Erdene Resource Development Corporation press release
Glen Eagle intercepts 54 meters phosphate (P205) grading 5.4% at Moose Lake
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(via Thenewswire.ca)
Montreal, Quebec, July 31, 2012 - Glen Eagle Resources Inc. (TSX VENTURE EXCHANGE: GER) ("Glen Eagle" or the "Company") is pleased to report the early results of the spring drilling program (18 holes in total at a depth of 100 meters) carried out on its Moose Lake project, located near highway 172, approximately 100 km north of Chicoutimi, Quebec.
The results of the first two holes are reported below.
|Hole # |From|To |Length|P205 | | |(m) |(m) |(m) |(%) | |LO 12-07|6 |47 |41 |5.6 | |incl |6 |35 |29 |6.2 | |incl |29 |34 |5 |6.9 | |incl |46 |47 |1 |11.5 | |LO 12-08|3.5 |57.5|54 |5.4 |
Thirteen holes were allocated to the zone "Lac Orignal" which has now been tested over 1 km representing half the length of its visible anomaly. The known width originally thought to be 75 meters has now been extended to 346 meters wide.
The newly discovered zone, "Lac Vanel" located approximately 5 km NE of "Lac Orignal" has been tested with five drill holes covering an area of 476 meters long by 70 meters wide.
The Company remains very confident about its upcoming results which will be released over the next two months as they become available from the laboratory.
The samples were prepared at the company's facility under the supervision of the field geologist by splitting the NQ core in two halves. One half of the core was bagged, tagged and sealed and delivered to AGAT Laboratories in Sudbury, ON, for sample preparation and to AGAT Laboratories main laboratory in Mississauga, ON, for analysis. The other half is kept for record. The samples were analyzed for all oxides using 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. AGAT Laboratories' Mining Division is accredited to ISO/IEC 17025 and CAN-P-1579 by the Standards Council of Canada (SCC). AGAT Laboratories internal quality control procedures include the regular analysis of replicate samples, reference materials and reference blanks.
The company has also implemented its own QAQC program for quality control. The company is using two analytical standards, a high and a low standard and blanks. Standards and blanks samples are alternatively inserted every 20 samples.
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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