with a track-record of successful capital markets achievements. In July-August 2020, AIS entered into agreements to acquire and develop the Toolleen-Fosterville Gold Project in Victoria Australia and the Yalgogrin Gold Project in central New South Wales, Australia.
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