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Victory Nickel Announces Restart of Dry Plant at Seven Persons Frac Sand Operation,

21.03.2017 | FSCwire

Victory Nickel Announces Restart of Dry Plant at Seven Persons Frac Sand Operation,

Toronto, Ontario (FSCwire) - Victory Nickel Inc. (“Victory Nickel” or the “Company”) (CSE: NI, www.victorynickel.ca) today announced that due to increasing market demand for frac sand it has restarted the dry plant at its Seven Persons frac sand facility near Medicine Hat, Alberta (the “7P Plant”).

“We are beginning to see an increase in sand demand from both our existing customer base and new customers,” said Ken Murdock, CEO of the Company’s subsidiary Victory Silica Ltd. “As stated in our news release of February 23 we have been selling frac sand out of inventory at the 7P Plant to meet demand in addition to introducing a direct-to-customer shipping program out of Wisconsin.”

The Company is also looking at new growth opportunities that will allow it to expand and diversify its footprint in the growing North American frac sand market. According to New York based investment bank Cowen and Co., the US land rig count showed sequential growth of 24% in the first quarter of 2017 (up to March 17), following on a 24% increase during the fourth quarter of 2016. This continuing growth in rig count combined with increased high-intensity fracking that uses very high volumes of sand in a well completion leads Denver-based investment bank Headwaters MB to project that US proppant demand will increase to 50 million tons in 2017 from about 30 million tons in 2016.

About Victory Nickel

Victory Nickel Inc. is a Canadian company with four sulphide nickel deposits containing significant NI 43-101-compliant nickel resources and a significant frac sand resource at its Minago project. Victory Nickel is focused on becoming a mid-tier nickel producer by developing its existing properties, Minago, Mel and Lynn Lake (currently under option to Corazon Mining Ltd.) in Manitoba, and Lac Rocher in northwestern Québec. Through a wholly-owned subsidiary, Victory Silica Ltd., Victory Nickel has established itself in the frac sand business at its 7P Plant frac sand processing facility in Seven Persons Alberta prior to commencing frac sand production and sales from Minago.

Contact:

Victory Nickel Inc.
René Galipeau or Sean Stokes
Phone: 416.363.8527
Fax: 416.626.0890
Email: admin@victorynickel.ca
www.victorynickel.ca

Forward-Looking Information: This news release contains certain forward-looking information. All information, other than information regarding historic fact that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future is forward-looking information. The forward-looking information contained in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. The forward-looking information contained in this news release is subject to a number of risks and uncertainties that may cause actual results or events to differ materially from current expectations. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable law, the Company disclaims any obligation to update or modify such forward-looking information, either because of new information, future events or for any other reason. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Victory03212017.pdf

Source: Victory Nickel Inc. (CSE:NI)

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