ARSMF - Ares Strategic Mining Completes Extensive Mapping Work on Planned Mining Areas
(TheNewswire)
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- Mapping work locates additional fluorspar pipeswithin permitted mining areas.
- Delineation drilling for mine design and constructionupdated to include discoveries.
- Further mapping work ongoing on areas of interestacross entire Spor Mountain range
Vancouver, B.C. - TheNewswire- November 9 th , 2021 — AresStrategic Mining Inc. (the “Company”) (CSE:ARS) (CNSX:ARS.CN) (OTC:ARSMF) (FRA:N8I1),is pleased to announce that it has completed detailed geologicalmapping work across its permitted mining areas. Following the successof the exercise the mapping work was extended to further promisinglocations across the Spor Mountain.
Bell Hill Mapping
Bell Hill - Results of 2021 GeologicMapping
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- Ares’ new compiled geologic map gives improvedgeologic understanding.
- 17 new fluorspar occurrences identified within area.
Earlier geophysical work assists inthe location and discovery of additional fluorspar showings.
Lost Sheep Mapping
Lost Sheep - Results of 2021 GeologicMapping
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- Seven fluorspar and potential breccia targetoccurrences in 2020 .
- 5 new fluorspar occurrences identified in 2021.
- Large fluorspar pipes in dolomite adjacent tointrusive breccias
James Walker, President and CEO of the Company said,“While completing the recent NI 43-101 report, the Company took theopportunity to conduct a thorough mapping exercise over the SporMountain district. The exercise was incredibly useful, and has helpedthe Company improve the delineation drilling programs required for themine designs, which will then inform the mine construction. Followingthe success of the exercise the company is following up with mappingacross its other areas of interest, with the intention of designingfuture drilling programs to develop the areas of interest outside ofthe Lost Sheep and Bell Hill areas. The work has provided increasedconfidence in the upcoming plans, which we hope to be executingshortly.”.
Lost Sheep Fluorspar Project – Delta, Utah
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- 100% owned – 3,899 acres – 364 Claims
- Located in the Spor Mountainarea, Juab County, Utah, approximately 214 km south-west of Salt LakeCity.
- 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.
Renewed by Paul B. Baker – Minerals ProgramManager, Bureau of Land Management – 12th December 2016.
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 the Company ashe is a Director and shareholder.
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 604-345-1576 or by email 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, geologicalreports, historical production data and current engineering workcompleted or in the process by Ares, the Company intends to moveforward with the development 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.
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