Claim Post Resources Inc. Retains P&E Mining Consultants Inc. for Completion of a NI 43 -101 Resource Estimate Technical Rep...
20 Janvier 2014 - 3:00PM
Marketwired
Claim Post Resources Inc. Retains P&E Mining Consultants Inc.
for Completion of a NI 43 -101 Resource Estimate Technical Report
TORONTO, ONTARIO--(Marketwired - Jan 20, 2014) - Claim Post
Resources Inc. (TSX-VENTURE:CPS) (the "Company") announces that it
has retained P&E Mining Consultants Inc. ("P&E") of
Brampton, Ontario to complete a NI 43-101 Resource Estimate
Technical Report on Claim Post's Seymourville Frac Sand Project
located 200km north-east of Winnipeg, Manitoba just off Highway 304
on the east shore of Lake Winnipeg. (The "Seymourville
Deposit".)
The Seymourville deposit is the on shore extension of the Black
River Formation mined for high purity silica from 1928 to 2003 on
Black Island. A thin layer of glacial till effectively hid the sand
deposit located within a 25 meter high, flat topped hill.
Government geologists identified the deposit from a road cut. The
drilling of 12 diamond drill holes in the 1980's plus trenching of
shallow outcropping sand, led to the publishing of a historical 45
million ton resource of silica sand (Manitoba Open File Report OF
96-4). The sand was evaluated to a historical Feasibility Study
level in 1996 as SiO2 feed for 500 tons per day plate glass plant
(Manitoba Open File, OF 96-7). Caution, A qualified person has
not done sufficient work to classify the historical estimate as
current mineral resources; the issuer is not treating the
historical estimate as current mineral resources.
Claim Post has purchased or optioned 734 hectares of Quarry
Leases covering most of the Seymourville sand deposit from Char
Crete Ltd and Gossan Resources Ltd. Gossan completed three drill
campaigns, totaling 58 drill holes from 2004 to 2008 on the Gossan
portion of the sand leases. The 2008 drill program was 25 sonic
drill holes, 3.5 inches in diameter, drilled to a maximum 30 meter
depth. In 2009, Gossan processed sand from 3 sonic drill holes to
frac sand size ranges and retained the PropTester Labs in Texas to
complete a range of API ISO test work for potential marketing to
the oil and gas industry as a proppant. Sand from the remaining 22
sonic drill holes has been in locked storage in Winnipeg since
2008. Four of the government drill holes were drilled on the Char
Crete leases; the remaining 8 holes were drilled for general
exploration of the sand deposit.
The President of Claim Post Resources, Charles Gryba, stated:
"We are concentrating on de-risking the Seymourville frac sand
project. We want to independently compile all of the Gossan and
Government drilling into a single data base prior to starting our
own sonic drill program to confirm and expand the size of the
resource. We have just completed a Lidar survey that gives us a 0.5
meter interval contour map which allows the 70 drill hole collar
elevations and locations to be plotted accurately on a base map. It
is anticipated that P&E would be able to calculate an Indicated
resource. We expect to have the P&E technical report press
released before the end of Q1 2014."
The historical metallurgical testwork for glass manufacturing
indicates that the Black River Formation sand stone has been mainly
disintegrated into individual sand grains surrounded entirely by
clay. Simply scrubbing off the clay or washing the sand with water
results in pure white, round sand grains grading over 99% pure SiO2
ideal for processing into frac sand. We are in the process of
structuring a program to de risk the processing side of the
Seymourville project.
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. Production has grown from 22 million tons in 2011, to 31
million tons in 2012 and to 38 million tons in 2013. The Vice
President of Union Pacific Railroads at the September 2013 Frac
Sand Conference in Minneapolis predicted, based on their extensive
studies that the U.S market will be 70 million tons of frac sand by
2017.
Claim Post's Seymourville frac sand deposit is about 1,000 km
closer to the Canadian market than Wisconsin sand deposits; this
indicates the potential for significant transportation savings.
Charles Gryba P.Eng is the Company Qualified Person for this
press release and Gene Puritch P. Eng. P&E will be the
Independent Qualified Person.
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
the Williston Basin (both the Canadian and U.S. sides of the
Border), and natural gas operations in the Montney and Horn River
basins along the Alberta - British Columbia border from its
Seymourville Frac Sand Project, located northeast of Winnipeg,
Manitoba. Claim Post also has mineral claims in the Timmins area
for gold and base metal exploration. There are 95,092,164 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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