A.I.S. Resources Lines-Up Big-Ticket Gold Projects In Western Australia

Summary

• I.S. mines are located near Casterton in the Western District of Victoria.
• The company plans to acquire an additional 596 sq. km. near Casterton for exploration.
• One of its important projects is the Fosterville-Toolleen Gold Project.

Precious metals, like gold, are often considered a safe investment for a reason. Time and again, this yellow metal, for its ageless value, gave the stability whenever there has been an economic crisis. A.I.S. Resources Limited is one of the leading Australian companies involved in the gold industry.

The company holds some major stakes in the mineral-rich Western Victoria, where it plans to acquire an additional 596 sq. km., which will bring the total area for exploration to 852 sq. km.

The properties are located near Casterton in the Western District of Victoria, which contains rich deposits of gold, nickel, copper, zinc, chrome, and other precious and base metals and gemstones.

On February 1, 2021, the company announced the signing of a 90-day option agreement to acquire an exploration license for the new property called “Casterton EL006958” in the Glenelg zone.

The option agreement has an extension provision up to July 31, 2021. If it is executed, AIS can acquire the property for AUD$1.5 million in cash and shares.

@Kalkine Image 2020

An on-site inspection by AIS has shown that the concentrated nickel and chromium deposits found in the hummocks were at a high 1,200 ppm (parts per million) and 1,100 ppm, respectively. The base metal deposits of copper and nickel were found in the staurolite zone.

Furthermore, low-grade nickel was found in the hummocks north of Casterton (Bush et al. 1995b). The site is also rich in minerals like zinc and lead. In 1908, these minerals were extensively mined near the Nolans Creek, which is close to the Casterton site.

Casterton offers a fantastic opportunity to develop a multi-commodity project stream. According to CEO Phillip Thomas, the project would significantly enhance the company portfolio.

A.I.S.’s key mines for the yellow metal are located near the Fosterville Gold Mine, famed for its high-grade gold. The company’s gold mine projects included Yalgogrin, Kingstone, and Fosterville-Toolleen, all located in the Lachlan Fold Belt of eastern Australia.

However, of the three, the Fosterville-Toolleen Project is one of the most sought after by investors. 

The project covers an area of 26 sq. km. with a production capacity of 7,000 tonnes. The site is close to Kirkland Lake Gold’s (NYSE: KL, TSX: KL) Fosterville Mine, one of the lowest-cost gold producers in the world.

The 167 sq. km-long Kingston Gold Project is located about 35 km northwest of Stawell, Victoria. The property is ready for mining. It was previously explored by WMC and BHP.

The Yalgogrin Project covers an area of 56 sq. km. and is located some 37 km west of West Wyalong. It is also ready for mining. Between 1894 and 1921, West Wyalong had produced 445,700 tons of gold.

A.I.S. Resources is listed on the Toronto Stock Exchange Venture with the symbol (TSXV:AIS).

Its stocks were priced at C$0.08 a share at 1:17 pm ET on Wednesday, and a total of 66,000 shares were traded. The company has a market cap of $6 million.

The company hopes to make some big progress in the coming months as the planned mining activities are rolled out in full steam. Gold stocks can be ideal for investors looking for stable stock, which can provide both regular income and long-term growth.