A.I.S. Resources finds visible Au at Bright project
2022-12-12 10:59 ET – News Release
Mr. Martyn Element reports
A.I.S. RESOURCES REPORTS VISIBLE GOLD AT ITS BRIGHT PROJECT IN VICTORIA, AUSTRALIA
A.I.S. Resources Ltd. has intersected visible gold at the Golden Bar prospect in the third hole of its current 1,500-metre program to test widths, grades and association between the Shaw’s, Red, Leader, Home and Golden Bar reef systems.
Visible gold at hole GBDD003
The third hole (GBDD003) intersected gold in a spurry quartz-carbonate vein at 75.5 metres (m) associated with the Golden Bar reef. This visible gold intersection was unexpected at this depth as the model anticipated the Golden Bar reef would be encountered below the 100-metre level. The gold mineralization appears to occur through multiple major and minor faults.
This new intersection is within a broadly altered interval that contains arsenopyrite, sphalerite and pyrite. A.I.S. drilled two holes at the Home and Golden Bar reefs early this year, recording anomalous concentration over 10,000 parts per million (ppm) (1 per cent) arsenic which is known to be a pathfinder for gold. Down hole intersections are consistent with the 3-D (three-dimensional) model generated from open-source lidar (light detection and ranging) and historic mine plans.
About Golden Bar
A historical account of production comes from the last records of mining immediately above these drill intersections by way of Kenny, 1966. Earliest records of the prospect are incomplete, with surface mining estimated to have initiated around 1865, concluding in 1905 on mining fronts associated with the Home reef and Shaw’s reef. It was calculated that Shaw’s reef yielded a grade of 10.14 grams per tonne (g/t) from 487.7 tonnes of ore and Home Reef yielded 22.28 g/t from 287 tonnes of ore. The weighted average from a total of 779.3 tonnes of ore is 14.66 g/t, with auriferous pyrite contributing between 1.2 to 1.5 g/t. Lidar analysis demonstrates that, at surface, the Home Reef was mined up to 120 metres (m) in length, while the Shaw’s Reef was mined up to 80 m in length.
A.I.S. is seeking to demonstrate that wide continuous mineralization occurs within the boundaries of mineralized reefs and is persistent over strike.
Technical information in this news release has been reviewed and approved by Phillip Thomas, BSc (geology), MBM, FAusIMM MAIG MAIMVA (CMV), who is a qualified person under the definitions established by National Instrument 43-101 and is a director of A.I.S. Resources.
About A.I.S. Resources Ltd.
A.I.S. Resources is a publicly traded investment issuer listed on the TSX Venture Exchange focused on lithium, gold, precious and base metals exploration. A.I.S.’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 and investment bankers, with a record of successful capital markets achievements.
We seek Safe Harbor.
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