Business
A.I.S. Resources maiden drill program intersects high-grade visible gold at Golden Bar Prospect Bright, Victoria Australia
VANCOUVER, British Columbia, May 16, 2023 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX.V: AIS, OTCQB: AISSF) (the “Company” or “AIS”) has concluded the ini
About this update from Ais Resources Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, May 16, 2023 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX.V: AIS, OTCQB: AISSF) (the “Company” or “AIS”) has concluded the initial drill program at the Bright Property with a total of 597.6m metres drilled at Golden Bar and 523.6m drilled at Reliance prospect for a total of 1,121.2m drilled from May 2022 to February 2023. Highlights are: Golden Bar GBDD003 returned; 75.35 to 77.1m, 1.75m @ 1.57 g/t (inc. 0.3m @ 2.13 g/t, of visible gold) Drill hole GBDD006 (see Figure 1 through Figure 5 and Figure 7) encountered a broad zone of sulphide, quartz reef, and silicified shearing between 113.1 – 125.4m, demonstrably good signs of gold mineralisation. Significant results from GBDD005: 0.45m @ 18.56 g/t Au and 4,807 ppm As Significant results from GBDD006: 1.5m @ 1.34 g/t Au and 2,912ppm As from 113.2m 2.65m @ 6.97 g/t Au and 2,72ppm As, including 1m @15.9 g/t from 122.9m Positive new prospect surface geochemistry Myrtle Reef - High grade surface face sample 1.2m@ 14.22 g/t Au (lab repeat). Broad low-grade shear related gold assayed in surface sampling indicated north of Rose, Thistle, and Shamrock mine. Figure 1: Golden Bar Prospect drilled holes over LiDAR plan with traced tracks and surface expressions of controlling reef structures. Figure 2: Section for GBDD003 and GBDD004A. Figure 3: Golden Bar Reef and new reef intersection from hole GBDD006 between 113.1 through 125.4m. Refer to appendix 1 for collar location data from the Golden Bar drilling campaign. The drill program at Golden Bar was designed to test the geological model down plunge of the historic Shaws, Home, and Red Leader reef workings where total of 597.6m metres has been completed. Figure 5: New reef (left) selection from high grade interval 124.450 - 125.45m in GBDD006. Sulphide and quartz veining. Figure 4: New reef (right) stringer style arsenopyrite mineralisation in quartz. Figure 6: Golden Bar long section, looking north-east. Historic mined areas in colour modified from (Kenny, 1966) Combined historical production at Golden Bar and adjacent reefs was 58,753 ton of ore for 20,479 ounces of gold at a grade of 10.84 g/t, see Table 2. The grades returned from this latest drilling program are consistent with these grades. By 1905 mining fronts associated with the Home Reef and Shaw’s Reef had concluded. At the conclusion of mining, ...