Workflow
Natural Resource Exploration
icon
Search documents
A.I.S. Resources Corporate Update
Globenewswire· 2026-03-02 11:30
Core Insights - A.I.S. Resources Limited has liquidated its marketable securities, realizing total gross proceeds of US$2,749,048 and achieving an internal rate of return of over 20% on its investment [1] - The company plans to utilize the proceeds to advance its exploration program, strengthen its balance sheet, and evaluate new opportunities [2] Financial Performance - The recent liquidation of Buda Juice Inc. shares generated US$2,249,048, contributing to total gross proceeds of US$2,749,048 [1] - The internal rate of return on the investment exceeded 20% [1] Strategic Initiatives - The company is well-capitalized and positioned to pursue its strategic goals, including the Saint John exploration program [2] - The exploration program will commence with sampling, trenching, and geophysics to build on the work done in 2025 [2] Project Overview - The Saint John Project is a district-scale IOCG/porphyry exploration target, focusing on gold, silver, copper, and antimony [2] - The project spans 101 km² in a Tier-1 mining jurisdiction, located 20 km west of Saint John, New Brunswick, and 50 km from the U.S. border [3] Infrastructure and Workforce - The project benefits from excellent infrastructure, including highways, rail, deep-water port, power stations, and a skilled local workforce [3] Geological Highlights - Surface samples from the Prince of Wales Prospect showed gold up to 11.4 g/t, silver up to 1,050 g/t, copper up to 10.55%, and lead up to 18.85% [5] - The Roadside Quarry Prospect reported surface samples with gold up to 41.6 g/t, silver up to 1,600 g/t, and copper up to 7.64% [8] Exploration Plans - The company plans to expand drone MobileMT and IP surveys across the project and refine drill targets with a budget of approximately CAD $300,000 [7] - A maiden drilling program of 2,000 meters has been approved for the Little Lepreau Prospect [7][8]