ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

RMG Rainmaker Resources Ltd

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
Rainmaker Resources Ltd TSXV:RMG TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Rainmaker Mining Corp. Acquires Jayjay Lake Silica Sands Project, Saskatchewan

09/01/2014 12:45pm

Marketwired Canada


Rainmaker Mining Corp. ("Rainmaker") (TSX VENTURE:RMG) is pleased to announce
that it has entered into an Option Agreement with JCMP Management Corp. to
acquire a 3637 acre quarry permit on the Jayjay Lake silica sand project in
northern Saskatchewan. The terms of the acquisition are:




--  $10,000 on signing a Letter of Intent; 
    
--  $35,000 and 1,400,000 shares of Rainmaker on receiving all necessary
    approvals; 
    
--  1,000,000 shares of Rainmaker 18 months after the approvals are
    obtained; 
    
--  The vendor retains a 2% NSR. 



JCMP has an option to acquire the permit from the original permittee.

Rainmaker plans to commence exploration on the property with an extensive
sampling program, as soon as snow conditions permit.


Chris M. Healey, a Director of Rainmaker commented, "Rainmaker has targeted the
Frac Sands industry due to increasing demand, favorable economics and the
potential low capex nature of beach sand silica operations. The company feels
that this initial project is well suited to the turbulent nature of the current
minerals markets." 


In addition, the company is actively seeking other opportunities in related
products.


Jayjay Lk project:

The 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 92 Quarry Dispositions (3637
acres), for which a Quarry Permit has been 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 in the 1980s 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.


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,

Bev Funston, Director

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Rainmaker Mining Corp.
Bev Funston
Director
(604) 921-1810
(604) 921-1898 (FAX)
www.rainmakermining.com

1 Year Rainmaker Resources Ltd. Chart

1 Year Rainmaker Resources Ltd. Chart

1 Month Rainmaker Resources Ltd. Chart

1 Month Rainmaker Resources Ltd. Chart

Your Recent History

Delayed Upgrade Clock