AIS Resources to Begin Drilling 1000M in First Week of March 2021 at Yalgogrin Gold Project Based on Excellent IP Geophysics Results
VANCOUVER, British Columbia, Feb. 25, 2021 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the "Company" or "AIS) is delighted to report that Fender Geophysics has completed the Gradient Array Induced Polarization and Dipole-Dipole
Geophysics survey at EL5891 Yalgogrin gold project with chargeability readings of 5-7.5mv/v over the targeted area that are up to five times background values. The results are outstanding and give
us confidence to commit to a 800-1000m diamond drill program. Drillit Consulting from Parkes NSW have been contracted to complete the diamond drill program commencing the first week in March
“The results achieved by Fender Geophysics Gradient Array survey are extremely encouraging,“ commented Phil Thomas, CEO. “We have been able to combine the geophysics with results from previously completed drill holes, on ground observations, the large number of augur holes and soils geochemistry to guide our understanding of the mineralization system and give us confidence to drill test the selected targets.”
Correlation with ground geology has identified the peak chargeability associated with gossanous altered granite that is mineralized with gold. There is a broad spatial association of chargeability trends with gold in soil geochemical anomalisms across the property.
The gradient array survey provides plan view results which has enabled us to best locate the Dipole-Dipole survey for interpreting results along 2D sections. Our independent geophysicist is working on an inversion of the data to better define the results at depth and integrate with the gradient array geophysics. These results will be available in the next week or so and will assist us to optimize drillhole placement.
Prior augur and drilling gold assays include:
- § 0.5m @ 32.2 g/t Au from 1.5m.
- § 22m @ 1.9 g/t Au from 1m, including 1m @ 21.5 g/t Au.
- § 14m @ 2.6 g/t Au from 1m.
- § 9m @ 2.2 g/t Au from 1m, including 1m @ 13.3 g/t Au from 7m.
Our Immediate opportunity is to define a shallow oxide gold resource, then the deeper high Grade gold resource potential.
Fig 1. Yalgogrin is located in the Lachlan fold belt near Cowal and Cadia gold mines.
Fig 2. Gradient Array IP Chargeability with gold in soil contour and 8 proposed drill hole locations.