VANCOUVER, British Columbia, Feb. 07, 2019 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX-V – AIS, OTCQB: AISSF) (the “Company” or “AIS”) is pleased to announce that drill hole one on Guayatayoc Mina was completed 6 February 2019. A brine sample will be taken at the 400 metre level today and downhole geophysics undertaken over the weekend to determine porosity and permeability. Brine sampling commenced at the Guayatayoc Mina lithium project in Northern Argentina on January 29, 2019 at 295 metres with further samples taken at the 350 metre and 400 metre intervals.
SGS, an international accredited chemistry analysis firm in Salta advise that preliminary results will be available in the next three to four days and full analysis results late next week.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/2323649b-2312-48ae-bfc9-d17a54e9a31c
Phil Thomas CEO said, “Drilling was very fast and we intersected a sand unit near the bottom of the hole which didn’t have as much brine as the clay halite units above it. The sand unit was possibly an ancient river area where clean sand had settled but was not compacted. Dr Romina Steinmetz who completed her PhD at Guayatayoc visited the drill site and inspected the core. This analysis was consistent with the geophysics so there was no advantage to drill deeper. We are looking forward to the results from SGS and downhole geophysics as it will have a lot of information we can use when we drill in Rincondillas area in Guayatayoc III. It is great that we got the Rincondillas UGAMP meeting scheduled for 28 February 2019 allowing us to progress this exciting lithium project”.
Qualified Person
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
Phillip Thomas
President and CEO
Contact
Phillip Thomas - President and CEO
E: pthomas@aisresources.com
Website: www.aisresources.com
Martyn Element
Chairman
T: 604 687-6820
E: melement@aisresources.com
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.