|By Marketwired .||
|January 17, 2014 06:30 PM EST||
TORONTO, ONTARIO -- (Marketwired) -- 01/17/14 -- 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.
President and Director
Claim Post Resources Inc.
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