10:18 AM EST - Ares Strategic Mining Inc. : Announced that following modelling work using recent drilling and assaying data, the discovery of high-grade industry ready metspar quality fluorspar, already vetted by industry, and suitable for applications such as a flux in the manufacture of steel. The Purple Pit had been mined to a depth of 20 m through artisanal means, and the excavated fluorspar was sold directly to industry, unprocessed. Discovering a large unmined zone at the Purple Pit that continues for at least a further 60 m to depth, ensures the Company has fluorspar mineralization ready to be extracted without requiring the mineral processing most mining operations undertake to produce a saleable product. The high-grade fluorspar mineralization remaining open also indicates that this 80% pure CaF2 region extends deeper. Ares has commissioned geophysics work to conduct a thorough characterization of known breccia pipes and to develop the current working hypothesis of the main originating fluorspar source for all the fluorspar on the Spor Mountain. Ares Strategic Mining Inc.
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