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A.I.S. Resources Congratulates Recharge Resources on Signing Pocitos 2 Option Agreement in Salta, Argentina
VANCOUVER, British Columbia, March 03, 2023 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX.V: AIS, OTCQB: AISSF) (the “Company” or “AIS”) congratulates Recha
About this update from Ais Resources Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, March 03, 2023 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX.V: AIS, OTCQB: AISSF) (the “Company” or “AIS”) congratulates Recharge Resources (“Recharge”, CSE: RR) on signing an option agreement with Spey Resources Corp. (“Spey”) whereby Recharge may acquire up to a 100% undivided interest in the Pocitos 2 Project. AIS retains a 7.5% royalty of the FOB price of lithium carbonate or other lithium compounds sold on Pocitos 1 & 2 pursuant to AIS' underlying Option Agreement with Spey Resources. If the Pocitos 1 and 2 options are exercised AIS will receive $1,000,000 and $732,000 respectively on or before June 30, 2023. Both Pocitos 1 and 2 have been optioned by Recharge from Spey. Martyn Element CEO, stated, “I congratulate Recharge on successfully acquiring the Pocitos 2 Option and increasing the size of its potential resource. AIS looks forward to continuing to facilitate exploration work with Recharge as it proceeds with its 2023 Pocitos drilling program. This is another great result for AIS in Argentina.” About Pocitos 1 & 2 Pocitos 1 and Pocitos 2 are 800 hectares and 532 hectares contiguous lithium brine projects on the Pocitos Salar located just outside of Salta, Argentina. Previous surface sampling, trenching and VTEM Geophysics carried out in 2018 suggest the continuity of the targeted lithium brine aquifer continuing from the Pocitos 1 block through the Pocitos 2 block with Pit 10 from trenching on the Pocitos 2 block having the highest trench sample at 181 PPM lithium, the highest lithium value found on the Pocitos salar to date. Drilling from the Recharge’s 2022 drill campaign at Pocitos 1 assayed 169 PPM and over a two-week period averaging 161 PPM Lithium. The 2022 well exceeded Recharge’s technical team’s expectations and that of the measured lithium content of the 2018 discovery wells. Pocitos 2 is permitted to drill two additional wells immediately at Recharge’s go ahead (see Recharge’s news release dated February 27, 2023). About A.I.S. Resources Limited A.I.S. Resources Limited is a publicly traded investment issuer listed on the TSX Venture Exchange focused on lithium, gold, precious and base metals exploration. AIS’ value add strategy is to acquire prospective exploration projects and enhance their value by better defining the mineral resource with a view to attracting j...