Claim Post Resources Announces Filing of Independent NI 43-101 Report Prepared by P & E Mining Consultants Inc. on SEDAR
21 June 2014 - 6:27AM
Marketwired Canada
Claim Post Resources Inc. (TSX VENTURE:CPS) (the "Company") is pleased to
announce that on June 13, 2014 it filed on SEDAR the independent NI 43-101
Technical Report and Resource Estimate on the Seymourville Silica Sand Project,
prepared by P & E Mining Consultants Inc. ("P&E"), previously announced in the
Company's press release of April 29, 2014. In P&E's opinion, the drilling and
assaying of the Seymourville project supporting this resource estimate are
sufficient to indicate reasonable potential for economic extraction and thus
qualify it as a Mineral Resource under CIM definition standards. The mineral
resources were classified as Inferred based on existing drill hole spacing.
The resulting resource estimate is summarized below:
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Table 1.1
Mineral Resource Estimate Statement(1-4)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Tonnes SiO2 (%) Al2O3 (%) Fe2O3 (%)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
25,959,000 94.31 1.94 0.91
----------------------------------------------------------------------------
----------------------------------------------------------------------------
1. Mineral resources which are not mineral reserves do not have
demonstrated economic viability. The estimate of mineral resources may
be materially affected by environmental, permitting, legal, title,
taxation, socio-political, marketing, or other relevant issues.
2. The quantity and grade of reported Inferred resources in this estimation
are uncertain in nature and there has been insufficient exploration to
define these Inferred resources as an Indicated or Measured mineral
resource and it is uncertain if further exploration will result in
upgrading them to an Indicated or Measured mineral resource category.
3. The mineral resources in this report were estimated using the Canadian
Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on
Mineral Resources and Reserves, Definitions and Guidelines prepared by
the CIM Standing Committee on Reserve Definitions and adopted by the CIM
Council.
4. 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.
The President of Claim Post Resources, Charles Gryba, stated: "We are very
pleased with the P&E being completed in a timely fashion and filed this week on
Sedar. This report confirms that we have a very substantial silica sand resource
in Manitoba. The next step in de- risking the project 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 a 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. More drilling is planned to expand the resource as the historical
drilling to date only covers about 20% of the project area."
Charles Gryba P.Eng. is the Company Qualified Person for this press release.
Eugene Puritch, P.Eng. President of P&E Mining Consultants Inc. and an
independent Qualified Person, has reviewed and approved the technical content of
this press release.
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 in the Williston Basin (both the Canadian and U.S. sides of the
Border), and to the entire Western Canadian Sedimentary Basin from its
Seymourville Frac Sand Project, located 200 km northeast of Winnipeg, Manitoba.
Claim Post also has mineral claims in the Timmins area for gold and base metal
exploration. There are 118,019,160 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Claim Post Resources Inc.
Charles Gryba
President and Director
416-801-6366
Claim Post Resources Inc.
Peter Gryba
Corporate Affairs
416-203-3776
www.claimpostresources.com
Canadian Premium Sands (TSXV:CPS)
Historical Stock Chart
From Nov 2024 to Dec 2024
Canadian Premium Sands (TSXV:CPS)
Historical Stock Chart
From Dec 2023 to Dec 2024