VANCOUVER, British Columbia, Jan. 25, 2019 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX-V – AIS, OTCQB: AISSF) (the “Company” or “AIS”) is pleased to announce that drilling commenced at the Guayatayoc Mina cateo in Northern Argentina on January 20, 2019. The target depth is 400 metres. 143 metres has been drilled so far.
Brine sampling using a handheld resistivity meter has provided the following encouraging results:
- Resistivity 182 ms (micro siemens) (three times the salt concentration of sea water which is 54 ms)
- Specific Gravity is 1.12 (fresh water is 1.0) (lithium brines are usually 1.2-1.25)
- Ph is 7.12 (slightly alkaline which is possibly due to the presence of bi-carbonates that combine with Li, Ca, Mg, and other elements)
Brine samples from the packer test at 102 metres depth will be sent to the laboratory this week for detailed analysis. We expect lithium values to increase as we approach 250-300 metres depth. The next packer test for brines will be at 250 metres.
The drill core (Fig 2) is composed of black and green clays down to 102 metres. We are seeing more sand in the clay and the presence of salt flakes, which is a good sign for porosity.
Picture above shows the drill core at 94.5m depth displaying gray clay sediment with sand and salt crystals. The picture below (Fig 3) shows the black clays with sand and salt crystals in it.
Phil Thomas CEO said that, "The drilling guys have really put in and got us going three days earlier than expected. We haven’t seen any significant evidence of brine pressure so far so we didn’t have to stop to cement the hole. Core coming out has been very encouraging. It seems to have the predicted porosity, resistivity and Ph we want to see. The packer brine sampling test results will tell us if we are in the right location."
We are delighted that the Rincondillas community signed the Assembly Document and a meeting with the Department of Mines was concluded to provide some additional technical information and set a date for the UGAMP meeting on 24 February 2019. Phil Thomas will attend this meeting.
Video is available on twitter @Phil_AISResourc
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 this news release, and has approved the disclosure herein. Mr. Thomas is not independent of the Company as he is Chief Executive Officer and a 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 projects worldwide that have strong potential for growth with the objective of providing significant returns for shareholders. The Company’s current activities are focused on the exploration and development of lithium brine projects in northern Argentina.
On Behalf of the Board of Directors, A.I.S. Resources Limited
President and CEO
Phillip Thomas - President and CEO
T: 604 687-6820
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.
Photos accompanying this announcement are available:
Fig 1 – Drill Rig
Fig 2 – Drill Core
Fig 3 – Black Clays