ARSMF - Ares Strategic Mining Completes Detailed Acidspar Processing Plant Site Designs
(TheNewswire)
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- Industrial site processing operation design completed.
- Forty employees anticipated for large fluorspar processing facility.
- Preliminary Design Criteria specifications completed.
- CapEx, OpEx, and Equipment List for processing operation completed.
- Clean manufacturing process requiring no toxic or deleteriouschemicals.
Vancouver, B.C. - TheNewswire - February 18 th , 2021 — Ares Strategic Mining Inc.(“Ares” or the “Company”) (TSXV:ARS) (OTC:ARSMF)(FRA:N8I1) , is pleased to announce, that the Company hascompleted the industrial site design work ahead its planned fluorsparprocessing operation later this year.
The Ares fluorspar processing facility is anticipated to producepredominantly acidspar but will have the capability to producehigh-grade metspar when required. The processing facility willaccompany the Ares fluorspar metallurgical lump plant, which isanticipated to begin production earlier in the year. Successfulmetallurgical work by the Company has given operational confidencethat an accelerated refinement to acidspar is possible, using fewercleaning stages, and which are expected to reduce operational costsand processing times. The plant will not use any toxic or deleteriouschemicals in its manufacturing processes and will produce no harmfulwaste products at all.
Figure 1 demonstrates the pictorial view of the industrial plantlayout, for the anticipated acidspar production facility. Figure 2demonstrates the plan view of the acidspar processing facility. Thefinal product of the processing plant will be suitable for aluminummanufacture, refrigeration units, hydrofluoric acid, fluorine,lithium-ion battery cathodes, Teflon, polymers, air-conditioningunits, uranium enrichment, and water fluoridation.
Figure 1 – Industrial Site Processing Operation
Figure 2 - Processing Facility Plan View
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 stated: “The Company is makingexcellent progress towards its manufacturing goals. We have completedthe detailed design work, and become expert at processing our raw feedinto the highest grade fluorspar product required by industry,containing no deleterious components. The process is clean, and wehave become extremely efficient as our metallurgical work hasadvanced. We are very excited to begin this production operation, andbecome the only vertically integrated acidspar produced in the UnitedStates.”
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
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- 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.
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