ARSMF - Ares Strategic Mining Completes Lumps Plant Steel and Infrastructure Fabrication
(TheNewswire)
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Company has begun arranging shipping for plant steeland equipment.
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Steel structures will install alongside Ares’ alreadyshipped lumps plant.
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Ares’ partners will accompany the steel and equipmentto site to assist with installation.
Vancouver, B.C. - TheNewswire- January 19 th , 2022 — AresStrategic Mining Inc. (the “Company”) (CSE:ARS) (CNSX:ARS.CN) (OTC:ARSMF) (FRA:N8I1), is pleased to announce that the fabrication ofits recently ordered steel has been completed and the Company hastaken possession. The Company has now begun arranging to ship thesteel to the United States, where it will be integrated with itsrecently shipped lumps plant in the Company’s productionconstruction project.
The steel structure will provide a 3-storey structure,which will house the Company’s plant, allowing workers to optimallyadjust the plant as it manufactures metallurgical fluorspar lumps. Theplant will be the only one of its kind in the United States, so Areshas arranged for experienced international operators to accompany theplant to Utah, where they will assist with the construction andoptimization of the plant.
Metallurgical fluorspar lumps are an extremely indemand upgraded industrial product used in the steel industry, andwhich the Company is looking to supply internally within North Americaas part of its role as the only domestic U.S. producer. In 2018 theU.S. government classified fluorspar as a Critical Mineral, “deemedcritical to U.S. national security and the economy”. Fluorsparremains the only non-metallic Critical Mineral which is 100% importedin the entire country. Fluorspar’s classification as a CriticalMineral in the United States translates to a faster permitting period,enabling mining operations to initiate more quickly than operationsfor conventional minerals.
Figure 1 – Plant Steel Structure and all AssemblyPieces.
James Walker, President and CEO of the Company said,“The Company was faced with a steeply increasing steel price, andbacklogged orders, but navigated the problems quickly to source areputed supplier with a proven track record that could supply Areswith steel products within a reasonable cost and timeline. Ourmetallurgical tests have demonstrated a high-quality product which hasgarnered interest amongst manufacturers, and we have elicited theassistance of experienced groups to assist us in the installation ofour facility. This was an important step towards becoming part of theUnited States’ industrial base, and we will keep everyone abreast ofdevelopments as we continue to advance in that direction.”
Lost Sheep Fluorspar Project – Delta, Utah
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100% owned – 5,982 acres – 353 Claims
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Located in the Spor Mountain area, Juab County, Utah,approximately 214 km south-west of Salt Lake City.
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Fully Permitted – including mining permits.
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NI 43-101 Technical Report identified extensivehigh-grade fluorspar with low levels of impurities.
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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 work completed or in the processby Ares, the Company intends to move forward with the development ofits 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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