Ares Strategic Mining Announces Proposed Private Placement Offering under the Listed Issuer Financing Exemption
Vancouver, B.C. August 22 nd , 2024 — Ares Strategic Mining Inc. (CNSX: ARS) ( “Ares” or the “Company” ) is pleased to announce a...
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ARES Strategic Mining Inc. is a publicly traded company: CSE: ARS | OTC: ARSMF | FRA: N8I
Manufacturing
2 Processing
Plants
Fully Owned Equipment
50,000+ tonnes
per year capacity
Rail &
Road Links
PLANT
Key Information
ARES’ 50-acre industrial site in Delta, Utah, will host two processing plants: a metallurgical lumps plant and a flotation plant.
The metallurgical lumps plant will produce industry-ready fluorspar "lumps" or briquettes for use in steel manufacturing and other industries. The plant has been assembled on site and is awaiting installation into its steel structure.
The flotation plant will produce acidspar, a high-purity fluorspar product of 97%+ CaF2. The flotation process uses water and reagents to separate fluorspar from gangue minerals, creating a froth layer that can be collected, leaving the unwanted gangue behind. This results in a higher-grade product with improved recoveries.
With all payments finalized for the fabrication and assembly of the plants, and the foundations established, the installation process of the lumps plant has now commenced.
MACHINERY
Our Machinery
ARES has acquired the necessary mining equipment, including a full range of heavy machinery such as loaders, dozers, and excavators. Upon competition of the initial stage mine preparation, the equipment is ready to start digging out fluorspar.
The completed rail spur project will enable transportation of fluorspar product across North America.
PROCESSING
Where the Magic Happens
The facility will reach full capacity once both plants are operational, enabling simultaneous production of two distinct product lines catering to a large cross-section of industries. The flotation plant will produce a higher-grade product with improved recoveries, boosting ARES’ annual capacity to approximately 50,000 tons.
This increase comes at a time when global fluorspar production, currently 5.7- 6.0 million tons per year, is facing rising demand driven by its diverse applications across industries such as steel and chemicals.
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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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