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Ares Strategic Mining Diversifies its Fluorspar Portfolio. Signs Definitive Agreement to Acquire Liard Fluorspar Project in British Columbia
(via TheNewswire) Vancouver, British Columbia - TheNewswire - April...
About this update from Ares Strategic Mining Inc
[{"type":"text","content":"Ares Strategic Mining Diversifies its Fluorspar Portfolio. Signs Definitive Agreement to Acquire Liard Fluorspar Project in British Columbia(via TheNewswire)\n \n \nVancouver, British Columbia - TheNewswire - April 23rd, 2020 - ARES STRATEGIC MINING INC. (\"Ares Strategic Mining\" or \"Ares\" or the \"Company\") (TSXV:ARS) (FRANKFURT:N8I), today announced it has entered into a Definitive Agreement to acquire 100% of the Liard Fluorite project, the most significant fluorite prospect in British Columbia. \n\n \n \nThe prospects and deposits are located near the Liard River, and are accessible from mile 497 of the Alaska Highway, extending northwards for around 16km. Ares has acquired 100% of the 1,176 acres of targeted fluorspar prospects. \n\n \n \nThe showings were discovered in 1953, and exploration work commenced in 1954. By 1971 regional prospecting resulted in the discovery of the northern showings, which were drilled and extensively explored during 1971 and 1972, with grades in excess of 30% fluorspar over excellent widths and thicknesses. Historic drilling was completed between 1975 and 1981 for a total of 79 drill holes ending up in forming part of a historic resource estimate. A summary of the historical resources includes:\n\n \n \nTAM Prospect: 2,039,000 tons indicated at 31.5% Fluorspar\n\n\n \nCamp Prospect: 19,200 tons inferred at 20% Fluorspar \n\n\n \nFire Prospect: 160,400 tons indicated at 37% Fluorspar\n\n\n \nTee Deposit: 470,000 tons inferred at 52% Fluorspar\n\n\n \nCliff Prospect: 90,000 tons inferred at 35% Fluorspar. \n\n\n \nCoral Prospect: 589,000 tons indicated at 36.6% Fluorspar\n\n\n \nCoral Prospect: 588,000 tons indicated at 22.6% Fluorspar\n\n \n \nThe 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 estimates as a current mineral resource and Ares is not treating them as a current mineral resources.\n\n \n \nAres has acquired the prospects from David Heyman and Clive Brookes, who will receive $10,000 and $21,000 respectively, as well as 2,500,000 (Two Million Five Hundred Thousand) common shares each. In addition, Mr. Brookes and Mr. Heyman will retain a 2% royalty for th...