VANCOUVER, Jan. 29, 2018 /CNW/ - A.I.S. Resources Limited
(TSX-V: AIS) (OTCQB: AISSF) (the "Company" or "AIS") is pleased to
announce that seismic testing has detected three distinct aquifers
over a broad area at its Chiron Project in the Pocitos Salar,
Salta Province, Argentina.
(Photo:
https://mma.prnewswire.com/media/634368/A_I_S_CHIRON_PROJECT.jpg)
Preliminary highlights from the TEM (Transient Electromagnetic
Survey) program are as follows:
- Low resistivity sequences interpreted as aquifers have been
detected in what correlates to sand-rich units at depths of 10
meters, 20 meters and 100 meters at each of AIS's four Chiron
concessions.
- Extremely low resistivity (0.4-1.0 ohm-m) at each of 19 data
points covering the 27 sq. km project suggests the potential for
lithium brines and at scale;
- Chiron appears to be the preferred area in the salar for brine
saturated sequences, based on seismic data, and will be drill
tested shortly (in February) with an 8-hole, 3,200-meter drill
program.
Further geophysics modelling data will be available in 7-10
days, immediately ahead of the commencement of drilling.
Phil Thomas, Chief Operating
Officer and exploration director of A.I.S., stated: "This initial
seismic data from Chiron based on the TEM geophysics strongly
supports our case for acquiring these strategic concessions.
Together with our Guayatayoc Project to the northwest in Jujuy
province, where we've made excellent progress with our pilot plant
production chemistry, A.I.S. is on track for a breakthrough year as
an emerging new producer in the lithium brine space in Argentina."
Guayatayoc Update
Crews will be mobilized to Guayatayoc to commence a 14-hole,
4,000-meter program upon receipt of final drilling permits and
completion of drilling at Chiron.
The program at Guayatayoc will test grade, porosity and
permeability and include a 30-day pumping test of the aquifers.
This will be followed by geohydrology, reservoir modelling and an
initial resource report. Based on results the Company may proceed
to a Mineral Resource Report followed then by a definitive
Feasibility Study, to be delivered in 2018.
When permits are granted the company intends to follow the
mineral reserve estimations with civil works at Guayatayoc
subject to pond permitting by the government in Jujuy. The
management team will be in Argentina in February to progress the
permitting process and exploration of Chiron.
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
portions of this news release, and has approved the disclosure
herein. Mr. Thomas is not independent of the Company as he is an
officer and 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 early-stage projects worldwide that have strong potential
for growth with the objective of providing significant returns for
shareholders. The Company's current activities are focused
exclusively on the exploration and development of lithium brine
projects in northern Argentina.
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.
On Behalf of the Board of Directors,
A.I.S. Resources Limited
Marc Enright-Morin
SOURCE A.I.S. Resources Limited
