Wednesday 30th September 2020

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Ares Strategic Mining launches this summer’s second drill program at its Utah fluorspar project

by Greg Klein | September 9, 2020

With Phase I drilling completed in June and assays released just last week, Phase II has already begun at a former mine that this company plans to put back into production. Ares Strategic Mining TSXV:ARS now has an RC rig testing new targets on a program of 10 to 15 holes totalling up to 1,500 metres at its Lost Sheep fluorspar project in Utah.

Ares Strategic Mining launches this summer’s second drill program at its Utah fluorspar project

An example of fluorite-bearing volcanic
breccia found at surface on Lost Sheep.

The company has near-term plans to resume Lost Sheep production without de-risking through successive PEA and feasibility studies. The Mujim Group bought a 9% stake in Ares earlier this year after the multinational fluorspar mining and distribution company visited Lost Sheep. Should all go to plan, the mine would be America’s sole producer of fluorspar, ranked on both the U.S. list of 35 critical minerals and the EU list of 30 critical raw materials.

The current work follows delineation results released August 31 from 12 RC holes totalling 900 metres that brought high grades over wide intervals.

Two or three new holes totalling 200 to 300 metres will test for possible continuity between the recently drilled LGP pipe and the property’s former Purple Pit underground operation. Former miners at the latter area have told the company mineralization continues towards LGP.

At least five more holes totalling 500 to 700 metres will target nearby breccia pipes that show exposed fluorspar at surface. Success in this area would lead to additional holes to delineate near-surface mineralization.

“Ares is currently considering expanding the proposed production capacity and processing facilities at its mine,” said president/CEO James Walker. “The company anticipates secondary and tertiary mining operations at other sites in the future. By moving our drill program forward, we hope to enable faster expansion of our production capabilities once mining operations have commenced.”

The plan calls for supply of both metspar and the higher-priced acidspar. Metallurgical studies have upgraded Lost Sheep material into 97% CaF2 acidspar. 

Ares’ portfolio also includes northern British Columbia’s Liard fluorspar project, which hosts historic, non-43-101 estimates for seven areas of the highway-accessible property.

Read more about Ares Strategic Mining.

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