A.I.S. Resources Guayatayoc Mina Lithium Project, North Argentina Completes Initial Analysis of Six Brine Samples From Drill Hole 1 With Excellent Mg:Li Ratios
VANCOUVER, British Columbia, Feb. 11, 2019 (GLOBE NEWSWIRE) — A.I.S. Resources Limited (TSX-V – AIS, OTCQB: AISSF) (the “Company” or “AIS”) is pleased to announce that the lithium brine samples taken from Drill Hole 1 (DH1) at the Company’s Guayatayoc Mina lithium project have been analysed by SGS, an international accredited chemistry analysis firm in Salta.
The results are excellent given this hole had to be moved 150 metres east of the target zone to the Quebralenas area where we have drilling rights. We expect to receive our drilling permit for the target zone which is in the Rincondillas area within 30 days of the 28th February 2019 UGAMP meeting.
- Mg:Li ratio is below 8 with an average of 7.1, which means we will have a lower cost of production, in the event we reach the production stage, as we will only need 7 parts of calcium hydroxide to remove the magnesium.
- Lithium range is 95-106ppm. Our minimum commercial value is 187ppm in our production model. Pit G6 sampled 270ppm Li which was previously reported.
- Potassium and boron are both low thus the sodium sulphate input for the potassium removal and the ion exchange system to remove the boron will not be of any significance.
A table accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/98621de9-cdb7-488d-befb-26a1332c9def
Phil Thomas CEO said that, “These results are great news given the location where we drilled was not optimal. We intersected porous green and brown clays containing salt and sand and didn’t encounter any major fresh water sub-aquifers that would have collapsed the hole and contaminated it with fresh water. The lithium values are in the ball park but more important is the lithium to magnesium ratio, being sub 8 on average. This is encouraging news and we look forward to drilling Rincondillas in the target zone where the resistivity areas are sub 0.015ohm-m where we expect to encounter much higher lithium values and higher specific gravity due to lithium concentration at depth. We have four drill holes planned in the target zone with a depth of 250m each. Now that we have the lithology from DH1 it enables us to improve the accuracy of our geological model.”
Fig 1. The star shows the location of DH1. G1- G36 show where we have trenched and sampled and the solid yellow lines are the VES geophysics traverses. The black lines show the community boundaries.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/7448ccac-7a61-4b25-899c-e3638731025f
Fig 2. Is the geophysics at 100m depth. The DH1 location was moved another 50 metres to the east away from the target zone, to the 0.025 Ohm-m zone. The community boundaries are marked in red. The geophysics traverse line is in black.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/77c5e732-4565-4f17-9a97-f3d5f81e9554
Fig 3. Shows traverse 11750 or line 1 in Rincondillas area and the target zone (dark purple area) which is 150m in depth and 7 kilometres wide with a length of 5 kilometres. The target zone has a resistivity of 0.015ohm-m, lower than salt water which is 0.025 Ohm-m.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/5b332a26-6d97-4fe0-8bda-683d4cec1b56
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.