VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 27, 2015) - Select Sands Corp (TSX VENTURE:SNS)(OTC PINK:CLICF) (the "Company") pleased to announce it has completed a drilling program covering approximately 95% of the Sandtown Silica Sands project.
The current drilling demonstrated uniformity and quality equivalence to the sandstone that was incorporated in the Company's inaugural Preliminary Economic Assessment (PEA) (See June 10, 2015 News Release). The samples from the current drilling have been submitted for analysis at Stim Lab of Oklahoma, USA. Upon the receipt of the results from the lab, the Company will release an updated resource estimate.
Drilling Highlights
- Largest intersection returned 131 feet of silica sand
- Average thickness of the sandstone in the drilling was 56.5 feet
- Sandstone intersected in 15 holes show consistent quality
A total of 15 of the 20 holes drilled intersected the targeted silica sand zone, while 4 holes to the southwest intersected a gravel/clay zone which is to be used to build haul roads on the property.
"We are pleased to know that rest of the property has similar potential to what has been previously drilled," commented Rasool Mohammad, President and CEO of Select Sands. "The average thickness of 56.5 feet of sand is very similar to our last program, indicating uniformity of the zone."
About Select Sands Corp.
Select Sands' Sandtown property, located in northeast Arkansas, USA, is underlain by the Ordovician St. Peter sandstone formation, which is a major source of 'Ottawa White' Tier-1 frac sand/industrial sand selling into major US oil and gas basins as well as industrial and speciality end markets. The Sandtown property is located 3.1 miles from Highway 167 near a natural gas pipeline. The property has an active power line on the property and is located approximately 14.7 miles from the nearest rail system (see December 4, 2014 News Release). Compared to competitive sand mines located in Wisconsin owned by the largest US frac sand producers, Sandtown has a competitive location advantage as it is approximately 650 rail miles closer to the Texas/Louisiana oil/gas plays as well as the Houston port and industrial hub.
As per recently completed report by Tetra Tech of Golden, Colorado, USA and Vancouver, BC, Canada, 40% of the Sandtown property contains 22 million tons of Indicated resources of silica sand with a pre-tax NPV valued at US $160 million (See June 10, 2015 News Release).The Company also owns high-grade gold deposit in the La Ronge Gold Belt, northern Saskatchewan.
Cameron Bartsch, M.Sc., P.Geo., of Tetra Tech, a Qualified Person as defined by National Instrument 43-101, has reviewed the scientific and technical information disclosed in this News Release.
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.
FORWARD-LOOKING INFORMATION
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. Such statements include statements regarding the anticipated completion of the proposed private placement. 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. The assumptions on which the forward looking statements contained herein rely include the ability to complete the financing on its proposed terms and the ability to receive regulatory approval for such financing. 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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state and may not be offered or sold within the United States absent such registration or an applicable exemption from such registration requirements.