Vancouver, British Columbia, March 31, 2022 (GLOBE NEWSWIRE) — AIS Resources Limited (TSXV: AIS, OTCQB: AISSF) (“Company” or “AIS”) is the company and its joint venture partner, Spey Resources Corp. (“SPEY”) acquired the Candela II project in Vancouver, Vancouver. We paid US $ 1 million to purchase 100% interest on the project. At the same time, SPEY exercised an option with AIS to acquire an 80% stake in the Candela II project by paying us US $ 1 million. AIS holds a 20% stake in the Candela II project..
Highlights of the Candela II work completed so far:
- 25 surface samples and 3 bulk samples.
- 5 rotary drill holes with 5 holes up to 209 meters.
- The NI43-101 report is produced by Montgomery & Associates.
- Ekosolve ™ reports from sample 002 containing 160ppm lithium. Recovery using multiple cleaning programs extracted over 90% of the lithium contained in the brine. This is the highest known recovery rate recorded and published by a direct lithium extraction system using Ekosolve ™ DLE. To process.
Figure 1-The Candela II project continues to work.
Production well program
A well program is carried out to measure the flow of salt water and determine the porosity and permeability of the aquifer. At the same time, a larger pilot plant is currently being designed to complete the process certification of the Ekosolve ™ solvent exchange DLE lithium process.
SPEY has the option to acquire the remaining 20% stake in AIS for the Candela II project by paying US $ 6 million by March 18, 2023.
Posheets 1 & 2 Options
In June 2021, AIS provided SPEYResources with an optional Socialtos 1 and 2 license for Socials Salar, offering an option fee of US $ 100,000 per exploration license and 2,500,000 Spey common stock.
Spey can earn 100% interest on the property from AIS by exercising the option and paying a total of US $ 1,732,000 (“Purchase price”) Before June 23, 2022. In addition, Spey must complete the property’s US $ 500,000 exploration program prior to June 23, 2022. By exercising the option and acquiring a 100% stake in the property through Spay, AIS will have a 7.5% royalties (after export tax) on sales of lithium carbonate or other lithium compounds from the properties of Positos 1 and 2. For more information, see the press release dated June 24, 2021.
In 2018, AIS completed two drill holes in Positos 1. The results of the analysis performed by Alex Stewart show that lithium values of up to 125 ppm were contained in brine flowing at intervals of 350 m to 400 m above 50,000 L / min. The project was canceled in 2018 due to high magnesium, but with Ekosolve ™ now able to process brine with high magnesium, the project became viable and was reselected in 2021.
Positos 7 & 9 and Yareta III Exploration License Options
AIS also has options for the properties of Posheets 7 and 9 and Yareta III, and is actively looking for a joint venture partner to develop these lithium projects.
Positos 7 and 9 are located at the southern end of Positos Susa. Geophysical TEM surveys and deep trench sampling were completed in 2018. The results showed a low resistivity on the eastern side of the Salar, indicating that sandy units containing salt water may be present. The lithium values analyzed by Alex Stewart in the trench are:
Pit (all values are ppm (parts per million) 10,000 ppm = 1%) Latitude 24 ° 34 ’11 .57 “S Length 67 ° 00’50” (Pit 12)
|Pit number||Lee||Ca||Mg||B||vegetable||K||Senior||Mg: Li|
|15||65 65||453||1011||112 112||121450||2305||8.75||15.6: 1|
|16 16||68 68||468||1088||139||119398||2413||8.85||16.0: 1|
Pit (all values are ppm (parts per million) 10,000 ppm = 1%) Latitude 24 ° 35 ’52 .86 “Length 66 ° 59’20.62” (Pit 17)
|Pit number||Lee||Ca||Mg||B||vegetable||K||Senior||Mg: Li|
|17 17||75||461||1158||148||119869||2587||8.93||15.4: 1|
|18 18||71 71||468||1097||126||121774||2612||9.47||15.5: 1|
|19 19||107 107||407||1508||143||118643||3629||8.17||14.1: 1|
|twenty one||73||733||480||64||35020||1608||19.53||6.6: 1|
Yareta III Exploration License
Yareta III is located at the southern end of Cauchari Salar near Orocobre’s assets (now Allkem ASX: AKE). The project is not Salar rock salt. Gravity and TEM surveys were conducted by Orocobre in 2010 (southeast survey), with results indicating that if salt water is concentrated at the southern end of the Salar, it is deep.
The technical information in this news release has been reviewed and approved by Phillip Thomas, BSc Geol, MBM and FAusIMM MAIG MAIMVA (CMV). This person is a qualified person based on the definition established by National Instrument 43-101 and is President and CEO of AIS Resources.Ltd
Figure 2 – Yareta III exploration license near Orocobre / Allkem.
About AIS Resource Limited
AIS Resources Limited is a listed investment company listed on the TSX Venture Exchange, focusing on the exploration of precious and base metals. AIS’s value-added strategy is to increase the value of mineral resources by better defining them with the aim of acquiring future exploration projects, attracting joint venture partners and increasing the value of the portfolio. We are managed by a team of experienced geologists and investment bankers and have a proven track record of success in the capital markets.
AIS owns 100% of the 28 sq km Fosterville-Tour Lean Gold Project, located 9.9 km from the Fosterville Gold Mine on Lake Kirkland, and of the 57 sq km Bright Gold Project (including the right to acquire 100%). It owns a 60% stake and a 60% stake. A 100% stake in the 58 sq km New South Wales Jargogling Gold Project (with the right to acquire 100%) and the 167 sq km Kingston Gold Project in Victoria, Australia, near Stawell and Navara. We also have a 20% joint venture with Spey Resources Corp for lithium saline in Argentine Inkawasi and Positos Susaral.
On behalf of the board of directors
AIS Resource Co., Ltd.
Philip Thomas, President and Chief Executive Officer
For more information, please contact:
Philip Thomas, CEO
T: + 1-323 5155 164
Martin Element Chairman
T: + 1-604-220-6266
Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this release.
Advisory: This press release contains forward-looking statements. We believe that the expectations reflected in these forward-looking statements are reasonable, but we cannot provide any guarantee that they are correct and should be overly relied upon. There is none. Forward-looking statements, by their very nature, carry inherent risks and uncertainties as they correspond to future events and circumstances. Forward-looking statements contained in this press release are current as of the date of this document and we make publicly forward-looking statements or information unless they are the result of new information, future events, etc. We do not undertake any obligation to update or revise. Mandated by applicable securities law. Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this release...
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AIS Resources Obtains Candela II Lithium Exploration License from Joint Venture Partner Spey Resources and Incahuasi Sarar, Argentina – Ekosolve Process extracts over 90% lithium from brine. CanadianBusinessJournal
Source link AIS Resources Obtains Candela II Lithium Exploration License from Joint Venture Partner Spey Resources and Incahuasi Sarar, Argentina – Ekosolve Process extracts over 90% lithium from brine. CanadianBusinessJournal