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Glen Eagle Resources Inc.
Glen Eagle Resources Inc.
Registriert in: Kanada WKN: A0Q9R9 Rohstoffe:
Art: Originalaktie ISIN: CA3774561086 Gold
Kali & Phosphate
Heimatbörse: TSX Venture Alternativ: GERFF
Währung: CAD    
Symbol: GER.V Forum:

Glen Eagle Resources Inc.: First Results From The Ongoing Exploration Program at La Cobra

14.09.2017 | 17:53 Uhr | Marketwired

MONTREAL, QUEBEC--(Marketwired - Sep 14, 2017) - Glen Eagle Resources Inc. (TSX VENTURE:GER) ("Glen Eagle" or the "Company") is pleased to announce sample results from initial sampling at the La Cobra project in Honduras as well as at other sites important to Company production performance at the Cobra Oro CIL plant in Choluteca, Honduras.

Given the easy access from the western property entrance, samples were taken from the area which was the logical choice to start exploration sampling. "Historically, this area has produced lower grades compared to other mining areas within the 775 ha La Cobra Concession", said CEO Jean Labrecque, "however the consistency of values coming from a limited number of samples remains a promising indicator for future site exploration".

Sample Sample Type Property UTM Northing Easting Elevation Au Ag
No. Zone m m m g/t g/t
E5810406 Surface Grab Sample Unconsolidated Material La Cobra 16 P 435431 1494154 53 0.66 3.5
E5810407 1.2 m Vein Channel Sample True Width La Cobra 16 P 435419 1494199 58 4.51 3.6
E5810408 Grab Sample Alteration Zone La Cobra 16 P Under ground 58 0.98 2.2
E5810409 1.4 m Vein Channel Sample True Width La Cobra 16 P Under ground 58 0.30 2.3
E5810410 Dump Grab Sample Broken Rocks La Cobra 16 P 435457 1494185 34 8.23 7.6
E5810411 Certified Reference Sample OREAS 62e 9.17 10.2
E5810412 Dump Grab Sample Broken Rocks La Cobra 16 P 435482 1494194 38 2.50 6.3
E5810413 Artisanal Miner Dump Sample Client Site 16 P 504648 1470657 462 0.31 1.8
E5810414 Artisanal Miner Dump Sample Client Site 16 P 460771 1502674 95 4.93 77.4
E5810415 Artisanal Miner Dump Sample Client Site 16 P 460774 1502678 93 3.97 61.9

Each sample was comprised of approximately 5 to 7 kilos of rocks that were later pulverized and homogenized to be more representative of each area being sampled. The next sampling program will likely be conducted from the east side of the property where historical values are known for their better grade. Fully mapping and sampling accessible underground vein exposures will also become a priority for ongoing exploration.

Of interest are the results of sample E5810410, which returned 8.23 g/t gold and 7.6 g/t silver, sample E5810412, which returned 2.50 g/t gold and 6.3 g/t silver. These samples were from the mine, site of a historic past producing gold and silver mine in southern Honduras. Samples consisted of blocky vein material with no visible mineralization but with evidence of hydrothermal alteration and textures potentially indicative of a low-sulphidation epithermal gold/silver deposit style. Sample E5810409 was taken from surface in a small pit and contained some surface-derived soils as well as rock fragments. The underground rock samples were taken of vein footwall alteration as well as vein material. The paucity of gold in the vein sample underground together with the 4.51 g/t gold and 3.6 g/t silver in the same vein at the adit portal may suggest that a nugget effect exists.

Glen Eagle is planning a detailed exploration, definition, and resource quantification program for the mine dump and adjacent adits in the context of an NI 43-101 Technical Report, now underway.

Other samples received included E5810414 and E5810415, which returned gold values of 4.93 g/t and 3.97 g/t respectively with silver values of 77.4 g/t and 61.9 g/t respectively. These samples are from a dump site at another southern Honduras past-producing gold/silver operation.

Of interest at this client site is that the vein source of the dump material was crushed, but was not processed further. As a result, it does not have to undergo primary crushing at the Cobra Oro CIL plant and shipments can be unloaded straight into the fine ore bin.

One Certified Reference Material sample was inserted into the sample stream - OREAS 62e. The certified gold value for OREAS 62e is 9.13 g/t, with a standard deviation of 0.41 g/t. The received gold value for sample E5810411 was 9.17 g/t, well within the 95% confidence interval. The certified silver value for OREAS 62e is 9.86 g/t silver, with a standard deviation of 0.37 g/t (4-acid digestion). The received silver value for sample E5810411 was 10.2 g/t, within one standard deviation, but slightly outside the 95% confidence interval. Thus, these analyses from Agat Laboratories of Mississauga, Ontario, are deemed accurate in the analyses provided for gold and silver.

None of the samples showed anomalous concentrations of base metals.

Jim Steel, MBA P.Geo is the independent QP working on the La Cobra project. He has read and approved the technical content of this News Release.

"Neither 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." Values in the news release are quoted in Canadian dollars.


Glen Eagle Resources Inc.
Jean Labrecque

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