Zimtu Capital Corp. announces transaction with Rainmaker Mining Corp. for Peace River Frac Sands Property in Alberta, Canada

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[{"type":"text","content":"\n\n\nVANCOUVER, Feb. 5, 2014 /CNW/ - Zimtu Capital Corp. (TSXv: ZC; FSE:\n ZCT1) (the \"Company\" or \"Zimtu\") is pleased to announce that the\n Company and one of its prospecting partners have signed an agreement\n with Rainmaker Mining Corp. (TSXv: RMG) (\"Rainmaker\") whereby Rainmaker\n can earn a 100%-interest in the Peace River Frac Sands Property located\n in north-western Alberta, Canada.\n\n\nFor its participation in the transaction, Zimtu will receive staged cash\n and share payments from Rainmaker as follows: (i) $5,000 on signing;\n (ii) 375,000 common shares on acceptance by the TSX Venture Exchange\n (\"TSXv\"); (iii) $5,000 and 375,000 common shares on completion of a\n successful exploration program on or before September 15, 2014. Zimtu's\n partner will receive cash and share consideration equal to that of\n Zimtu. The vendors will collectively retain a 2% royalty on production,\n 1% of which can be purchased by Rainmaker for $1,000,000. The\n transaction is subject to acceptance by the TSXv.\n\n\nPeace River Frac Sands Property, Alberta Canada:\n\n\nThe Peace River Property is located north of the community of Peace\n River, adjacent to the Peace River Frac Sand Quarry, which is owned and\n operated by Canadian Silica Industries. It extends for approximately 40\n km along the Peace River, straddling both the East and West banks where\n the target unit is exposed. Within the region, the Lower Cretaceous\n Paddy Member of the Peace River Formation is currently mined for frac\n sand. The Paddy Member is a friable sand unit representing a shoreline\n facies deposited in a fluvial environment, with a thickness up to 16.5\n m (7.7 m average). The sand grains are almost entirely colorless quartz\n and beds are dominantly uncemented, which is ideal as a frac sand\n proppant in hydraulic fracturing.\n\n\nThe Peace River Frac Sand Quarry reportedly has a total annual capacity\n of 500,000 tonnes of silica sand. Rainmaker is encouraged by the\n acquisition given its proximity to infrastructure such as rail and\n roads, and location near the community of Peace River. Additionally, it\n is located in close proximity to the Horn River, Montney, and Cardium\n basins, and is central to the frac sand market within northwestern\n Alberta.\n\n\nHigh priority exploration targets have been identified along the river\n banks from ...

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