Business
Claim Post Announces Completion of 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--(Newsfile Corp. - April 30, 2014) - Claim Post Resources Inc. ( TSXV: CPS ...
About this update from Canadian Premium Sand, Inc.
[{"type":"text","content":"\nClaim Post Announces Completion of 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 AreaToronto, Ontario--(Newsfile Corp. - April 30, 2014) - \nClaim Post Resources Inc. (TSXV: CPS) (the \"Company\") the Company is very pleased to announce that P&E Mining Consultants \nInc. 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 \n99% 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 \nthe east shore of Lake Winnipeg(the \"Seymourville Project\"). \n\nThe 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 \nproduction. 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 \nperhaps clay minerals such as kaolinite. \n\nThe 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 \nproject 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 \na 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.\" \n\nClaim Post previously announced (March 11th \n, 2014 Press Release filed on SEDAR) that a 1,000 kilogram representative sample of sand from 20 individual sonic drill holes was delivered to ...