CPS Canadian Premium Sands Inc

TORONTO, ONTARIO--(Marketwired - Mar 12, 2014) - Claim Post Resources Inc. (TSX-VENTURE:CPS) (the "Company") announces that it has retained SGS Mineral Services of Lakefield, Ontario to do bench scale test work for the Seymourville silica sand deposit. The high grade silica sand deposit is located 200 north-east of Winnipeg, Manitoba just off of paved Highway 304 on the east shore of Lake Winnipeg. (The "Seymourville Deposit")

The Seymourville Deposit is being evaluated for use as a natural sand proppant ("frac sand") for the oil and gas industry. As part of the Claim Post plan to advance the Seymourville frac sand project to production, a 1000 kilogram sample of sand from 20 individual sonic drill holes was delivered to the SGS Lab in Lakefield, Ontario, from secure storage in Winnipeg. The sand will be composited with 25% stored at Lakefield, 25% returned to Winnipeg and 50% metallurgical tested and ultimately processed into 1 kg samples for test marketing frac sand to oil and natural gas companies.

Gossan Resource Ltd. in 2009 processed three sonic holes for frac sand analysis. Test-work by PropTest Labs, of Cyprus, Texas testwork showed that the Seymourville sand meets all API ISO specs for frac sand. The sand tested in the 8,000 to 10,000 psi compressive strength range. Based on glass metallurgical test work (Manitoba Open File, OF 96-7 by Jack Kriens) as well as more recent Gossan assaying, the Seymourville Deposit consists of 99% pure silica sand within a 3% to 10% clay matrix. The current SGS metallurgical testing program has the following objectives:

1. Calculation of the average percentage clay and silica sand content based on a representative 100 kg composite sample made up from the 20 sonic drill holes (3.5 inch diameter). This will allow the determination of the average bulk density of the clay-silica mixture required for NI 43 - 101 compliant tonnage calculations plus an analysis of the types of clay.
2. Determination of scrubbing times to remove clay with microscope evaluation of the sand grains to ensure cleanliness at the various size ranges. Drying and magnetic separation will be done prior to completion of a detailed screen analysis of the 100kg sample for estimation of the tonnage split for each frac sand size range.
3. Upon finalization of the flow sheet, preparation of several 1kg samples for each frac sand size range (including 20/40, 30/50, 40/70 and 70/140 gradations) for shipment to the PropTester laboratory in Texas or alternatively StemLabs for API ISO test work.
4. Once the API testwork results are known; the remaining 400kg of the bulk sample would be processed into 1 kg samples for the pre-marketing of "Manitoba White" frac sand to oil and natural gas companies.
5. To further de-risk to project; environmental base line and clay dewatering testwork will be a major part of the SGS work. The frac sand plant is designed with closed circuit water usage; clay will be thickened, filtered and trucked dry back to pits for long term storage.

The President of Claim Post Resources, Charles Gryba, stated: "We are concentrating on de-risking the Seymourville project in stages. We have contracted an independent NI 43 101 Report plus now have retained SGS to process a representative 500kg sample to industry standard natural frac sand specifications for pre marketing frac sand. The clay and environmental testwork will allow Claim Post to complete a preliminary design of the frac sand mining and milling operation plus allow us to do a more accurate scoping study. Our upcoming sonic drill program will be designed to confirm the SGS flow sheet as well as increase resource confidence and tonnage."

Charles Gryba P.Eng. is the Company's Qualified Person for 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 natural gas plays in the Montney and Horn River basins along the Alberta - British Columbia border 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 96,452,164 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.

Claim Post Resources Inc.Charles GrybaPresident and Director416-801-6366Claim Post Resources Inc.Peter GrybaCorporate Affairs416-203-3776www.claimpostresources.com

Canadian Premium Sands (TSXV:CPS)
Historical Stock Chart
Von Nov 2024 bis Dez 2024

Canadian Premium Sands (TSXV:CPS)
Historical Stock Chart
Von Dez 2023 bis Dez 2024