ARSMF - Ares Strategic Mining Accelerates Mine Building Activities. Ramp Installation Near Fluorspar Mineralization.
(TheNewswire)
-
Ramp closes on fluorspar mineralization zones.
-
The ramp installation clears clay deposits,concurrently locating high fluorspar content clay suitable forprocessing.
-
Once fluorspar is reached, a ventilation system will beinstalled, followed directly by mining activities.
-
The mined product will provide feed for the lumps plantcurrently under construction at Ares’ processing site.
-
The completion of the mine installations is planned tocoincide with the completion of the lump’s construction and providefirst revenue for Ares.
Vancouver, B.C. - TheNewswire - June 10 th , 2024 — Ares Strategic Mining Inc.(“Ares” or the “Company”) (CSE: ARS) (OTC:ARSMF) (FRA: N8I1),is pleased to announce the Company has accelerated its mineworksinstallations, bringing the Company closer to its first miningactivities at an industrial scale for the first time at the SporMountain district.
As earth works continue, with site clearance, equipmentand worker facilities have been constructed at the Lost Sheep minearea. Ares is working with Provo Mining to ensure that the operationof the mine and the processing of fluorspar is set to start later thisyear, with mining permits and authorizations already completed. Aresplans to bring to market a responsibly extracted high-purityfluorspar, to supply the steel, chemical, and EV sectors with adomestic and sustainable product.
Illustrationdemonstrates progress to date (green), together with the remainingdistance until the fluorspar mineralization is intersected (blue).Fluorspar mineralization zones illustrated left of ramp model.
Ares is undertaking simultaneous activity across itsmine site and processing site to expedite the Utah operation’sdevelopment. In addition to the mine preparation, the Company iscurrently constructing its lumps plant at its 50-acre industrial site.The Company also recently paid in full for a new flotation plantcapable able of delivering the highest-grade fluorspar products neededby industry, enabling the Company to have multiple product lines; thatplant will be delivered to site later this year.
James Walker, CEO and President of the Company, said,“All our current work is building towards making Ares a leadingdomestic supplier of fluorspar. The Company and team have made significant progress in the past year. The developmentis proceeding expeditiously and is fortunate to have very professionaland experienced teams working on both the mine and the processing siteto bring them to operational capacity. We are looking forward tokeeping our shareholders updated with our progress during this veryproductive period of development for our Company andproject.”
In 2018 the U.S. government classified fluorspar as aCritical Mineral, “deemed critical to U.S. national security and theeconomy.” Fluorspar remains the only non-metallic Critical Mineral,which is 100% imported in the entire country. Fluorspar’sclassification as a Critical Mineral in the United States translatesto a faster permitting period, enabling mining operations to initiatemore quickly than operations for conventional minerals.
Lost Sheep Fluorspar Project – Delta, Utah
-
100% owned – 5,982 acres – 353 Claims.
-
Located in the Spor Mountain area, Juab County, Utah,approximately 214 km south-west of Salt Lake City.
-
Fully Permitted – including mining permits.
-
NI 43-101 Technical Report identified extensivehigh-grade fluorspar with low levels of impurities.
-
Mining plan approved by BLM 1
First approved by Rex Rowley – Area Manager, Bureauof Land Management – 24th August 1992.
1 Renewed by Mike Gates – Minerals Program Manager,Bureau of Land Management – 12th December 2016.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ARES STRATEGIC MINING INC.
James Walker
Chief Executive Officer and President
For further information, please contact James Walker byemail at jwalker@aresmining.com
DISCLOSURE AND FORWARD-LOOKINGSTATEMENTS:
Companies typically rely oncomprehensive feasibility reports on mineral reserve estimates toreduce the risks and uncertainties associated with a productiondecision. Historically, situations where the issuer decides to put amineral project into production without first establishing mineralreserves supported by a technical report and completing a feasibilitystudy have a higher risk of economic or technical failure, though someindustrial mineral ventures are relatively simple operations with lowlevels of investment and risk, where the operating entity hasdetermined that a formal prefeasibility or feasibility study inconformance with NI 43-101 and 43-101 CP is not required for aproduction decision. Based on historical engineering work, geological reports,historical production data and current engineering work completed orin the process by Ares, the Company intends to move forward with thedevelopment of its Utah asset.
Certain information in this newsrelease may contain forward-looking statements that involvesubstantial known and unknown risks and uncertainties. Forward-lookingstatements are often identified by terms such as “will”,“may”, “should”, “anticipate”, “expects” and similarexpressions. All statements other than statements of historical factincluded in this news release are forward-looking statements thatinvolve risks and uncertainties. There can be no assurance that suchstatements will prove to be accurate and actual results and futureevents could differ materially from those anticipated in suchstatements. Important factors that could cause actual results todiffer materially from the Company’s expectations include thefailure to satisfy the conditions of the relevant securitiesexchange(s) and other risks detailed from time to time in the filingsmade by the Company with securities regulations. The reader iscautioned that assumptions used in the preparation of anyforward-looking information may prove to be incorrect. Events orcircumstances may cause actual results to differ materially from thosepredicted, as a result of numerous known and unknown risks,uncertainties, and other factors, many of which are beyond the controlof the Company. The reader is cautioned not to place undue reliance onany forward-looking information. Such information, although consideredreasonable by management at the time of preparation, may prove to beincorrect and actual results may differ materially from thoseanticipated. Forward-looking statements contained in this news releaseare expressly qualified by this cautionary statement. Theforward-looking statements contained in this news release are made asof the date of this news release and the Company disclaims anyintention or obligation to update or revise such information, exceptas required by applicable law.
Copyright (c) 2024 TheNewswire - All rights reserved.