Ares Strategic Mining Completes Purchase of 48-Acre Industrial Property
Property is already industrially zonedAres Strategic Mining Inc. (the "Company") (CSE:ARS) (OTC:ARSMF) (FRA:N8I1), is pleased to announce that it has fully completed the purchased, and received title, of a 48-acre, industrially zoned manufacturing site for its upcoming fluorspar processing operation (the "Property"). The Property is located in Delta, Utah, the closest city to the Company's Spor Mountain fluorspar project ("Spor Mountain").
The Property is already fitted with utilities, and possesses its own water wells, reducing reliance on local water networks. The facilities will be able to locate both Ares' lumps and flotation plants and house a large tailings facility for the coming production. The Property is connected to Ares' Lost Sheep project via large, paved highways, requiring no infrastructure upgrades outside of the facility so the Company can receive material.
The Company has already delivered its lumps plants and the associated structural steel to its new industrial site and has located a firm able to perform the plant assembly. With the newly acquired land, the Company will now be able to construct a tailings dam, allowing also for storage of waste aggregate well suited for selling to local businesses and construction projects.
New Ares Workshop
James Walker, President and CEO of the Company said, "Purchasing the processing site is a major advance towards our production goals. Locating the most suitable site required balancing the site's size, location, facilities, accessibility, suitability, and cost - the Company believes it has located the best and most balanced industrial facility and land available. The new acquisition means no second site is needed for the second processing facility, and staff can be more efficiently managed between operations. Ares will have a good workforce to draw from, accessible water, good access for trucks, and will be located near its newly installed rail sur for shipment of its products throughout the U.S."
In 2018 the U.S. government classified fluorspar as a Critical Mineral, "deemed critical to U.S. national security and the economy". 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 United States translates to a faster permitting period, enabling mining operations to initiate more quickly than operations for conventional minerals.
New Facility and Warehouse Installation
Lost Sheep Fluorspar Project - Delta, Utah
-
100% owned - 5,982 acres - 353 Claims
-
Located in the Spor Mountain area, Juab County, Utah, approximately 214 km south-west of Salt Lake City.
-
Fully Permitted - including mining permits.
-
NI 43-101 Technical Report identified extensive high-grade fluorspar with low levels of impurities.
-
Mining plan approved by BLM1
First approved by Rex Rowley - Area Manager, Bureau of Land Management - 24th August 1992.
Renewed by Mike Gates - Minerals Program Manager, Bureau of Land Management - 12th December 2016.
ON BEHALF OF THE BOARD OF DIRECTORS OF
James Walker
Chief Executive Officer and President
For further information, please contact James Walker by email at jwalker@aresmining.com
DISCLOSURE AND FORWARD-LOOKING STATEMENTS:
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.
Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.
1
