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Claim Post Resources Inc
Symbol CPS
Shares Issued 118,019,160
Close 2014-10-20 C$ 0.09
Market Cap C$ 10,621,724
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Claim Post receives Seymourville exploration permit

2014-10-21 12:38 ET - News Release

Mr. Charles Gryba reports

CLAIM POST RESOURCES INC. GRANTED WORK PERMIT BY MANITOBA GOVERNMENT FOR LINE CUTTING AND SONIC DRILLING

Claim Post Resources Inc. has received a work permit from the Manitoba government that allows the company to engage in exploration activities on the quarry leases covering the Seymourville frac sand project located 200 kilometres northeast of Winnipeg, Man. The work permit is valid for one year.

Claim Post Resources is commencing a work program that includes 30 km of line cutting plus the drilling of 80 sonic drill holes. The program will be completed in several phases starting with the Gossan property. Three line-cutting crews of Seymourville and Hollow Water First Nation members are in the process of being hired. First aid and safety training programs have been scheduled, and the line-cutting program is expected to start within two weeks.

Sonic drilling will be scheduled to start several weeks after line cutting commences. Approximately 60 sonic holes will be drilled on 400-metre-by-400-metre centres with the goal of defining a global indicated resource tonnage for the entire property. An additional 20 sonic drill holes will be used to detail drill the initial 10-year mining area plus gather geotechnical and groundwater data. Geological consultant and sonic drill contractor quotes are being finalized.

Drilling at a rate of one 25-metre-deep sonic drill hole per shift requires a total of only about 40 days of actual drilling time. Claim Post will update the National Instrument 43-101 resource tonnage as sonic drilling proceeds. The final resource figure will be used in the production permitting -- mine closure process with the Manitoba government as well as to update the PEA (preliminary economic assessment) currently in progress.

Claim Post has recently announced an initial NI 43-101 inferred mineral resource estimate of 25 million tonnes of high-quality silica sand on approximately 20 per cent of the project licence area for the Seymourville frac sand project (SEDAR, June 20, 2014). The initial resource was based on 71 historical holes drilled mainly by Gossan Resources Inc. and the government of Manitoba, with the sand averaging 10.1 m thick in the area drilled by sonic drilling.

Claim Post has also recently announced that the Seymourville frac sand project has significantly exceeded API ISO Tier 1 frac sand specifications for 40/70, 50/140 and 70/140 frac sand (SEDAR, Sept. 25, 2014) with, for example, the PropTester 50/140 sand achieving a 10,000-pound-per-square-inch compressive strength, plus a roundness and sphericity of 0.8 and 0.8, respectively. A 120-kilogram sample bench-scale test is currently in progress to produce a complete set of frac sand size ranges for API ISO testwork, with a focus on the coarser 20/40-, 30/50- and 40/70-sized material. Conductivity testwork on the Sept. 25 samples is also currently in progress.

Charles Gryba, president and chief executive officer of Claim Post Resources, stated: "We are very encouraged by the progress made to date on the Seymourville project. The metallurgical testwork indicates that we are on track to produce a premium-quality Tier 1 frac sand and perhaps the best-quality frac sand in Canada. The 80-hole sonic drill program will give the global resource tonnage for the project. The quarry/processing plant engineering design plus the completion of the PEA in the fourth quarter will give Claim Post investors and oil analysts a good snapshot of the initial production rate, mine life, capex and operating cash flows."

Charles Gryba, PEng, is the company's qualified person for approving the scientific and technical content of this press release.

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