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A.I.S. Resources Identifies Prospective Drill Targets at Reliance Reef and Provides Bright Gold Project Update
VANCOUVER, British Columbia, May 19, 2022 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX.V: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces that the Co
About this update from Ais Resources Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, May 19, 2022 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX.V: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces that the Company has identified four low impact drill hole locations in the newly developed Reliance Reef area. Drilling, has been designed to test the exploration prospect at Reliance and evaluate the drill rig suitability for resource drilling at Golden Bar. The Company is collaborating with the State Government roads manager and the Company's community relations team is continuing to engage with the community to advise on the proposed work. Hillsborough-Catherine-Elgin-Reliance Reefs and Mines – Historical Analysis Recent historical research of production related to the Reliance Mine finds it the richest producer in the district. A newspaper article from 1897 shows that a crushing from ore at surface yielded an incredible 115 oz./ton or 3,576.5g/t1. Other historical yields included 3831 oz at 44g/t at the Elgin Reef, and 9646 oz at 24g/t at the Hillsborough Reef. Little follow-up production was uncovered with two references of production showing 335oz for the quarter of June 19052 and 274oz. for the March quarter of 19063. Reliance Drill Program Recent three-dimensional (3D) modeling utilizing open file LiDAR demonstrates the high probability that the upper Elgin Reef is the same as that worked at Reliance. A maiden drill program here is designed for 815m and staged in two parts. There is a near target drill fan program to test width, proximity, and strike orientation with a further step out program to test continuity at depth and orientation. Also, it is important to understand the relationship of this saddle reef to any fold hinges that are projected to exist locally as 3D modeling demonstrates that the lower Elgin Reef occurs in proximity to an anticline which at this point is mapped to be 4m wide from historic mine plans. Gold can be found to deposit in saddle reef structures. It is anticipated that the program should be able to determine the shoot below and between historic workings lending further credibility to the concept that the Reliance Reef and upper Elgin Reef are the same structure. It is important to note that the Elgin workings were intersected by a low angle post mineralization fault (hence the upper and lower Elgin Reefs) with displacement of unknown dimension....