A.I.S. Resources Ltd. (TSX.V: AIS) reports that in the third drill hole of its 1,500-meter program, they have come across visible gold in the Golden Bar Prospect. It was discovered in a spurry quartz-carbonate vein at the 75.5-meter mark, linked to the Golden Bar Reef. To the Company’s surprise, it appears the gold mineralization is spread across multiple major and minor faults, which is lower than the 100-meter mark they initially predicted. Within the newly-modified zone, arsenopyrite, sphalerite, and pyrite were recognized. As part of the examination, AIS drilled two holes at Home and Golden Bar Reefs, and the results revealed arsenic concentrations that surpassed 10,000 ppm (1%), which is a sign of gold’s presence. The drilled intersections are in line with the 3D model created from available LiDAR and vintage mine plans.
According to Kenny’s records from 1966, it is thought that mining operations in the area began in 1865 and ended in 1905, with Home Reef and Shaws Reef being the main sites. Investigations revealed that Shaw’s Reef yielded an average of 10.14g/t from 487.7 tonnes of ore, and Home Reef yielded an average of 22.28g/t from 287 tonnes of ore. This result gives a weighted average of 14.66g/t from 779.3 tonnes of ore, with auriferous pyrite contributing 1.2-1.5g/t. LiDAR analysis showed that Home Reef was mined up to a length of 120 meters, while Shaws Reef was mined to 80 meters. AIS attempts to demonstrate that mineralization is continuous and extends along the mineralized reefs.