A.I.S. Resources Partners with Riversgold for New Prospecting
A.I.S. Resources and Riversgold's Strategic Agreement
A.I.S. Resources Limited (TSXV: AIS) recently entered an earn-in agreement with Riversgold Ltd, allowing A.I.S. to gradually acquire up to 75% ownership in the promising Saint John IOCG/Porphyry Project. This project holds significant mineral potential located in a favorable mining jurisdiction.
Exciting Partnership for Mineral Exploration
Marc Enright-Morin, CEO of A.I.S. Resources, expressed enthusiasm for the collaboration, stating that it presents a unique opportunity to explore high-grade mineralization combined with excellent infrastructural support. According to the CEO, this region is exploration-ready, with two drill programs already sanctioned, promising a fruitful venture ahead.
The Role of Riversgold
Riversgold Executive Chairman David Lenigas noted that this partnership allows Riversgold to maintain a substantial stake in the project's potential while shifting focus towards their large-scale project in Western Australia. This collaboration emphasizes A.I.S.'s ability to advance drilling operations immediately.
Overview of the Saint John Project
The Saint John Project is recognized as a large-scale IOCG/porphyry target, strategically focused on three critical minerals: gold, copper, and antimony. Covering an impressive 101 km², it is situated close to various infrastructure amenities including transport and utilities, promising enhanced operational efficiency.
Geological Insights and Potential
Recent geological assessments reveal promising findings. For instance, surface samples from the Little Lepreau Prospect show notable high grades of gold, silver, and copper, with exceptional results from selective samples measured at 41.6 g/t gold and 1600 g/t silver. Additional surveys have indicated strong signatures that could correlate with rich mineralization zones.
Planned Exploration Activities
Upcoming exploration efforts include extensive MobileMT and IP surveys aimed at refining drill targets within the area, encompassing a budget of approximately CAD $300,000. A projected drilling initiative of 2,000 meters is slated to commence in 2025 to further assess mineral potential.
Terms of the Collaboration
Upon signing the agreement, A.I.S. will issue 2,860,000 shares to Riversgold as part of the initial consideration. The financial obligations for A.I.S. include expenditures of CAD $400,000 in the first year, which will cover preliminary exploration activities, and progressively raised investments leading to a potential 75% ownership stake enabled through the commitment to spend CAD $3 million in subsequent years.
Next Steps and Future Developments
The strategic direction for A.I.S. Resources includes a focus on exploration advancements at Saint John. With an aggressive exploration plan and a robust team to guide operations, A.I.S. aims to provide updates as the project evolves and progresses towards realization.
About A.I.S. Resources Limited
A.I.S. Resources Limited is a publicly traded company on the TSX Venture Exchange, focused on exploring **and** developing natural resource projects. The company's expertise lies in identifying promising opportunities and leveraging technical proficiency and capital resources to unlock value.
Frequently Asked Questions
What agreement has A.I.S. Resources signed?
A.I.S. Resources has signed an earn-in agreement with Riversgold allowing A.I.S. to acquire up to 75% of the Saint John IOCG/Porphyry Project.
What is the key focus of the Saint John Project?
The project focuses on gold, copper, and antimony, revitalizing interest in an area recognized for its mineral-rich potential.
What are the exploration plans for the future?
A.I.S. Resources plans comprehensive surveys and drilling programs to confirm mineralization and identify further resource potentials.
How does the partnership benefit A.I.S.?
The partnership enables A.I.S. Resources to leverage Riversgold’s experience while maintaining a focus on exploration within a safe jurisdiction.
Who can provide more information about A.I.S. Resources?
For further information about A.I.S. Resources, contact CEO Marc Enright-Morin at +1-778-892-5455 or email marc@aisresources.com.
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