Just 10 kilometers as the crow flies from Kirkland Lakes world famous Fosterville gold mine in Victoria, Australia AIS Resources Limited (TSX: AIS, FRA: A8S) a second occurrence of the high-grade Fosterville type and is now providing increasing evidence for its geological hypothesis. The Company has just completed 31 RC wells, each 60 meters in length, along three lines to test a geophysically significant gravitational anomaly that runs north-south through the Fosterville-Toolleen property. As hoped, significant quartz intercepts were found near the gravity anomaly (yellow area, see Figures 1 and 2 center).
1,800 sacks of rock fragments are now there for evaluation, which, among other things, are to be examined by leading experts for scout elements. It is particularly encouraging that the drilling has encountered shale sediments of the same age as those found in the Fosterville gold mine at Kirkland Lake. These layers of slate (called turbidite) are clearly delineated under a layer of gravel, which on the exploration license also contains gold, but whose rock is geological from a later epoch.
Fig. 1. Borehole with gravitational investigation in the background and position of the boreholes. The pink hole had the highest gold grade.
CEO Phil Thomas: “We are only at the beginning of our drilling program”
Phil Thomas, CEO, commented, “The drill program on our Fosterville-Toolleen gold project is proving to be a great success as we have shown that we are in the right area to discover tension veins and foothills full of quartz with gold mineralization. In holes 27 Gold was identified in the samples through 31 and this is just the beginning of our drill program. Percussion and RC drilling are very economical to use. As the quartz-gold mineralization occurs in broad quartz veins, we will be through fence-line drilling and soil samples can detect arsenic and other pathogenic elements in these mineralized systems. “
Fig. 2. The red line shows the area of particular interest. The pale green paleo canals are where gold was found. The fuzzy blue lines are interpreted faults. The mineralization at Fosterville-Toolleen occurs near the faults where the yellow gravity high is located, outlined by the red line in Figure 2 above.
AIS ‘chief geologist Denis Walsh, who previously worked for Kirkland Lake on Fosterville, added: “It seems we have found the right area to drill, with large quartz intercepts. Now we need to better define the structure to accommodate the mineralized corridors The evaluation of arsenic and other Pathfinder elements will be very important for our exploration. “
The typical high grade ore zones at the Kirkland Fosterville Gold Mine are only between 2 and 30 meters wide. Because AIS knows the lithological and geochemical signature of the Fosterville gold deposits exactly, the knowledge gained there can be used for exploration on Fosterville Toollen. The high grade mineralization sought should be particularly concentrated where brittle fractures run along weak zones through the shale. The interaction of the rock type with folds and faults leads to secondary structures that accommodate higher-grade gold mineralization in a comparatively small area. That is our exploration target. “
Conclusion: Of course, it helps when the former top geologist from Kirkland Lake is part of his own team. No one knows better than Denis Walsh how and what to look for to discover a second Fosterville site. AIS Resources has taken an important step further with its 31 RC holes and is increasingly circling the exploration target. The key finding is that the drilling has intersected a shale of the same type and age that hosts the Fosterville occurrences. In the coming weeks, the 1,800 drill samples will be analyzed for traces of gold, but also for scout elements. This will provide valuable information for the upcoming diamond drilling. It would be the first ever on Fosterville-Toolleen. It is foreseeable that AIS Resources will need fresh money for further exploration. But based on the information available, getting the right investors on board now shouldn’t be too big a problem. The arrival of new investors could also initiate a revaluation, because one thing is certain: A drilling success in the style of Fosterville would catapult AIS onto the radar of all international gold investors practically overnight. We’re sticking to the story.
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In accordance with Section 34b WpHG and Section 48f Paragraph 5 BörseG (Austria), we would like to point out that clients, partners, authors or employees of GOLDINVEST Consulting GmbH can hold shares in AIS Resources and thus a conflict of interest may exist. Furthermore, we cannot rule out that other stock market letters, media or research firms will discuss the values recommended by us during the same period. Therefore, symmetrical information and opinion generation can occur during this period. Furthermore, there is a consulting or other service contract between GOLDINVEST Consulting GmbH and a third party in the issuer’s warehouse (AIS Resources), which creates a conflict of interest. This third party can also hold, sell or buy shares in the issuer and would benefit from an increase in the price of AIS Resources shares. GOLDINVEST Consulting is remunerated by this third party for the creation of articles on AIS Resources, which represents a further conflict of interest.
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