Select Sands Corp. (OTCQX: SLSDF) is engaged within the development, extraction, and processing of silica sands. Shares of the silica sands mining company are jumping 16.78%, through afternoon trading on Thursday, April 13, 2017. Over the past month, Select Sands Corp. has seen average daily volume of 170,484 shares. However, volume of 267,424 shares or dollar volume of $361,022, has already exchanged hands on Thursday.
Shares of Select Sands Corp. are climbing today, after the company completed an inferred mineral resources report at its Bell Farm Property in Arkansas. The Bell Farm Property spans 457 acres and contains an estimated 49.6 million tons of resources, according to the report. Here is the full press release detailing of the inferred mineral resources report results:
Select Sands Corp. Press Release:
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Apr 13, 2017) – Select Sands Corp. (“Select Sands” or the “Company”) (TSX VENTURE:SNS)(SLSDF) is pleased to announce that the Company has completed a National Instrument 43-101 (“NI 43-101”) resources calculation on its Bell Farm Property (“Property”). The report dated April 4, 2017 was prepared by Elliott A Mallard, P.G. of KLEINFELDER, Jacksonville, FL, USA. The NI 43-101 Inferred Mineral Resources are 49,622,003 tons. A copy of the report will be filed under the Company’s profile on www.sedar.com.
The Bell Farm property covers 457 acres, has paved road access and available three-phase power. The new property is located about 2 miles northwest of the Company’s existing Sandtown project. Sandtown is currently producing finer mesh Northern White sand (40/70 and 100 mesh) and in February of 2016 completed a NI 43-101 resource calculation with 41.98 million tons of Indicated Mineral Resources (see February 10, 2016 news release – Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability).
Geology and Mineralization:
The deposit consists of the middle Ordovician-aged St Peter Sandstone, generally a massive bedded, medium- to fine-grained, well-rounded, friable, white sandstone. Forty (40) NQ diameter core holes have been drilled on the Property in three (3) separate drilling programs (October 2011, November 2012 and March/April 2014). Sieve analyses indicate a grain size distribution of 23.5% of 30/50 mesh, 48% of 40/70 mesh and 42.1% of 100 mesh (70/140 mesh)*. Average thickness of the sandstone on the Property is 48.9 feet (ranging from 1 foot to a maximum thickness of 108 feet on the Property). Samples submitted to Stim-Lab (a Core Laboratories Company) for quality analysis returned results that met or exceeded ISO 13503-2:2006/API RP19C:2008 standards.
*sum is greater than 100% due to overlap.
Zig Vitols, Select Sands Corp. President & CEO, stated, “With the increasing quantity of quality material becoming available to the Company, Select Sands has experienced major strides in a short period of time. The Bell Farm acquisition represents another milestone in building the foundation for the Company’s goal to become a top tier supplier of frac sand in the energy sector.”
Elliott A. Mallard, PG of Kleinfelder is the qualified person as per the NI-43-101 and completed the mineral resource estimate for the Bell Farm property and has reviewed and approved the technical contents of this news release.
Cautionary Note: Mineral resources that are not mineral reserves do not have demonstrated economic viability and there is no certainty that this preliminary economic assessment will be realized. The Company advises that the production decision on the Sandtown deposit referenced herein was not based on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that production will occur as anticipated or that anticipated production costs will be achieved. The Company further cautions that it’s previously disclosed preliminary economic assessment is preliminary in nature. No mining study has been completed. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that the preliminary economic assessment will be realized.
About Select Sands Corp.
Select Sands Corp. is an industrial Silica Product company developing its 100% owned, 520-acre Northern White, Tier-1, silica sands project located in Arkansas, U.S.A. Select Sands’ Arkansas property has a significant logistical advantage of being approximately 650 rail-miles closer to oil and gas markets located in Oklahoma, Texas, New Mexico, and Louisiana. The Tier-1 reference above is a classification of frac sand developed by PropTester, Inc., an independent laboratory specializing in the research and testing of products utilized in hydraulic fracturing & cement operations, following ISO 13503-2:2006/API RP19C:2008 standards.
Forward Looking Statements
This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Information and statements which are not purely historical fact are forward-looking statements. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.
For more information about Select Sands Corp., please visit www.selectsandscorp.com.
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.