Welcome!

@DXWorldExpo Authors: Elizabeth White, Yeshim Deniz, Pat Romanski, Liz McMillan, Zakia Bouachraoui

News Feed Item

Claim Post Resources Inc. Acquires 51% of Frac Sand Project in Southern Manitoba (Canada) and Options a Permitted Property Suitable for Loading Unit Trains of Frac Sand

TORONTO, ONTARIO -- (Marketwire) -- 01/25/13 -- Claim Post Resources Inc. (TSX VENTURE:CPS) (the "Company") announces that it has signed an amendment to its agreement with Char-Crete Ltd. to acquire nine contiguous silica sand quarry leases, encompassing approximately 428 hectares (1,050 acres) (see press release dated August 27, 2013). The property is located 3km from a paved highway near Seymourville, 200km North-East of Winnipeg, Manitoba (Canada) (the "Seymourville Property"). Under the amended agreement, Claim Post paid $400,000 to Char-Crete and acquired a 51% undivided interest in the Seymourville Property. Claim Post can acquire the remaining 49% interest by payment of an additional $300,000 on or before March 31, 2013. In addition, Char Crete has agreed to grant Claim Post an option to purchase a fully permitted industrial property in Winnipeg for use as a railroad loading and storage area for a payment of $400,000 on or before February 17, 2013. If Claim Post chooses to exercise the option the purchase price of the property will be $2,700,000.

The Seymourville Silica Sand deposit was discovered in 1977 and was drilled by Manitoba government geologists in 1981 and again in 1989. The deposit is the Lake Winnipeg Formation on-shore extension of the Historical Black Island silica deposit. Black Island silica was mined from 1928 to 2003 when it was incorporated into a park. Black Island sand was used as feed stock to manufacture glass, fiber glass, foundry sand and early frac sand by the oil industry.

The President of Claim Post Resources, Charles Gryba, stated: "We are very pleased to have acquired a 51% interest in the nine quarry leases from Char-Crete Ltd; we look forward to acquiring the balance of the property in the coming months. Our first priority will be to start a drilling program and API - ISO testwork towards completing a NI 43-101 report. The next step would be to commission an independent Preliminary Economic Assessment of the deposit to confirm the economics of taking the Seymourville Silica Sand Deposit to commercial production. A major step forward in de risking the project was acquiring an option on a permitted property suitable for setting up a frac sand terminal in Winnipeg with access to rail."

High silica sand deposits are very rare in Western Canada because the glaciers either destroyed the deposits or mixed in other minerals unsuitable for frac sand. Horizontal drilling and fracking in the US and Western Canada has been very successful. The Seymourville deposit has 20 - 40 mesh and 40 - 70 mesh sand used for the fracking in the Bakkens in Southern Manitoba and Saskatchewan and also 40 - 70 mesh and 100 mesh sizes suitable for natural gas fracking in the world class Montney, Horn River and Laird River basins along the Alberta - British Columbia borders.

Access to rail transportation and being closer to the market are key advantages required for any successful industrial mineral project. The option to purchase an industrial site in Winnipeg that has access to both the CN and CP rail systems is a major advantage. In 2012, the US produced 31 million tons of frac sand and CN hauled 70,000 rail road cars of frac sand from Wisconsin through Winnipeg to Western Canada. Claim Post's frac sand is about 1,000 km closer to the Canadian market.

Claim Post Resources intends to maintain its exploration properties in Timmins, Ontario which are highly prospective for both gold and base metals. The Company continues to seek joint venture partners and strategic arrangements with other companies in the industry to advance the exploration of the large Timmins land holdings.

Claim Post Resources Inc. is a Canadian based mineral exploration company and a reporting issuer in Ontario, Alberta and British Columbia. The Company currently holds a 100% interest in the mineral rights to about 1145 staked claim units and 63 patented claims (approx. 200 km sq. or 72 sq. miles), wholly within the city limits of Timmins, Ontario. The Company continues to stake ground as it becomes available and drop lower priority claims from time to time. There are 45,788,831 common shares of the Company 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.

Contacts:
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

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

DXWorldEXPO Digital Transformation Stories
"We do one of the best file systems in the world. We learned how to deal with Big Data many years ago and we implemented this knowledge into our software," explained Jakub Ratajczak, Business Development Manager at MooseFS, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Today, we have more data to manage than ever. We also have better algorithms that help us access our data faster. Cloud is the driving force behind many of the data warehouse advancements we have enjoyed in recent years. But what are the best practices for storing data in the cloud for machine learning and data science applications?
The hierarchical architecture that distributes "compute" within the network specially at the edge can enable new services by harnessing emerging technologies. But Edge-Compute comes at increased cost that needs to be managed and potentially augmented by creative architecture solutions as there will always a catching-up with the capacity demands. Processing power in smartphones has enhanced YoY and there is increasingly spare compute capacity that can be potentially pooled. Uber has successfully ...
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...
The technologies behind big data and cloud computing are converging quickly, offering businesses new capabilities for fast, easy, wide-ranging access to data. However, to capitalize on the cost-efficiencies and time-to-value opportunities of analytics in the cloud, big data and cloud technologies must be integrated and managed properly. Pythian's Director of Big Data and Data Science, Danil Zburivsky will explore: The main technology components and best practices being deployed to take advantage...
For years the world's most security-focused and distributed organizations - banks, military/defense agencies, global enterprises - have sought to adopt cloud technologies that can reduce costs, future-proof against data growth, and improve user productivity. The challenges of cloud transformation for these kinds of secure organizations have centered around data security, migration from legacy systems, and performance. In our presentation, we will discuss the notion that cloud computing, properl...
Chris Matthieu is the President & CEO of Computes, inc. He brings 30 years of experience in development and launches of disruptive technologies to create new market opportunities as well as enhance enterprise product portfolios with emerging technologies. His most recent venture was Octoblu, a cross-protocol Internet of Things (IoT) mesh network platform, acquired by Citrix. Prior to co-founding Octoblu, Chris was founder of Nodester, an open-source Node.JS PaaS which was acquired by AppFog and ...
By 2021, 500 million sensors are set to be deployed worldwide, nearly 40x as many as exist today. In order to scale fast and keep pace with industry growth, the team at Unacast turned to the public cloud to build the world's largest location data platform with optimal scalability, minimal DevOps, and maximum flexibility. Drawing from his experience with the Google Cloud Platform, VP of Engineering Andreas Heim will speak to the architecture of Unacast's platform and developer-focused processes.
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.