|By Marketwired .||
|January 20, 2014 08:30 AM EST|
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/20/14 -- Rainmaker Mining Corp. ("Rainmaker") (TSX VENTURE:RMG) is pleased to announce that it has entered into a Purchase and Sale Agreement to acquire two mineral claims in north central Saskatchewan, totaling approximately 10,275 hectares. Both claims have the potential to host deposits of silica sand suitable for hydraulic fracturing.
The terms of the acquisition are:
-- $10,000 on signing the Agreement; -- $25,000 on or before July 31, 2014; -- The vendor retains a 3% royalty on production.
Rainmaker plans to commence exploration on the properties with an extensive sampling program, as soon as snow conditions permit.
Chris M. Healey, Vice President - Operations for Rainmaker commented, "The acquisition of these two claims geographically complements our recently announced Jayjay Lake project."
The Mannville silica sand project is located in north-central Saskatchewan, approximately 40 km SSE of La Ronge, SK. Access is excellent with an all-season Province Road crossing the centre of the property. The property consists of one mineral claim (5,949.149 hectares). The property is underlain by a marine quartzose sandstone of Cretaceous Mannville age.
According to Saskatchewan Energy and Mines Open File Report 93-3, the Mannville Group in this location includes a 12-metre (approximate) thick clean silica sand containing 98.4 - 99.2% silica.
The Hanson silica sand project is located in north central Saskatchewan, approximately 90 km west of Flin Flon, MB. Access is excellent with Provincial Highway 106 cutting through the property. The property consists of one mineral claim (4,296.398 hectares).
The southern portion of the claim is interpreted to be underlain by predominantly unconsolidated orthoquartzites of the Ordovician Winnipeg formation. This is the same host formation for several nearby high quality frac sand operations which are either in production or currently being developed. These include Preferred Sands, which has an operating facility with an annual production capacity of 850,000 short tons per year, and Hanson Lake Sands Corp which has reported plans to be in production by the end of 2014.
Open File Report 93-3 comments that the Winnipeg Formation in the Hanson Lake area exhibit "a high degree of roundness and sphericity." Chemical analysis performed for the study gave silica contents ranging from 99.1% to 99.6%.
Additionally, it should be noted that both of these claims lie within the recently discovered Pikoo diamond camp.
Chris M. Healey, P.Geo, Vice President - Operations for Rainmaker, is the qualified person responsible for the technical content of this release.
On Behalf of the Board of Directors,
Rainmaker Mining Corp.
Neither the 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.
Rainmaker Mining Corp.
(604) 921-1898 (FAX)