Tuesday 27th October 2020

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Ares Strategic Mining discovers new fluorspar mineralization on Utah project

by Greg Klein | October 5, 2020

A former mine that’s planned for near-term critical mineral production has revealed an additional zone. The new mineralization appears to connect a recently drilled area with a past-producing zone, suggesting one large fluorspar-bearing breccia, Ares Strategic Mining TSXV:ARS announced.

Ares Strategic Mining discovers new fluorspar mineralization on Utah project

Representative fluorspar mineralization found
between two of the Lost Sheep project’s former
mining pits, Little Giant and Purple.

RC drilling so far has identified a fluorspar zone over 35 metres long and 15 metres wide, with depths extending as far as 70 metres and remaining open to the north and south, and at depth, the company added. The news follows high-grade assays from 12 previous RC holes released in late August. Ares hopes to put Lost Sheep back into production without de-risking through advanced technical reports, making the Utah project America’s sole domestic producer of this critical mineral.

The five most recent holes, totalling 420 metres, all intersected mineralization. The agenda now calls for at least four additional holes totalling about 400 metres to delineate this zone. Also planned are at least five holes totalling 500 to 700 metres on other targets at a distance of 250 metres and 350 metres northeast.

All of the completed and planned drilling takes place within the company’s permitted mining area.

Should all go to plan, Ares’ Lost Sheep mine would be America’s sole producer of this mineral considered critical by both the U.S. and the EU. Last week U.S. President Donald Trump declared a national emergency to secure domestic sources and supply chains of critical minerals.

Metallurgical tests, meanwhile, have shown Lost Sheep material amenable for upgrading to the higher-priced acidspar grade of 97% CaF2.

“The high-grade results from the last drill program gave us great insight into the geology and layout of the sub-surface fluorspar mineralization, and directed the company towards locations where high-grade fluorspar was likely located,” noted president/CEO James Walker. “The first drill holes have confirmed that Ares’ geological assessments were correct, and credit VP of exploration Raul Sanabria with successful analysis of the available technical information.”

In northern British Columbia, Ares also holds the highway-accessible Liard fluorspar project, with historic, non-43-101 estimates for seven areas of the property.

Read more about Ares Strategic Mining.

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