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Signs Agreement to Develop the
Historic Resource of over 600,000 tons of high-quality fluorspar mineralisation.
Historic resource contained within one single contiguous fluorspar vein.
Historic adit design acquired with project purchase.
The Company has been examining fluorspar prospects throughout
A historic mineral resource estimate* performed by Boyce Moodie III in 1974 for
Click Image To View Full Size
Figure 1 – Historic proposed development over one of the sections part of the historic fluorspar resource estimate. From
Following the Company’s production launch in
The Company has inherited a wealth of information on the Campbell-Croster project, including engineering strategies for excavation and mining, see Figure 2. The Company intends to build on all the historic work undertaken previously, to accelerate the development of its secondary US project.
Figure 2 – Historic Engineering Development Plans on the Campbell-Croster project.
As part of the Company’s acquisition, Ares has acquired the prospects and project for an initial payment of
*The key assumptions, parameters, and methods used to prepare this historical resource estimate are not available. The company has not reviewed or validated the historic data and caution should be taken as a qualified person has not done sufficient work to classify these historical resource estimates as a current mineral resource and Ares is not treating them as a current mineral resources.
••100% owned – 5,982 acres – 353 Claims
••Located in the
Spor Mountain area,Juab County, Utah , approximately 214 km south-west ofSalt 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
Renewed by
ON BEHALF OF THE BOARD OF DIRECTORS OF
Chief Executive Officer and President
For further information, please contact
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
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 beaccurate 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.
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