Jul 17 2014
Rainmaker Resources Ltd. ("Rainmaker") is pleased to announce that it has agreed in principle to acquire three additional Quarry Permits (QPP154, 155 and 156) covering an additional 1280 acres (~ 518 hectares) located adjacent to the company's Jayjay Lake property in North-Central Saskatchewan, from JCMP Management Corp.
The terms of the agreement will provide that the company can acquire a 100% interest in and to the Quarry Permits for CAN $37,440 and 300,000 fully paid and non-assessable shares of Rainmaker subject to formal documentation and the agreement being accepted for filing by the TSX Venture Exchange.
The company will immediately commence a sampling program to evaluate the potential of the permits in conjunction with the present exploration program currently being undertaken on the Jayjay lands.
Rick Patmore, President and CEO of Rainmaker commented, "this acquisition is very exciting for Rainmaker as it adds another 1280 acres (~ 518 hectares) to our already existing inventory of Frac Sand inventory. This will give Rainmaker just under 5,000 acres (~ 2023 hectares) of lands with Frac Sands potential which could mean a considerable life span for a mining operation."
Jayjay East Project:
The East Jayjay silica sand project is located in north-central Saskatchewan, approximately 185 km north-east of Prince Albert SK, and 150 km west of Flin Flon MB. Access is excellent with an all-season Province Road crossing the centre of the property. The property consists of three Quarry Permits (1280 acres/518 hectares), issued by the Government of Saskatchewan.
The sand deposit lies at surface and consists entirely of beach sand from the shores of glacial Lake Agassiz. This lake covered much of the central Prairies until approximately 10,000 years before present. Wave action on the beaches has resulted in clean, well-rounded sand grains, which may be suitable for hydraulic fracturing. The sand is derived from a marine quartzose sandstone horizon in the Cretaceous Manville formation.
Previous work has confirmed the presence of this potential high quality sand. At that time, the markets were limited, and the selling prices were much lower than today.
About Rainmaker:
Rainmaker Resource Corp., a well rounded frac sand company, has acquired frac sand assets in Canada and the United States: Jayjay Lake project in north-central Saskatchewan and The Bray Property in Arkansas. Both projects have excellent access to key infrastructure and are close to existing frac sand producers.
Rainmaker is focused on the development, acquisition, and exploration of Western Canadian proppant projects with the goal of being amongst the lowest cost producers. Proppant or frac sands are used in unconventional oil and gas production from tight shale formations. This special sand is used to provide a pathway for hydrocarbons to flow by propping open fractures. Wells are being drilled deeper and more hydraulic fractures placed, therefore, the demand for frac sand will continue increasing.
Chris M. Healey, P.Geo, a Director of Rainmaker, is the qualified person responsible for the technical content of this release.
On behalf of the Board of Directors
Rick Patmore, President and CEO, Rainmaker Resources Ltd.
For additional information, you may visit the company website at: https://www.rainmakerresourcesllc.com/. The company's profile may also be viewed on https://www.sedar.com/homepage_en.htm
Source: https://www.rainmakerresourcesllc.com/