Business
Booming Frac Sand Markets Golden for 92 Resources
ZURICH, SWITZERLAND / ACCESSWIRE / March 13, 2017 / While continuing to focus and advance i...
About this update from Germanium Mining Corp.
[{"type":"text","content":"Booming Frac Sand Markets Golden for 92 Resources\nZURICH,\nSWITZERLAND / ACCESSWIRE / March 13, 2017 / While continuing to focus and advance its flagship Hidden Lake Lithium Project near Yellowknife in the Northwest Territories, 92 Resources Corp. (TSX.V: NTY) today announced its plans to start mapping, sampling and drilling its Golden Frac Sand Property near Golden in British Columbia, Canada.\n92 Resources also announced today that it has expanded its Golden Frac Sand Property by almost 300%, adding 2,404 hectares to the original 808 hectares Zim Frac Property. The company believes that significant value can be unlocked to increase shareholder value as the property represents a significantly undervalued asset given its potential to host a large, high quality frac sand deposit.\nGiven the company's relatively small market capitalization of around $6 million CAD, it is easy to see the savvy reasoning behind this. \nA few weeks ago, ASX-listed Heemskirk Consolidated Ltd. was the subject of a >$42 million AUD takeover bid from Sydney-based Taurus Resources Fund No. 2 via its newly created private Canadian subsidiary Northern Silica Corp. Heemskirk is the owner of the Moberly Silica Mine, which covers a portion of the Mount Wilson Formation. \n92 Resources' Golden Frac Sand Property is not only adjacent and contiguous with Heemskirk's quarry-style mine but also covers some 18 km strike length of the favourable Mount Wilson Formation, which hosts high purity, white quartzite with a high friability. Adrian Lamoureux (President and CEO of 92 Resources) commented today: \n\"Domestic or western Canadian Frac Sand deposit with suitable quality would benefit from more advantageous transportation and exchange rate costs over foreign competitors. We believe these to be important factors in the recent takeover of the neighboring Moberly Silica Sand Mine, which is slated for production in 3rd quarter of 2017.\"\nThe full report\ncan be accessed with the following links:\nEnglish (PDF): http://rockstone-research.com/images/PDF/92Resources9en.pdf \nEnglish (web version): http://rockstone-research.com/index.php/en/research-reports/2643-Booming-Frac-Sand-Markets-Golden-for-92-Resources \nGerman (PDF): http://rockstone-research.com/images/PDF/92Resources9de.pdf \nDisclaimer:\nPlease read the full disclaimer within the full research report as a...