VANCOUVER, British Columbia, April 27, 2018 /PRNewswire/ --
A.I.S. Resources Limited (TSX-V: AIS) (OTCQB: AISSF) (the "Company" or "AIS") is pleased to announce it has engaged a second drilling contractor, AGV Falcon S.R.L. of Salta, Argentina to complete up to four diamond drill holes for a total of 1,300 meters across four tenements at its Chiron project in the Pocitos Salar.
AGV Falcon has mobilized a drill rig onto the site and is expected to begin drilling on Saturday 29 April 2018. AIS is looking to expedite exploration at Chiron to gather all the necessary data prior to purchasing the project.
Phil Thomas, Chief Operating Officer and exploration director of A.I.S., stated: "It will be exciting to see the brine results in the core and how well it correlates with the geophysics we have completed. We will drill one hole in Pocitos 2 down to 400m to examine the lithium concentration in the brine at depth. Our modelling suggests there is a significant aquifer at depth but this will give us proof. I will be overseeing the data collection and ensure that QA/QC is monitored and our local geologist will be supervising the packer testing."
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 portions of this news release, and has approved the disclosure herein. Mr. Thomas is not independent of the Company as he is an officer and 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 early-stage projects worldwide, that have strong potential for growth with the objective of providing significant returns for shareholders. The Company's current activities are focused exclusively on the exploration and development of lithium brine projects in northern Argentina.
On Behalf of the Board of Directors,
A.I.S. Resources Limited
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.
A.I.S. Resources Limited
President and CEO