Ares Strategic Mining Completes Flotation Plant Infrastructure and Steel and Fabrication
Vancouver, B.C. September 26, 2024 — Ares Strategic Mining Inc. (the “Company”) (CSE: ARS) (OTC: ARSMF) (FRA: N8I1) is pleased to announce..
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Lost Sheep Mine
UTAH, U.S.
353
Claims
5,982
Acres
100%
Owned
Fully
Permitted
SUMMARY
Lost Sheep Mine: Key Information
The Lost Sheep Mine is a fluorspar mine in Utah, which contains extensive high-grade fluorspar with low levels of impurities. The mine and its associated facilities are currently under construction and the team is inching closer to production of metallurgical and acid-grade fluorspar, day by day.
Originally purchased by ARES Strategic Mining Inc. in 2020, the Lost Sheep Mine is now fully permitted and financially backed by both the state of Utah and the US Federal government.
The mine is geographically split across 2 areas: (1) the mine on Spor Mountain in Juab County, Utah and (2) the processing facilities located in Delta, the nearest town.
CURRENT WORK UNDERWAY
Latest Developments
Within the portal tunnel, new supporting steel infrastructure and overhead ventilation systems have been installed. Layers of metal slats now overlay the rock bolts and shotcrete, resulting in an exceptionally secure and robust tunnel system. With the initial mine infrastructure largely completed, the focus now turns to the installation of the processing equipment at the facility and digging at the mine site.
KEY INFORMATION
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ARES is months away from being a manufacturing company
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Mine ramp and tunnel system are now complete
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Construction of Lumps Plant months away from completion
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Flotation Plant fully paid for and steel fabrication for facility underway
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MOU concluded with Cremer Erzkontor North America, who will act as Sales Agent for all Metspar from the Lost Sheep Mine
TOUR THE LOST SHEEP MINE
Take a virtual walk through the mine's portal with our
professional mining team.
HISTORY
The Heritage of Our Mine
The ARES team first identified the mine's potential in 2019, when they came across local artisanal miners who were shovelling fluorspar in its natural state, straight into bags and selling it on to industry - such is the high-grade of fluorspar, here at Spor Mountain.
After staking the entire district, in 2022 ARES Strategic Mining Inc. acquired 100% ownership of the area and proceeded to take the company public, listing as a Junior Miner on the TSXV.
With the backing of funding from the US Federal government and the State of Utah, ARES went on to purchase a 50-acre site in the local town of Delta. Our 2 plants are currently under construction on this site, and they will soon process fluorspar from the Lost Sheep Mine into 2 product lines - metallurgical and acid-grade fluorspar.
FREQUENTLY ASKED
What is Fluorspar?
Fluorspar is the commercial name for the naturally occurring mineral fluorite, composed of calcium and fluorine. Fluorspar is the predominant commercial source for the chemical element fluorine - a non-metallic element and the lightest of the halogens, therefore largely irreplaceable in its use. It has a huge list of applications, including steel production, refrigeration, cement, glass, and lithium-ion battery production. 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.
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Disclaimer:
Companies typically rely on comprehensive feasibility reports on mineral reserve estimates to reduce the risks and uncertainties associated with a production decision. Historically, situations where the issuer decides to put a mineral project into production without first establishing mineral reserves supported by a technical report and completing a feasibility study have a higher risk of economic or technical failure, though some industrial mineral ventures are relatively simple operations with low levels of investment and risk, where the operating entity has determined that a formal prefeasibility or feasibility study in conformance with NI 43-101 and 43-101 CP is not required for a production decision. Based on historical engineering work, geological reports, historical production data and current engineering work completed or in the process by Ares, the Company intends to move forward with the development of its Utah asset.
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