Click here to close now.




















Welcome!

News Feed Item

Victory Mountain Acquires Alberta Frac Sand Property

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/14/14 -- Victory Mountain Ventures Ltd. (TSX VENTURE:VMV) ("Victory") announces that it has entered into an option agreement (the "Agreement"), subject to the approval of the TSX Venture Exchange, whereby it may earn a 100% interest in 8 Metallic and Industrial Minerals Permits totalling approximately 737 square kilometres (73,728 hectares; the "Property"), which is located west of Fort McKay, in the prolific Fort McMurray area of northeastern Alberta. Frac sand is actively being sought out and mined in Alberta to meet growing demand, with particular interest in abundant silica sand associated with the Paddy and time equivalent Pelican formations in Northern Alberta. The Pelican Formation is known to crop out or underlie the Property as identified in preliminary work.

The property is served by a network of all-weather roads serving the oil and gas industry. Approximately 95 km of all-weather roads link the property to Fort McMurray and an active rail line. Preliminary review of extensive oil and gas well drilling in the Property area has outlined Pelican sand thicknesses of up to 50 plus metres, which will be the focus of exploration. The sand is near to and in some areas exposed at surface, which will facilitate affordable exploration costs and upcoming operational logistics.

Consulting Geologist Mike Dufresne commented, "Future evaluation of the frac sand potential of the Property is warranted given: the proximity of several Steam-Assisted Gravity Drainage operations in the Property area; the developing infrastructure associated with oil sands growth adjacent to and on the Property; and an increasing number of tight oil and gas plays in Alberta and neighboring provinces/territories."

Director Patrick Morris commented, "The shale gas industry in Western Canada is in its infancy. We are very pleased to take the first step towards becoming one of the first TSX-V listed companies to become suppliers of frac sand in Canada. Currently 90 percent of frac sand used in the Canadian oil and gas industry (approximately 3.5 million tons per year) comes from the Midwestern United States. We believe there is a strong economic future in this sector, and therefore for our shareholders in producing a domestic supply in Canada."

"Frac sand" is high-purity quartz silica sand with very durable round grains. It is a crush-resistant material produced for the petroleum industry. It is used in the hydraulic fracturing process known as "fracking" to aid in the flow of oil, natural gas and natural gas liquids. Frac sand is also referred to as a "Proppant" because it props the fractures open to allow easier flow of oil and gas.

Pursuant to the terms of the Agreement, Victory will pay a cumulative amount of $40,000 cash, issue 2,500,000 common shares and incur a minimum of Exploration Expenditures of $350,000 over a two year period. The Property will also be subject to a 1% gross overriding royalty. Finder's fees, as allowed pursuant to the policies of the TSX Venture Exchange, may be payable in connection with this acquisition.

Victory Mountain Ventures Ltd. (TSX VENTURE:VMV) is a Junior Exploration Company based in Western Canada. The Company has interests in Frac Sand, Copper, Gold, Silver, Molybdenum and other base metals in Canada.

Technical information in this news release has been prepared and/or revised by Mike Dufresne, P.Geol., a qualified person as defined in NI 43-101.

On Behalf of the Board of Directors

VICTORY MOUNTAIN VENTURES LTD.

Charles Desjardins, President and Director

"Neither the 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."

Cautionary note:

This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. The production rate and mine-life projections have been made without support of a feasibility study, there is no certainty the proposed operations will be economically viable. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The Internet of Things is in the early stages of mainstream deployment but it promises to unlock value and rapidly transform how organizations manage, operationalize, and monetize their assets. IoT is a complex structure of hardware, sensors, applications, analytics and devices that need to be able to communicate geographically and across all functions. Once the data is collected from numerous endpoints, the challenge then becomes converting it into actionable insight.
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of tech...
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
U.S. companies are desperately trying to recruit and hire skilled software engineers and developers, but there is simply not enough quality talent to go around. Tiempo Development is a nearshore software development company. Our headquarters are in AZ, but we are a pioneer and leader in outsourcing to Mexico, based on our three software development centers there. We have a proven process and we are experts at providing our customers with powerful solutions. We transform ideas into reality.
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of ...
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA. This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on...
Everyone talks about continuous integration and continuous delivery but those are just two ends of the pipeline. In the middle of DevOps is continuous testing (CT), and many organizations are struggling to implement continuous testing effectively. After all, without continuous testing there is no delivery. And Lab-As-A-Service (LaaS) enhances the CT with dynamic on-demand self-serve test topologies. CT together with LAAS make a powerful combination that perfectly serves complex software developm...
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises ar...
In 2014, the market witnessed a massive migration to the cloud as enterprises finally overcame their fears of the cloud’s viability, security, etc. Over the past 18 months, AWS, Google and Microsoft have waged an ongoing battle through a wave of price cuts and new features. For IT executives, sorting through all the noise to make the best cloud investment decisions has become daunting. Enterprises can and are moving away from a "one size fits all" cloud approach. The new competitive field has ...
SYS-CON Events announced today that the "Second Containers & Microservices Expo" will take place November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
Moving an existing on-premise infrastructure into the cloud can be a complex and daunting proposition. It is critical to understand the benefits as well as the challenges associated with either a full or hybrid approach. In his session at 17th Cloud Expo, Richard Weiss, Principal Consultant at Pythian, will present a roadmap that can be leveraged by any organization to plan, analyze, evaluate and execute on a cloud migration solution. He will review the five major cloud transformation phases a...
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, will introduce the technologies required for implementing thes...
eCube Systems has released NXTmonitor, a full featured application orchestration solution. NXTmonitor, which inherited the code base of NXTminder, has been extended to support multi-discipline processes and will act as a DevOps utility in a heterogeneous enterprise environment. Previously, NXTminder was packaged with NXTera middleware to configure and manage Entera and NXTera RPC servers. “Since we are widening the focus of this solution to DevOps, we felt the need to change the name to NXTmon...