Lost Sheep Mine
The Lost Sheep Mine is a fluorspar mine, owned by ARES Strategic Mining Inc. Its surrounding claims are located in the Spor Mountain area, Juab County, Utah, approximately 214 km south-west of Salt Lake City.
The project consists of 353 claims spanning a 5,982-acre area. The fluorspar found at the Lost Sheep mine naturally occurs at grades high enough to be accepted by the industry, even without processing.
ARES has begun investing in the upgrade of the Lost Sheep Mine facilities, with expanded mine designs, including a new high capacity plant to significantly increase the production of the mine. ARES has also recently completed a rail spur project to aid delivery of our product from the Lost Sheep Mine across North America.
There is large domestic fluorspar market and ARES is well placed to become an integral part of North America's supply chain.
ARES Strategic Mining Inc. is primarily focused on the Lost Sheep Mine in Utah, but also has additional properties that it continues to explore and develop.
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.