Click here to close now.

SYS-CON MEDIA Authors: Elizabeth White, Liz McMillan, Carmen Gonzalez, AppDynamics Blog, Roger Strukhoff

News Feed Item

Victory Mountain Acquires Alberta Frac Sand Property

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/14/14 -- Victory Mountain Ventures Ltd. (TSX VENTURE:VMV) ("Victory") announces that it has entered into an option agreement (the "Agreement"), subject to the approval of the TSX Venture Exchange, whereby it may earn a 100% interest in 8 Metallic and Industrial Minerals Permits totalling approximately 737 square kilometres (73,728 hectares; the "Property"), which is located west of Fort McKay, in the prolific Fort McMurray area of northeastern Alberta. Frac sand is actively being sought out and mined in Alberta to meet growing demand, with particular interest in abundant silica sand associated with the Paddy and time equivalent Pelican formations in Northern Alberta. The Pelican Formation is known to crop out or underlie the Property as identified in preliminary work.

The property is served by a network of all-weather roads serving the oil and gas industry. Approximately 95 km of all-weather roads link the property to Fort McMurray and an active rail line. Preliminary review of extensive oil and gas well drilling in the Property area has outlined Pelican sand thicknesses of up to 50 plus metres, which will be the focus of exploration. The sand is near to and in some areas exposed at surface, which will facilitate affordable exploration costs and upcoming operational logistics.

Consulting Geologist Mike Dufresne commented, "Future evaluation of the frac sand potential of the Property is warranted given: the proximity of several Steam-Assisted Gravity Drainage operations in the Property area; the developing infrastructure associated with oil sands growth adjacent to and on the Property; and an increasing number of tight oil and gas plays in Alberta and neighboring provinces/territories."

Director Patrick Morris commented, "The shale gas industry in Western Canada is in its infancy. We are very pleased to take the first step towards becoming one of the first TSX-V listed companies to become suppliers of frac sand in Canada. Currently 90 percent of frac sand used in the Canadian oil and gas industry (approximately 3.5 million tons per year) comes from the Midwestern United States. We believe there is a strong economic future in this sector, and therefore for our shareholders in producing a domestic supply in Canada."

"Frac sand" is high-purity quartz silica sand with very durable round grains. It is a crush-resistant material produced for the petroleum industry. It is used in the hydraulic fracturing process known as "fracking" to aid in the flow of oil, natural gas and natural gas liquids. Frac sand is also referred to as a "Proppant" because it props the fractures open to allow easier flow of oil and gas.

Pursuant to the terms of the Agreement, Victory will pay a cumulative amount of $40,000 cash, issue 2,500,000 common shares and incur a minimum of Exploration Expenditures of $350,000 over a two year period. The Property will also be subject to a 1% gross overriding royalty. Finder's fees, as allowed pursuant to the policies of the TSX Venture Exchange, may be payable in connection with this acquisition.

Victory Mountain Ventures Ltd. (TSX VENTURE:VMV) is a Junior Exploration Company based in Western Canada. The Company has interests in Frac Sand, Copper, Gold, Silver, Molybdenum and other base metals in Canada.

Technical information in this news release has been prepared and/or revised by Mike Dufresne, P.Geol., a qualified person as defined in NI 43-101.

On Behalf of the Board of Directors

VICTORY MOUNTAIN VENTURES LTD.

Charles Desjardins, President and Director

"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."

Cautionary note:

This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. The production rate and mine-life projections have been made without support of a feasibility study, there is no certainty the proposed operations will be economically viable. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impac...
Wearable devices have come of age. The primary applications of wearables so far have been "the Quantified Self" or the tracking of one's fitness and health status. We propose the evolution of wearables into social and emotional communication devices. Our BE(tm) sensor uses light to visualize the skin conductance response. Our sensors are very inexpensive and can be massively distributed to audiences or groups of any size, in order to gauge reactions to performances, video, or any kind of present...
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. 8th International Big Data Expo, co-located with 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. As advanced data storage, access and analytics technologies aimed at handling high-volume and/or fast moving data all move center stage, aided by the cloud computing bo...
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Every day we read jaw-dropping stats on the explosion of data. We allocate significant resources to harness and better understand it. We build businesses around it. But we’ve only just begun. For big payoffs in Big Data, CIOs are turning to cognitive computing. Cognitive computing’s ability to securely extract insights, understand natural language, and get smarter each time it’s used is the next, logical step for Big Data.
There's no doubt that the Internet of Things is driving the next wave of innovation. Google has spent billions over the past few months vacuuming up companies that specialize in smart appliances and machine learning. Already, Philips light bulbs, Audi automobiles, and Samsung washers and dryers can communicate with and be controlled from mobile devices. To take advantage of the opportunities the Internet of Things brings to your business, you'll want to start preparing now.
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developmen...
In a world of ever-accelerating business cycles and fast-changing client expectations, the cloud increasingly serves as a growth engine and a path to new business models. Dynamic clouds enable businesses to continuously reinvent themselves, adapting their business processes, their service and software delivery and their operations to achieve speed-to-market and quick response to customer feedback. As the cloud evolves, the industry has multiple competing cloud technologies, offering on-premises ...
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the...
Over the years, a variety of methodologies have emerged in order to overcome the challenges related to project constraints. The successful use of each methodology seems highly context-dependent. However, communication seems to be the common denominator of the many challenges that project management methodologies intend to resolve. In this respect, Information and Communication Technologies (ICTs) can be viewed as powerful tools for managing projects. Few research papers have focused on the way...
As the world moves from DevOps to NoOps, application deployment to the cloud ought to become a lot simpler. However, applications have been architected with a much tighter coupling than it needs to be which makes deployment in different environments and migration between them harder. The microservices architecture, which is the basis of many new age distributed systems such as OpenStack, Netflix and so on is at the heart of CloudFoundry – a complete developer-oriented Platform as a Service (PaaS...
In high-production environments where release cycles are measured in hours or minutes — not days or weeks — there's little room for mistakes and no room for confusion. Everyone has to understand what's happening, in real time, and have the means to do whatever is necessary to keep applications up and running optimally. DevOps is a high-stakes world, but done well, it delivers the agility and performance to significantly impact business competitiveness.
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises a...
Hybrid IT is an approach to delivering IT services that matches business requirements and application needs with different IT deployment modalities. In their session at 16th Cloud Expo, Jeff Katzen, Director of the Cloud Practice at CenturyLink, and Gary Sloper, Area Vice President, Sales Engineering and Operations, at CenturyLink, will go into more depth around those different modalities and how customers have made decisions to choose between them. They will talk to some of the challenges t...
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...