REPEAT: Claim Post Completes Initial NI 43-101 Inferred Resource Estimate of 25 Million Tonnes of Silica Sand/Clay Matrix at ...
May 07 2014 - 12:00PM
Marketwired
REPEAT: Claim Post Completes Initial NI 43-101 Inferred Resource
Estimate of 25 Million Tonnes of Silica Sand/Clay Matrix at
Seymourville Project on Approximately 20% of the Project License
Area
TORONTO, ONTARIO--(Marketwired - May 7, 2014) - 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.
Claim Post Resources Inc.Charles GrybaPresident and
Director416-801-6366Claim Post Resources Inc.Peter GrybaCorporate
Affairs416-203-3776www.claimpostresources.com
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