RENO, Nev.--(BUSINESS WIRE)--Brilliant Sands Inc. (“BSI” or the “Company”) (formerly Consolidated Goldfields Corporation: CDGF) is pleased to announce it has initiated a comprehensive exploration program at its McClelland Lake frac sand project in Alberta, Canada. The Company considers McClelland its highest priority and most advanced project within the frac sand portfolio that was recently acquired from 1824455 Alberta Ltd. BSI is in the process of compiling a comprehensive technical database and plans to begin field work this coming spring. In addition, the Company will soon be preparing and announcing exploration plans for its other new properties.
About Frac Sand - Frac sand is a specific type, size and shape of high purity silica sand that is crush-resistant under the high pressures as encountered in oil and gas wells. This high quality sand is used in the hydraulic fracturing (“fracking”) of tight, non-permeable, hydrocarbon-bearing basin rocks that are typically composed of shale. The United States is the world leader in this innovative process, and as a result, is now virtually oil self-sufficient and a prolific natural gas producer.
Even with the recent downturn in oil prices, the average increase from 850 tons per well to over 2000 tons per well has resulted in little, if any, reduction in the demand for frac sand. North American frac sand demand has risen from $250 million in 2002 to nearly $5 billion in 2012. Overall, North American demand is projected to reach over 100 billion pounds by the year 2017, with a projected value of $9.4 billion.
Property Location, Accessibility and Infrastructure - The McClelland Lake frac sand project is located approximately 95 km northeast of Fort McMurray, Alberta, Canada, the industrial hub of the world-renowned Athabasca oil sands district. The disposition itself consists of three Alberta Metallic and Industrial Mineral Permits encompassing a total area of 65,789 acres (26,624 hectares), which are well situated geographically between Athabasca Minerals' (TSX-V: ABM.V) Firebag Frac Sand Project and Declan Resources' (TSX-V: LAN) Firebag River silica sand discovery. Athabasca recently announced a 43-101 compliant inferred resource of 44 million tonnes of frac sand, and is in the process of completing a Preliminary Economic Assessment.
Accessibility and supporting infrastructure are excellent. Fort McMurray is accessible by paved highway and is well-served by regularly scheduled commercial flights from several Canadian international airports, including Edmonton and Calgary. An all-weather road extends from Fort McMurray to within 10 km of the western edge of property, in turn connecting to an extensive network of existing 'bush roads', cut lines and ATV trails which cover a significant portion of the property. Future development potential is enhanced by the presence of an existing 72 kilovolt transmission line which crosses the northwest block of the property and existing industrial-scale railhead at Fort McMurray.
Geology and Preliminary Results - Given the favorable geographic location of the McClelland Property, there are two potential frac sand deposit types under investigation: the first being Quaternary-aged glaciofluvial and eolian sand deposits of a type similar to that discovered by Athabasca Minerals; and the second consisting of Cretaceous-aged sandstones of the McMurray Formation, analogous to that reported by Declan Resources.
A preliminary field reconnaissance of northwestern portions of the property in 2014 confirmed the presence of silica-rich sands of glaciofluvial origin. Samples collected during reconnaissance were submitted to Loring Labs of Calgary, Alberta, Canada for analysis, which indicated very favorable results remarkably similar to those reported for Athabasca's frac sand deposit that lies only a few miles to the northwest of the sampled area. Based upon the encouraging results of the reconnaissance program; a comprehensive exploration plan has been initiated, details of which will follow in a subsequent news release.
About Brilliant Sands Inc. or Consolidated Goldfields Corporation
Brilliant Sands Inc. or Consolidated Goldfields Corporation is an exploration stage company engaged in the acquisition, exploration and development of mineral properties. The Company currently owns or controls a 100% interest in eight properties located in Nevada of which two are under exploration including the Fisher Canyon and Klondike Pass projects. The Company also owns 100% of the Muskox Intrusion Data Inventory. The Muskox Intrusion hosts one of the world’s largest concentrations of copper, nickel and platinum group metals and is located in Nunavut, Canada. The Company recently acquired the mineral rights to three strategically located frac sand properties in Alberta and Manitoba, Canada. Consolidated Goldfields has filed a Notification Form with FINRA to change the Company name to Brilliant Sands Incorporated which will become effective on March 15, 2015.
Except for the historical information contained herein, certain matters discussed in this press release are forward-looking statements which involve risks and uncertainties. These forward-looking statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties which could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking statements can be identified by, among other things, the use of forward-looking language, such as the words “plan,” “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project,” “may,” “will,” “would,” “could,” “should,” “seeks,” or “scheduled to,” or other similar words, or the negative of these terms or other variations of these terms or comparable or similar language, or by discussion of strategy or intentions. Such forward-looking statements include, without limitation, statements regarding future business strategy, plans and goals and other statements that are not historical facts. Forward-looking statements address activities, events or developments that the Company expects or anticipates will or may occur in the future, and are based on current expectations and assumptions. Although management believes that its expectations are based on reasonable assumptions, it can give no assurance that these expectations will prove correct. The Company does not intend to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws. A copy of the Company's report for the year ending December 31, 2013 can be found on the OTC Pink marketplace website at www.otcmarkets.com.