$2Mof infrastructure and buildings, saving Aresconstruction costs and time
Property contains its own water wells to supply the
Direct access to highway, power, water, and gas
Property is several miles from
DeltaCity, requiring no mining camp for employees
The new property is already fitted with utilities, and possesses its own water well, 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 decade. The property is connected directly to its mine and claims through highways and heavy industrial roads, requiring no infrastructure upgrades outside of the facility to receive material.
The Company will now deliver to its new site all its purchased plant and equipment, and begin the installation of its processing facilities. The Company will no longer have to return tailings to site, either storing them within the anticipated tailings dam, or selling the waste aggregate to local businesses and construction projects.
In 2018 the
100% owned – 5,982 acres – 353 Claims
Located in the
Spor Mountainarea, 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
ON BEHALF OF THE BOARD OF DIRECTORS OF
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
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.
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