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AIS Resources Acquires Option on 596 sq km Exploration Licence Near Casterton, Western Victoria, Australia with Gold, Nickel, Copper, Zinc, Chrome, Gemstone mineralization - Exploration Area Now Totals 852 sq km

Nachrichtenquelle: globenewswire
01.02.2021, 14:00  |  186   |   |   

VANCOUVER, British Columbia, Feb. 01, 2021 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSXV: AIS, OTCQB: AISSF) (the "Company" or "AIS) is delighted to report that it has signed a 90 day option agreement to acquire the exploration licence EL006958 known as Casterton in the Glenelg zone, in Western Victoria, Australia. The option agreement has provision for extensions to 31 July 2021. If the option is exercised AIS can acquire the property for AUD$1,500,000 in cash and shares. This brings the total square kilometres AIS is exploring to 852 sq km.

Phil Thomas, CEO commented, “This is a fantastic opportunity for us to develop a multi-commodity project stream. The famous Hummocks Nickel, Chromite mine still has part of the infrastructure there and a sample from the feed chute was assayed by AIS at On-site Laboratories at 1,200ppm nickel and 1,100 ppm chromium. The base metal prospects are in the bright red staurolite zone in the schist that can be mineralized with copper and nickel. Low-grade nickel in serpentinite occurs at The Hummocks, north of Casterton (Bush et al. 1995b). With significant past exploration this will significantly enhance our portfolio.”   

Fig 1 – Earth Resources Victoria historical location of mineralization, magnetic survey, EL boundary in aqua.
https://www.globenewswire.com/NewsRoom/AttachmentNg/abf4411c-5958-4740 ...

Fig 2 - Tenement boundary and major towns in the EL006958
https://www.globenewswire.com/NewsRoom/AttachmentNg/8a3e6379-de19-4d57 ...               

Fig 3a Hummocks nickel chromite mine and Fig 3b Serpentinite intrusion
https://www.globenewswire.com/NewsRoom/AttachmentNg/ff953fe9-35b4-498e ...
https://www.globenewswire.com/NewsRoom/AttachmentNg/aae17a42-cda1-460e ...

Fig 4 Analysis of rock chip sample from Hummocks Mine, Casterton
https://www.globenewswire.com/NewsRoom/AttachmentNg/4f414e73-fa73-46c3 ...

Past Historical Exploration

Gold BHP Gold Mines in 1987 found gold in the volcanics in the Cavendish Area
Gold Baracus Pty Ltd in 1988 found Gold in the Pigeon Ponds area.
Diamonds Ashton Mining in 1980-81 found diamonds and prospective rocks in PigeonPonds area
Gold Silver Asarco Australia found precious and base metals in Casterton area
Diamonds CRA Exploration found in 1980 heavy mineral sands and diamonds
Gold CRA exploration found gold in the Brolga Downs area in 1991-93
Gold CRA targetted gold in the Glenelg River Metamorphic complex and gold associated in the burthong area with tertiary laterization in 1991-93
Gold Newmont Holdings found gold in the laterite hosted gold deposits in the Balmoral area in 1986
Gold Norgold in 1988-89 found hypogene gold mineralisation in the Coleraine-Balmoral-Harrow region
Gold PS Forwood found major gold deposits through gold and arsenic geochemical anomalies in laterites in the Balmoral area. Models used included breccia pipe, greenstone, granite and boddington style mineralisation. Gold was also found in the Mather Creek area.
Base Metals Rosscraft Minerals in 1983-1988 found base metal sulphide mineralisation in the Dergholm Casterton area.
Au-Ag-Cu-Pb-Zn Stawell Gold Mines in 1993-95 found polymetallic skarn mineralisation associated with the contact with the Wando granodiorite.
Base metals Western Mining found in 1973-74 massive or disseminated base metal sulphides
Nickel Westpoint exploration found in 1970-71 nickel and allied mineralisation in ultra basic rocks in the Coleraine area.
Coal Western mining explored the Pashendale area for cretaceous black coal seams in 1978-82

Previous mining for Zinc and Lead occurred in the Nolans Creek area in 1908.

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AIS Resources Acquires Option on 596 sq km Exploration Licence Near Casterton, Western Victoria, Australia with Gold, Nickel, Copper, Zinc, Chrome, Gemstone mineralization - Exploration Area Now Totals 852 sq km VANCOUVER, British Columbia, Feb. 01, 2021 (GLOBE NEWSWIRE) - A.I.S. Resources Limited (TSXV: AIS, OTCQB: AISSF) (the "Company" or "AIS) is delighted to report that it has signed a 90 day option agreement to acquire the exploration licence …

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