North America Frac Sand to Study Leases

North America Frac Sand Inc.’s David Alexander, CEO, confirmed that, as disclosed in previous news releases and filings in quarterly reports on Form 10Q and Form 8K, the company has engaged Norwest Corp. to complete a NI-43-101 report.

The purpose of the report is to evaluate the quantities and quality of the mineral resources on the company’s frac sand leases, which are located in Saskatchewan, Canada. Norwest was chosen because of their expertise to develop and optimize mineral projects. Norwest takes a comprehensive approach to help clients develop new ventures, Alexander said. They have expertise in all phases of project development from initial project planning through to the delivery of mineral products.

The company’s long-term frac sand leases are contiguous and cover over 39,000 acres. As part of the evaluation process, an auger drilling program of 35 drill holes and covering 700 acres, was completed. The samples taken from the drill holes were tested by independent labs.

The results of the test samples have been assessed and evaluated and the NI-43-101 report is in the process of being finalized. Upon receipt of the NI-43-101 report from Norwest, an 8K will be filed and a news release will disclose this information to the public, according to the company.

Related posts