Claim Post Resources Announces Filing of Independent NI 43-101 Report Prepared by P & E Mining Consultants Inc. on SEDAR
20 Giugno 2014 - 10:27PM
Marketwired
Claim Post Resources Announces Filing of Independent NI 43-101
Report Prepared by P & E Mining Consultants Inc. on SEDAR
TORONTO, ONTARIO--(Marketwired - Jun 20, 2014) - 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 |
- 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.
- 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.
- 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.
- 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.
Claim Post Resources Inc. Charles GrybaPresident and
Director416-801-6366Claim Post Resources Inc. Peter GrybaCorporate
Affairs416-203-3776www.claimpostresources.com
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