Business
InvestmentPitch Media Video Discusses A.I.S Resources' Binding LOI to Acquire the Yalgogrin Orogenic Gold Project in Historic West Wyalong Gold Corridor of central NSW, Australia - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - July 21, 2020) - A.I.S. Resources Limited (TSXV...
About this update from Ais Resources Ltd
[{"type":"text","content":"InvestmentPitch Media Video Discusses A.I.S Resources' Binding LOI to Acquire the Yalgogrin Orogenic Gold Project in Historic West Wyalong Gold Corridor of central NSW, Australia - Video Available on Investmentpitch.comVancouver, British Columbia--(Newsfile Corp. - July 21, 2020) - A.I.S. Resources Limited (TSXV: AIS) (OTCQB: AISSF) has signed a binding letter of intent to acquire the Yalgogrin orogenic gold project in Australia. The project is located approximately 37 kilometers west of the town of West Wyalong and 595 kilometers north of Melbourne in the historic West Wyalong gold corridor of central New South Wales, which produced 445,700 ounces of gold between 1894 and 1921.For more information, please view the InvestmentPitch Media \"video\" which provides additional information about this news and the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter \"A.I.S. Resources\" in the search box. Cannot view this video? Visit:http://www.investmentpitch.com/video/0_y2a6hlq0/AIS-Resources-signs-binding-LOI-to-acquire-advanced-gold-project-in-NSW-AustraliaA.I.S. will acquire two exploration licences, the EL5891 tenement, which is 280 hectares and is completely surrounded by Thomson Resources and EL6030 which is 5,600 hectares, and encompasses 2 historical gold mines. This region has seen significant gold mining over the past 100 years and currently has three major operating gold projects:Cadia Newcrest located 220 kilometers northeast and producing 900,000 ounces of gold a year,Lake Cowal Gold Mine located 40 kilometers from the Yalgogrin project, that was purchased by Evolution for $550 million, andNorth Parkes, a copper and gold mine 168 kilometers to the northeast that has produced 1.464 million ounces of gold and 1.168 million tonnes of copper over 25 years.The property has reported Auger results of 12.5 and 32.3 grams per tonne gold and 14 drill holes with several intercepts ranging from 1.9 to 21.5 grams per tonne gold. The tenement offers open high-grade near surface intersections, untested historic workings with reported high-grades, and bulk tonnage lower grade potential.Phillip Thomas, President & CEO, stated: \"AIS is very pleased to have secured this opportunity to explore and develop an advanced-stage gold project in the exciting historic gold district of New South Wales, Australia...