Ares finds germanium, gallium in Utah fluorspar ore

Executive Summary

• Ares Strategic Mining has confirmed the presence of germanium (Ge) in addition to previously discovered gallium (Ga) within its fluorspar ore samples from the Spor Mountain project in Utah.
• The discovery was made through a partnership with Iowa State University (ISU) and Ames National Laboratory, identifying germanium as a critical mineral vital for semiconductors, fiber optics, and solar cells.
• The company plans to continue advanced laboratory characterization to quantify concentrations and investigate commercial pathways for extracting these critical minerals alongside fluorspar.

Key Details

• Discovery Location: Spor Mountain project, Utah (Lost Sheep Fluorspar project).
• Minerals Identified: Germanium (Ge) and Gallium (Ga), both classified as critical minerals on the U.S. supply risk list.
• Analytical Method: Inductively coupled plasma optical emission spectroscopy (ICP-OES).
• Sample Preparation: Seven separate samples of fluorite material were finely ground and washed to remove surface impurities.
• Germanium Concentrations:
  • Sample 1: 0.15% (1,500 ppm) with an error margin of ±0.02%.
  • Sample 2: 0.05% (500 ppm) with an error margin of ±0.01%.
• Strategic Significance: Germanium is extremely rare, with global production dominated by China; its presence adds significant strategic value to the fluorspar deposit.
• Next Steps:
  • Continue advanced laboratory characterization to quantify full germanium and gallium concentrations across additional batches.
  • Investigate commercial pathways to extract and recover these materials alongside fluorspar.
  • Evaluate potential economic co-products and vertical integration opportunities.
• Project Status: The Lost Sheep Fluorspar project is 100% owned, comprises 5,982 acres (353 claims), is fully permitted (including mining permits), and has a mining plan approved by the Bureau of Land Management.

Notable Quotes

• "The presence of both germanium and gallium -- both critical minerals on the U.S. supply risk list -- within our fluorspar ores opens an exciting new strategic pathway for Ares. This breakthrough aligns with our broader vision to unlock additional critical mineral value from our deposits, further differentiating Ares as a leader in North America's mineral independence." — James Walker, Chief Executive Officer