ARSMF - Ares Strategic Mining Commences Construction Work in Preparation for Plant Installation
(TheNewswire)
Vancouver, B.C. - TheNewswire - May 20 th , 2021 — Ares StrategicMining Inc. (“Ares” or the “Company”) (TSXV:ARS) (OTC:ARSMF)(FRA:N8I1), is pleased to announce the commencement of constructionwork at the Company’s Industrial Site in Delta, Utah.
The site will host the Company’s lumps plant, designed to producemetallurgical lumps by concentrating and solidifying the friable rawfluorspar into industry friendly briquettes, which are usedpredominantly in the steel industry to reduce manufacturing costs andproduce stronger products. The operation will be the only of its kindin the United States. Aside from the installation of the lumps plant,the site will include host buildings, offices, and bagging facilities.The Company will concurrently be readying its rail system to enable itto transport product anywhere in North America.
Karl Marek, the Company’s chairman, is an experienced constructionproject manager, and will be travelling to site to supervise theinitial construction work. Heavy machinery for clearing the site isarriving during the week beginning the 24 th May 2021, following which,concreting, and utility upgrades will follow. Alongside the Delta siteconstruction, design and permitting for the company’s Lynndyl sitewill commence, which will host the Company’s flotation facility,designed to produce the higher-grade product, acidspar.
Alongside the commencing of construction work, Ares has enhanced itsgeological team to undertake detailed mapping and sampling of theentire Spor Mountain range. The work will refine target definitions inadvance of drilling efforts designed to delineate additional mineralresources. This work will set the roadmap for mine exploration andmine developments over the coming years. A space for core logging,sample processing, and storage will be allocated, which will laterincorporate assaying facilities. The Company has also received permitsand permission from the Utah Department of Natural Resources to startdrilling work on the Bell Hill area, the Company’s anticipatedsecondary future mine site and high-priority target. Bell Hill is hostof the recently identified large geophysical anomalies (Seecompany’s Press Release May 10 th , 2021), which indicate they can correlate at depth withfluorspar breccia pipes already observed at surface.
In 2018 the U.S. government classified fluorspar as a CriticalMineral, “deemed critical to U.S. national security and theeconomy”. Fluorspar remains the only non-metallic Critical Mineralwhich 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.
James Walker, President and CEO of the Company said,“The Company and its team are moving ahead on all fronts to get ourprocessing facilities installed, and get our expanded operationunderway, while further developing our futuremining prospects across the entire Spor Mountain range. We haveassembled a very experienced and competent team of engineers,geologists, administrators, and consultants, to help drive the projectforward and return a lost industry to the United States. We have seenhuge recent increases in domestic demand for fluorspar, combined witha bull market for commodities, positioning our product and businesswith very promising prospects for the future.”
Raul Sanabria, P.Geo., is a qualified person as definedby NI 43-101 and has reviewed and approved the technical contents ofthis news release. Mr. Sanabria is not independent to theCompany as he is a Director and shareholder.
Disclosure: Companies typically rely on comprehensive feasibilityreports on mineral reserve estimates to reduce the risks anduncertainties associated with a production decision. Some industrialmineral ventures are relatively simple operations with low levels ofinvestment and risk, where the operating entity has determined that aformal prefeasibility or feasibility study in conformance with NI43-101 and 43-101 CP is not required for a production decision. TheCompany has not completed a feasibility study on, nor has the Companycompleted a mineral reserve or resource estimate at the Lost SheepMine and as such the financial and technical viability of the projectis at higher risk than if this work had been completed. Based onhistorical engineering work, geological reports, historical productiondata and current engineering work completed or in the process by Ares,the Company intends to move forward with the development of thisasset. The Company further cautions that it is not basing anyproduction decision on a feasibility study of mineral reservesdemonstrating economic and technical viability, and therefore there isa much greater risk of failure associated with its productiondecision. In addition, readers are cautioned that inferred mineralresources are considered too speculative geologically to have economicconsiderations applied to them that would enable them to becategorized as mineral reserves. The development of a mining operationtypically involves large capital expenditures and a high degree ofrisk and uncertainty. To reduce this risk and uncertainty, the issuertypically makes its production decision based on a comprehensivefeasibility study of established mineral reserves. The Company hasdecided to proceed without established mineral reserves, basingdecision on past production and internal projections.
Lost Sheep Fluorspar Project – Delta, Utah
-
- 100% owned – 2,100 acres – 108 Claims
- Located in the Spor Mountain area, Juab County, Utah, approximately214 km south-west of Salt Lake City.
- Fully Permitted – including mining permits.
- NI 43-101 Technical Report identified extensive high-grade fluorsparwith low levels of impurities.
- Mining plan approved by BLM 1
First approved by Rex Rowley – Area Manager, Bureauof Land Management – 24th August 1992.
Renewed by Paul B. Baker – Minerals ProgramManager, 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 Mark Bolin byphone at 604-781-0535 or by email at mbolin@aresmining.com
Neither the TSX Venture Exchange norits Regulation Service Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. No stock exchange, securitiescommission or other regulatory authority has approved or disapprovedthe information contained herein.
Copyright (c) 2021 TheNewswire - All rights reserved.