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Lost Sheep
Mine
Our Flagship Project
The Lost Sheep Mine is ARES Strategic Mining's flagship project. It's located in the Spor Mountain mining district of Western Utah. ARES holds 100% interest in the mine, which is fully permitted and operational.
Learn more about:
The Spor Mountain Mining District
Our Deposit Style & Structure
Tour the Mine
Our team is on-site and mining the main orebody now. The mine has high-grade fluorspar stockpiled at the surface, ready to be trucked to our nearby Lumps Plant in Delta, for processing. Take a closer look at the Lost Sheep Mine, including the mine portal, underground layout, and learn more about the processes we use to safely advance the mine.
The Spor Mountain
Mining District
The Lost Sheep Mine is just one of 302 claims that ARES owns across the Spor Mountain range, in Western Utah. This district has a rich fluorspar mining history dating back to the 1940s, when the U.S. was still producing its own fluorspar for domestic industry. The earliest known photos of the Lost Sheep Mine were taken in the 1950s!
This region hosts volcanic-epithermal fluorspar deposits, classified as sub-alkaline epithermal types, known for their high purity and accessibility. Learn more about the geological settings here.
ARES owns 5,765 acres in the Spor Mountain region, and plans to expand beyond its flagship Lost Sheep Mine project into its other claims.
The Lost Sheep Mine - photos taken in April 1953 by the U.S. Geological Survey.
Our Deposit Style
& Structure
The Purple Pit (historic open pit) and LGP are linked, forming a larger continuous mineralized system rather than isolated deposits. Drilling confirms connections between them, with high-grade zones extending from surface to depth.
The naturally occurring fluorite (CaF₂) at the Lost Sheep Mine is among the purest available. Technical studies confirm natural grades averaging approximately 75% CaF₂ - significantly higher than the 5% to 30% grades commonly mined at many operations worldwide.
There are two principal commercial grades of fluorspar: metallurgical grade (60-96% CaF₂) and acid grade (+97% CaF₂). ARES is currently set up its operations to produce both grades of fluorspar.
The underlying geology features a series of dolomite formations, including the Bell Hill, Harrisite, and Lost Sheep Dolomites. These strike at approximately 040-045° and dip 37-42° northwest, intruded by breccias and intersected by faults that control the distribution of fluorspar mineralization. Mineralization is hosted in volcanic breccias, limestone, dolostone, and related alteration zones.
This structural framework has enabled the formation of extensive, high-grade fluorspar pipes and zones with minimal impurities, making our deposits ideal for commercial extraction.
Our Mining Approach
A non-traditional deposit
The underlying geology and structural framework informs our mining approach. The hundreds of disconnected, high-grade fluorspar pipes makes our deposits ideal for commercial extraction, but they do not conform to a traditional resource approach that interpolates into a single global resource.
Instead, ongoing drilling and geological work are used to define individual mining targets as production advances.
NI 43-101 guidelines allow qualified issuers to advance to production using internal assessments, historical production data, engineering studies and knowledge from past operations where appropriate.
With naturally high-grade fluorspar, minimal processing requirements and a fully permitted operation, the Lost Sheep Project benefits from this flexible development approach while remaining supported by its Technical Report.
NI 43-101 Technical Report
The Lost Sheep Project is supported by an up-to-date NI 43-101 Technical Report detailing its geology, exploration history and project viability.
Recent geophysical surveys have revealed large anomalies indicating potential additional fluorspar-mineralized zones, further expanding our fluorspar targets and deposit inventories.
Expanding our Targets
With fully permitted operations and a track record of successful delineation drilling, connecting primary targets and extending mineralization depths by 50-60 metres, we are well positioned for scalable production.
As additional fluorspar pipes are defined and developed across our 302 Spor Mountain claims, we are able to expand our mine plan to meet market needs.
Our Drilling & Discoveries
Our geological work continues to demonstrate the quality and continuity of the Lost Sheep deposit. As exploration continues across the property, we continue to build our understanding of the broader mineralized system.
Surface topography shows the historic Purple Pit depression, with mining infrastructure (roads, equipment) nearby.
Mineralization remains open at depth below ~60 m in the Purple Pit area (e.g., from ~1,580 m RL downward).
Vertical extent shown in cross-sections: high-grade pods extend 30-60 m+ below historic pit bottoms, with one profile indicating openness downward.
Lateral continuity: Drill fences fan out from the Purple Pit, tracing mineralization over tens to hundreds of meters, suggesting expansion potential along strike.
3D visualizations: 3D rendering depict the mineralized body as irregular, pod-shaped masses (purple/magenta) embedded in surrounding rock.
Drill traces pierce through these bodies, confirming geometry.
Depth and open extensions
Grade Distribution
High-grade fluorspar (CaF₂ >60-80%, often 80-100%) dominates in purple-shaded zones, shown as continuous pods or lenses.
Specific intercepts and intervals include:
51.42% CaF₂ over 25.9 m
63.27% CaF₂ over 6.1 m
45.46% CaF₂ over 12.2 m
Zones with 80%+ purity noted in un-mined extensions.
Medium-grade (20-50% CaF₂) and disseminated/low-grade (<15-20% CaF₂) surround the cores, providing blending potential.
Color-coded drill hole sections show consistent high-grade hits (red/orange/yellow for 40-100% CaF₂) along multiple sections with breccia (fluorite-rich) marked in purple.
Stockpiling Fluorspar
Currently, the mining team have reached the face of 2 large orebodies. The orebodies are suitable for both metallurgical-grade and acid-grade production.
High-grade, near-surface fluorspar has been exposed and there is currently c.12,000 tons of stockpiled fluorspar at the surface, ready for processing.
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Gallium & Germanium
In addition to fluorspar, significant concentrations of the critical minerals gallium and germanium have been identified as potential recoverable by-products.
Gallium and germanium are critical components in advanced technologies, including semiconductors, telecommunications, defense systems, fiber optics and solar applications.
Through a collaborative research program with Iowa State University and Ames National Laboratory, we are advancing research into the extraction of gallium from fluorspar deposits.
Request an Investor Pack
Whether you are an individual investor, representing a family office, or from a larger institution, you can invest in ARES Strategic Mining today.
Please fill out our form, and a member of our Investor Relations team will be in contact.