VANCOUVER, British Columbia, March 14, 2019 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX-V – AIS, OTCQB: AISSF) (the “Company” or “AIS”) is pleased to announce that its Guayatayoc option agreement has been extended to June 15, 2019 at no additional cost to AIS. The extension was granted as a result of the UGAMP meeting being deferred until such time as the President of the Rincondillas Community signs the Assembly document which was a Department of Mining pre-requisite for the meeting.
Our team in Jujuy will continue dialogue with the Rincondillas Community to respond to their queries and resolve concerns preparatory to signing the Assembly document and scheduling the UGAMP meeting.
We have provided the Jujuy Department of Mining with the results of our base line environmental study that monitored air, water and soil in the locations they indicated. The results of the surface water testing were very encouraging with commercial grades of lithium concentrated. The table below sets out the values of the samples taken from Guayatayoc Mina.
|Sample No||lithium ppm||Boron||Potassium ppm|
Note 1. These lithium values are above the benchmark values of being commercially viable.
Note 2. The potassium lithium ratio rule of thumb is 1:15 i.e. 10,000ppm of K indicates rates of approximately 660ppm Li.
Photos accompanying this announcement are available at:
Phil Thomas CEO said that, “We were very appreciative of the concession that Ekeko SA has made to extend our option from March 31, 2019 to June 15, 2019. The team in Jujuy are very hopeful that all the outstanding issues can be resolved and we can move on to the next three drill holes to progress this exciting lithium brine project. We remain the only option holder with a Mining Permit in the salar.”
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
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.