VANCOUVER, British Columbia, July 19, 2023 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX-V: AIS, OTC: AISSF, FRA: 5YHA) (the "Company" or "AIS") wishes to confirm the recent decision of C29 Metals Limited (C29) not to proceed with their option to acquire an 80% interest in the Pocitos 7 & 9 lithium concessions in Salta, Argentina. The due diligence completed by C29, confirmed concerns around minimal lithium grade and porosity of the aquifer zone encountered during the C29 drill program. Considering these findings, AIS has declined the opportunity to exercise this option on its own behalf.
Andrew Neale, President & CEO of AIS, commented, "This decision, while disappointing, was not unexpected, and simply confirms that not all salars (literally, a salt encrusted depression) contain lithium, and of those that do, not at levels sufficient to support commercial development. We have benefitted from the professional relationship with C29, respect their decision, and wish them the best as they focus their efforts on their high potential copper and gold properties in Australia."
About A.I.S. Resources Limited
A.I.S. Resources Limited is a publicly traded investment issuer listed on the TSX Venture Exchange focused on natural resource opportunities. AIS's value add strategy is to acquire early-stage projects and provide technical and financial support to enhance their value. The Company is managed by a team of experienced engineers, geologists, and investment bankers, with a track-record of successful capital market achievements.
On Behalf of the Board of Directors, A.I.S. Resources Limited.
Andrew Neale
President & CEO
Email: aneale@aisresources.com
Website:
ADVISORY: This press release contains forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Company 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 forward-looking statements contained in this press release are made as of the date hereof and the Company 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.
