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Ares Strategic Mining Announces the Successful Upgrade of its Fluorspar to the Highest Grades Required by Industry
(via TheNewswire) - Acidspar is sold at a premium in the fluorspar ...
About this update from Ares Strategic Mining Inc
[{"type":"text","content":"Ares Strategic Mining Announces the Successful Upgrade of its Fluorspar to the Highest Grades Required by Industry(via TheNewswire)\n \n \n\n\n- Acidspar is sold at a premium in the fluorspar market. \n\n\n\n- Acidspar composes two-thirds of the US Fluorspar market because of its wide applicability. \n\n\n\n- Acidspar is anticipated to have much greater profit margins for the Company.\n\n\n\n- Makes possible greater bulk mining operations. \n\n\n\n \n \nVancouver, B.C. - TheNewswire - June 17th, 2020 -- Ares Strategic Mining Ltd. (TSXV:ARS) (\"Ares\" or the \"Company\"), is pleased to announce, that following its metallurgical work, the Company has successfully upgraded its naturally occurring fluorspar ore to the highest grade required by industry, opening up a much larger market for the Company, and much greater possible profit margin because of the higher selling price. \n\n \n \nThe Company employed the services of SGS in Burnaby, British Columbia, to assist with defining the process to upgrade its current fluorspar ore - being mined and sold as metspar at its Lost Sheep mine - to meet the highest grade required by Industry. The test work was project managed by Denise Nunes, whom the Company employees to manage its process engineering requirements and processing equipment design. The Company used pre-selected low-grade fluorspar ore (mixed with clays, limestone, and other dilutive rocks from the breccia pipes) to produce a high-graded product (acidspar). This procedure was undertaken to prove acidpsar could be achieved even with low quality feed at the mine. Achieving acdispar with low-grade fluorspar allows for future bulk mining, removing the quantity restrictions inherent within targeted selective mining. The Company was able to upgrade its ore from <40% fluorspar purity, to over 97% fluorspar purity (the grade at which acidspar is defined in industry). The Company is now in possession of the process and method to produce acidspar, and can begin equipment selection and optimization to produce this high grade product at its Lost Sheep mine.\n\n \n \nThe Company has also successfully completed its non-brokered private placement amount (the \"Offering\") of 14,177,725 units (\"Units\") at a price of $0.08 per Unit for gross proceeds of approximately $1,134,218. Each Unit shall consist of one common share in the capital of...