Erdene Resource Development Corporation press release
Glen Eagle Resources Inc. New Phosphate Discovery on Moose Lake
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(via Thenewswire.ca)
Montreal, Quebec, June 06, 2012 - Glen Eagle Resources Inc. (TSX VENTURE EXCHANGE: GER) ("Glen Eagle" or the "Company") is pleased to report that a new phosphate discovery called Lac Vanel was made on the Company's wholly owned Moose Lake property in Quebec.
The Lac Vanel anomaly was discovered from a surface channel sampling program which returned 4.92% P2O5 over 2 m, 5.16% over 1 m and 3.38% over 1 m. The channels were done over different sections of the anomaly and covered approximately a surface area of 6,000 square meters. The magnetic map shows that the Lac Vanel anomaly may extend over several km long.
More samples are currently being collected from two different zones to better position the overall drill program. The first zone (Lac Orignal) covers an area of 2 km long by 300 meters wide. The the second zone (Lac Vanel) and its size remain to be defined.
This new data is very encouraging and perhaps even more so based on the fact that the Moose Lake project is strategically located near Chicoutimi and its industrial infrastructures.
Results from the latest sampling and channel sampling program are reported in the grid below.
|Samples #|Length |P205 |Location | | |(m) |(%) | | |E5195561 |Grab sample|5.13 |Lac Orignal| |E5195564 |1 meter |3.38 |Lac Vanel | |E5195565 |1 meter |4.87 |Lac Vanel | |E5195566 |1 meter |4.97 |LacVanel | |E5195567 |Grab sample|5.23 |Lac Vanel | |E5195568 |1 meter |5.16 |Lac Vanel |
The samples were prepared under the supervision of the field geologist. The samples were bagged, tagged, sealed and delivered to AGAT Laboratories in Sudbury, ON, for sample preparation and to the main laboratory in Mississauga, ON, for analysis. The samples were analyzed for all oxides using lithium AGAT Laboratories' lithium borate fusion method (AGAT Analysis Code 201076) and ICP-OES finish, summation of all oxides with an assay range of 0.005 to 100% P2O5.
Gilles Laverdiere, P.Geo., a qualified person according to the NI 43-101 disclosing standards, is supervising the drilling program and has reviewed and approved the technical content presented herein.
Jean Labrecque, President
Glen Eagle Resources Inc
999 De Maisonneuve West
Suite 725
Montreal, Quebec
Toll free: 1-855-229-4488
Website: www.gleneagleresources.com
FOR FURTHER INFORMATION, CONTACT:
Investors Relations
Louis Morin
514-845-1101
"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."
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