ARSMF - Ares Strategic Mining Inc. Announces the Completion of its Mine Planning and the Commencement of Mine Installation Construction
(TheNewswire)
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To date Ares’ ongoing core drill program hascompleted 909.79 meters of diamond drilling over 9 holes; locatingadditional zones of visually confirmed fluorspar mineralizationconnected to known mineralization at the permitted mine site.
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Based on the prior and current drill results, a rampportal location was identified to best access the mineralized zones atdepth.
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Heavy equipment and work teams are currently on sitebuilding up the installations to provide the feed for the plantscurrently under construction at Ares’ processing site.
Vancouver, B.C. -- TheNewswire-- March 25 th , 2024 — AresStrategic Mining Inc. (“Ares” or the “Company”) (CNSX: ARS)(OTC: ARSMF) (FRA: N8I1), is pleased to announce the completion themine planning phase and commencement of its mine construction. TheCompany has started ramp installation work to intersect fluorsparmineralization and provide feed for the plant currently underconstruction in Delta, Utah. (For video of the first ramp installationconstruction please follow the link:
The ongoing diamond drilling program has assistedtechnical staff to define the extents of fluorspar mineralization andhas aided in delineating the placement and design of ramps tofacilitate mining operations scheduled for later in 2024. As drillingproceeded, drill holes reached depths not previously investigated andintersected previously unidentified fluorspar mineralization whichconnect to our initial mining targets. These visually identified zonesof fluorspar mineralization have the potential to expand plannedmining extraction. Assay results are pending and will be reported whenreceived by the Company.
Figure. 1 - Ramp installation beginsat Ares’ Fluorspar Mine
Fig 2. – Diagram shows the proposedmine design and ramp installation as it intersects with severalfluorspar pipes at various depths.
NOTE: Oblique-view, looking NW anddown at -49 degrees. The purple domain shapes were built prior to2024, the blue shape demonstrates previous mining.
Fig 3. – Oblique-view from underSpor Mtn, looking East and slightly down at -4 degrees. Of note arethe two new mineralized shapes, colored blue and green which representnew fluorspar pipes intersected in the recent drill program. The 2024drilling has expanded and connected previous mineralized domains.
Fig 4. – Diamond drillingintersected previously unknown visual fluorspar mineralization in holeLS-24-09 at 84.73 meters (278 feet) depth.
Fig 5. – Heavy equipment rolls onto site to begin ramp development
Table 1. – Summary of diamond drillholes completed in 2024
*Visual Log of CaF 2 represents downhole core length measurements and are notreported as true widths. True thickness of Fluorspar mineralizationwill be assessed upon receipt of assay results.
James Walker, President and CEO of the Company said,“Seeing the project get closer to production is extremelyencouraging and motivating. The visually confirmed fluorsparmineralization from the current drill program was an unexpected bonusand provided us with still further confidence in our upcomingoperation. The ramp currently under construction is the biggestdevelopment towards the largest fluorspar operation ever seen at theSpor Mountain Range, which has almost 100 years of mining history. TheCompany and its staff are excited at the tangible near-term andlong-term prospects and are looking forward to commencing operationsand being the only domestic supplier of metspar and acidspar in theUnited States.”
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’s classification as a Critical Mineral in the UnitedStates translates to a faster permitting period, enabling miningoperations to initiate more quickly than operations for conventionalminerals.
Paul Sarjeant, P.Geo., is a qualified person as definedby NI 43-101 and has reviewed and approved the technical contents ofthis news release. Mr. Sarjeant is not independent to the Company ashe is a Director and shareholder.
Lost Sheep Fluorspar Project – Delta, Utah
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100% owned – 5,982 acres – 299 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.
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, 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 similar expressions. Allstatements other than statements of historical fact included in thisnews release are forward-looking statements that involve risks anduncertainties. There can be no assurance that such statements willprove to be accurate and actual results and future events could differmaterially from those anticipated in such statements. Importantfactors that could cause actual results to differ materially from theCompany’s expectations include the failure to satisfy the conditionsof the relevant securities exchange(s) and other risks detailed fromtime to time in the filings made by the Company with securitiesregulations. The reader is cautioned that assumptions used in thepreparation of any forward-looking information may prove to beincorrect. Events or circumstances may cause actual results to differmaterially from those predicted, as a result of numerous known andunknown risks, uncertainties, and other factors, many of which arebeyond the control of the Company. The reader is cautioned not toplace undue reliance on any forward-looking information. Suchinformation, although considered reasonable by management at the timeof preparation, may prove to be incorrect and actual results maydiffer materially from those anticipated. Forward-looking statementscontained in this news release are expressly qualified by thiscautionary statement. The forward-looking statements contained in thisnews release are made as of the date of this news release and theCompany disclaims any intention or obligation to update or revise suchinformation, except as required by applicable law.
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