REPEAT: Claim Post Completes Initial NI 43-101 Inferred Resource Estimate of 25 Million Tonnes of Silica Sand/Clay Matrix at ...
07 Maio 2014 - 2:00PM
Marketwired Canada
Claim Post Resources Inc. (TSX VENTURE:CPS) (the "Company") the Company is very
pleased to announce that P&E Mining Consultants Inc. has estimated the
Seymourville Project NI 43-101 Inferred Resource Estimate at 15 million cubic
meters or at a bulk density of 1.73 tonnes per cubic meter; 25 million tonnes at
a composite grade of 94% Si02. The sand composite is a mixture of 99% pure
silica sand with a matrix of clay, fine silica, iron minerals etc. which will be
removed when processed as frac sand. This high grade silica sand deposit is
located 200 km north-east of Winnipeg, Manitoba just off of paved Highway 304 on
the east shore of Lake Winnipeg (the "Seymourville Project").
The Seymourville project is being evaluated for use as a natural sand proppant
"frac sand" for the oil and gas industry. The initial NI 43-101 resource
estimate is the first key step to advance the Seymourville frac sand project to
production. Preliminary screening at SGS labs in Lakefield Ontario indicates
approximately 80% of the sand/clay matrix is in the frac sand size range of 20
to 140 mesh. SGS testwork will also investigate the recovery of the minus 140
mesh silica and perhaps clay minerals such as kaolinite.
The President of Claim Post Resources, Charles Gryba, stated: "We are very
pleased with this report; it confirms that we have a very substantial silica
sand resource, which we can grow with additional drilling. The next step in
de-risking the project is contracting an independent Preliminary Economic
Assessment in order that we can evaluate the potential economics of the project
once the SGS - API testwork is completed. Based on the resources delineated in
this report, and if one assumes a mine life of 20 years, we are now in a
position to evaluate the economics of a mine - processing plant with a
production capacity of around 1 million tonnes per year of frac sand."
Claim Post previously announced (March 11th, 2014 Press Release filed on SEDAR)
that a 1,000 kilogram representative sample of sand from 20 individual sonic
drill holes was delivered to the SGS Lab in Lakefield Ontario for bench scale
metallurgical test work which was followed by, API ISO frac sand test work.
Ultimately the remainder of the sand was processed into 1 kg samples for test
marketing frac sand to oil and natural gas operators.
The market for natural frac sand continues to grow at a high rate. The State of
Wisconsin alone produces about 75% of all the US frac sand. U.S. frac sand
production has grown from 20 million tonnes in 2011, to 28 million tonnes in
2012 and to about 40 million tonnes in 2013. The Vice President of Union Pacific
Railroads at the September 2013 Frac Sand Conference in Minneapolis, based on
their extensive studies, forecast that the U.S market will be 67 million tonnes
of frac sand by 2017.
Claim Post's Seymourville frac sand deposit is approximately 1,000 km closer to
the Canadian market than Wisconsin sand deposits; this indicates the potential
for significant transportation savings. Claim Post is evaluating a transload
facility at the Centre Port site in Winnipeg which will provide unit train
loading and access to CN, CPR and the BNSF railroads plus provide bulk truck or
container service to the oil industry in Manitoba, Saskatchewan and the U.S.
side of the Williston Basin.
Charles Gryba P.Eng. is the Company Qualified Person for this press release.
Eugene Puritch, P.Eng. President of P&E Mining Consultants Inc. and an
independent Qualified Person, has reviewed and approved the technical content of
this press release.
Claim Post Resources Inc. is a Canadian based mineral exploration company and a
reporting issuer in Ontario, Alberta and British Columbia. The Company is
focused on becoming a leading provider of premium white silica sand proppant to
oil operations in the Williston Basin (both the Canadian and U.S. sides of the
Border), and to the entire Western Canadian Sedimentary Basin from its
Seymourville Frac Sand Project, located 200 km northeast of Winnipeg, Manitoba.
Claim Post also has mineral claims in the Timmins area for gold and base metal
exploration. There are 96,452,164 common shares of the Company currently issued
and outstanding.
Statements in this release that are forward-looking reflect the Company's
current views and expectations with respect to its performance, business, and
future events. Such statements are subject to various risks and assumptions,
some, but not necessarily all, are disclosed elsewhere in the Company's periodic
filings with Canadian securities regulators. Such statements and information
contained herein represent management's best judgment as of the date hereof
based on the information currently available; however actual results and events
may vary significantly.
The Company does not assume the obligation to update any forward-looking
statement. Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)accepts
responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Claim Post Resources Inc.
Charles Gryba
President and Director
416-801-6366
Claim Post Resources Inc.
Peter Gryba
Corporate Affairs
416-203-3776
www.claimpostresources.com
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