Ares Strategic Mining Completes LiDAR and Commences NI 43-101 on Liard Fluorspar Project
Ares Strategic Mining Completes LiDAR Modelling
and Commences NI 43-101 Technical Report on its
100% owned Canadian Fluorspar Project
• Two historic resource estimates (*) of 3.5 million tons of 32% CaF2 (1975) and 2.6
million tons of 30% CaF2 (1981).
• High-quality fluorspar, assays confirm no sulfides of deleterious elements.
• Historic mineral resources delineated within several disconnected zones, all open in
several directions and at depth.
• Historic database acquired with project purchase.
Vancouver, B.C. January 13th, 2022 — Ares Strategic Mining Inc. (“Ares” or the “Company”)
(CSE:ARS) (OTC:ARSMF) (FRA: N8I1), is pleased to announce that it has received all
deliverables from a Laser Imaging, Detection and Ranging ("LiDAR") survey flown in October
2021 over its 100% owned Liard Fluorspar Project located in British Columbia (see
https://www.aresmining.com/liard-property-british-columbia for project location and technical
information). The Company has now received and processed all received data into 3D models of
the property, which can be used for project planning, prospect targeting, and future construction
modelling.
Ares has commissioned Toby Hughes P.Geo., to complete a National Instrument 43-101 report for
its Canadian Fluorspar project in British Columbia, which will be used to further advance the
development of the project.
In addition to the NI 43-101 technical report, the goal of this year's exploration work is to evaluate
all historical data and to interpret the structural framework of this Mississippi Valley type style of
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mineralization to vector in on the most prospective areas for drilling in 2022. LiDAR is a valuable
tool for helping to accurately locate all the historic work under now a thick vegetation coverage
and to identify the most promising target areas on the property. It will as well increase the
efficiency and productivity of the follow-up field programs. The Company sent geologists to site
in December 2021 to collect fluorspar samples for assaying and evaluation, all samples confirmed
there were no sulfides of deleterious elements present in the fluorspar which could impede or
complicate development.
Figure 1 - Orthophoto and terrain Digital Elevation Model (DEM) covering the Liard Fluorite Project and indication
of historic (MinFile) fluorspar showings (purple dots).
Data from the LiDAR survey will be used in conjunction with additional historic exploration
information to identify high-priority targets for follow-up. Results of this work will be used to
accomplish the following:
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• Produce a high-resolution digital elevation model,
• Identify geological outcrops in areas of extensive cover,
• Identify the potential geological and structural framework, and mineralization patterns
• Assist with the design of soil geochemistry surveys,
• Compile, review and repositioning of all historical data available as required
• Design and execute a regional airborne radiometric survey to identify more fluorspar
occurrences not exposed or near surface,
• Develop a field program consisting of prospecting, mapping, and sampling work over areas
of interest identified from the airborne survey data and the historical database.
Figure 2 - TAM and Coral historic showings (trenches, access trails and drill pads) as seen through the tree
canopy coverage after applying LiDAR technology. The historic trenches and drill collar locations can be
now more accurately repositioned than before with the previous methods applied before even the use of GPS
devices.
The results of the preliminary 2021 field work site visit include some rock sampling for assays
oriented at deleterious elements as well as trace elements that can be used for airborne radiometric
surveys to detect near surface to outcropping fluorite occurrences in densely forested zones. The
preliminary results are satisfactory indicating the no presence of sulfides, and Si, Ba, Sr as
accessory major elements (quartz, barite, baritocelestite and witherite) accompanying the fluorite.
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These initial results will also be used to develop priority targets for the Company's inaugural drill
program, commencing in 2022.
James Walker, President and CEO of the Company commented, “The upgraded LiDAR
technology we employed for this survey has given us greater detailed information than we
expected. The great results will make target identification and designing project programs much
simpler for our geologists and engineers as we progress. Combining the historic resource, known
surface showings, identified geological features, and the 3D models, we can create detailed
exploration programs with high degrees of confidence. We expect to readily confirm the
historically demonstrated strengths of the project as we continue to develop this promising
prospect”.
Historic Resource Estimates (*).
Figure 3 – Historic Resource Summary Statements*
(*) There is no information as to the methods used, key assumptions, parameters, and category of
the estimates. The current Qualified Person for Ares has not done sufficient work to classify the
historic estimate as current mineral resources or reserves; and Ares is not treating the historic
mineral resource estimate as current. Based on an evaluation of the drill-spacing and the nature of
the deposit, the confidence level of the historic resource estimate would likely be in the inferred
category by today’s NI 43-101 standards.
The Company would also like to announce that it has successfully completed its Private Placement,
amended from its announcement on January 7 th, 2022, for gross aggregate proceeds of
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approximately $803,652 by the issuance of 1,891,673 Shares at a price of $0.38 per Share. The
proceeds of the Private Placement are expected to be used to fund the Company’s Utah fluorspar
project and for general working capital. All Shares issued in connection with the Private Placement
are subject to a statutory hold period expiring on the date that is four months and one day after the
date of issue.
Raul Sanabria, P.Geo., is a qualified person as defined by NI 43 -101 and has reviewed and
approved the technical contents of this news release. Mr. Sanabria is not independent to the
Company as he is a director and shareholder.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ARES STRATEGIC MINING INC.
James Walker
Chief Executive Officer and President
For further information, please contact James Walker by phone at 604-345-1576 or by email at
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 Ares, the Company intends to move forward with the development of its Utah asset.
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
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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.