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Ares Strategic Mining Completes Sale of Drill-Ready Lithium Project in Nevada to USHA Resources Ltd.
(TheNewswire) Ares locates well-funded publicly trading company ready to ...
About this update from Ares Strategic Mining Inc
[{"type":"text","content":"Ares Strategic Mining Completes Sale of Drill-Ready Lithium Project in Nevada to USHA Resources Ltd.\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n Ares locates well-funded publicly trading company ready\nto start imminent exploration.\n \n \n \n \n \n \n Ares will become a large shareholder of USHA during hot\nlithium market.\n \n \n \n \n \n \n Ares to support USHA Resources through close working\nrelationship and as shareholders.\n \n \n \n \n \n Vancouver, B.C. -\n \n TheNewswire -\n \n March 31\n \n st\n \n , 2022 - Ares Strategic Mining\nInc. (the “Company”) (CSE:ARS)\n \n (CNSX:ARS.CN)\n \n (OTC:ARSMF) (FRA: N8I1), is pleased to announce that it has entered\ninto a mineral property option agreement (the “\n \n Option Agreement\n \n ” or “\n \n Transaction\n \n ”) with USHA Resources\nLtd. (the “\n \n Purchaser\n \n ”) of\nVancouver, British Columbia, whereby the Company has been granted the\nexclusive option to acquire a 100% interest in 140 mineral claims\nlocated at Jackpot Lake, Clark County, Nevada (the “\n \n Property\n \n ”).\n \n \n \n The Property is located within Clark County, 35\nkilometers northeast of Las Vegas, Nevada, and is comprised of 140\nmineral claims that total 2,800 acres.\n \n \n The\nproject is a “playa”, an internally drained brine deposit in which\nsediments from lithium-rich surrounding source rocks accumulate and\nfill the deposit leading to a potential concentration of lithium brine\ndue to successive evaporation and concentration events, a similar\ngeologic model as Albemarle’s Silver Peak Nevada Lithium Mine which\nhas operated continuously since 1966, and Iconic Mineral’s Bonnie\nClaire Project, which recently released a Preliminary Economic\nAssessment report (PEA) that indicates 40-year mine with an after-tax\nNPV\n \n \n 8%\n \n \n of 1.5 billion.\n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n Figure\n \n \n \n \n 1\n \n \n - Left, location of\nJackpot Lake. Right, aerial image of the \"playa\".\n \n \n \n \n The project is considered to be “drill-ready” based\non the following work which has successfully delineated a 5 x 2\n \n \n kilometre\n \n \n anomaly within a\nclosed basin that suggests the presence of a highly concentrated\nbrine:\n \n \n ...