by Greg Klein | July 2, 2020
A company with near-term plans to re-open America’s only source of this critical mineral has taken another step towards production. Ares Strategic Mining TSXV:ARS has contracted P&E Mining Consultants to complete the mine plan for the former Lost Sheep fluorspar operation in Utah. P&E has extensive experience in geological interpretation and modeling, technical report writing, mine design, production scheduling, operating and capital cost estimates, and metallurgical engineering, Ares stated.
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Reduced to quarry operations in recent years,
Lost Sheep could see new life as an underground mine.
The intention is “not to fulfil PEA requirements, but to provide mining personnel the systems and information to efficiently and directly operate and manage the mining operation,” the company added. Ares hopes to re-open Lost Sheep without the de-risking stages of advanced 43-101 reports.
Should all go to plan, Lost Sheep would be the country’s only producer of this mineral considered critical for its applications in refrigerants, pharmaceuticals, electronics, and lithium-ion batteries, as well as aluminum, steel and cement production.
“After having completed our delineation drilling, Lidar and metallurgical work, the company is now moving to the next stages of development which precede mining and production,” said CEO James Walker. “Once this stage is complete, we will have the methodology, models, mining techniques and plans to best exploit the mine and fluorspar deposits. We are very happy to be making continuous progress towards our goals, and we look forward to returning an industry to the U.S. and being the only fluorspar producer in the country.”
Earlier this month the company closed a private placement of approximately $1.18 million. An earlier private placement that closed in February raised $1.97 million.
Read more about Ares Strategic Mining.
