Perpetua Resources Corp. press release
GLEN EAGLE RESOURCES INC. ANNOUNCES NI 43-101 COMPLETED ON AUTHIER
NASDAQ - Nasdaq Stock Market · Gold · Antimony · Silver · United States
Apr. 4, 2011 (TheNewswire.ca) --
Montreal, Quebec, April 4, 2011 - Glen Eagle Resources Inc. (TSXV:GER) (OOTC:GERFF) (TSX VENTURE EXCHANGE: GER)("Glen Eagle" or the "Company") is pleased to announce the completion and release of a NI 43-101 compliant report for the Authier Lithium project. The report filed on SEDAR confirms the resource estimate stated in a previous press release dated February 15, 2011.
The author (SGS Canada Inc) considers the Project to be sufficiently robust based on the possibility to define mineral reserves for a potential open pit mining operation. Some of the recommendations were amongst others: 1) to validate the historical recovery rate and concentrate grade reported in the metallurgical tests conducted in 1999 by the CNRS (Centre National de Recherche Scientifique), 2) to refine the concentration flowsheet using the latest metallurgical technologies, 3) to update the 2001 pre-feasibility study using the new NI 43-101 compliant mineral estimate, and 4) to carry out a baseline environmental study.
To advance the project, the author suggests, 1) conducting additional drilling to potentially increase the quantity and increase the confidence level of the current mineral resource, 2) proceeding to perform additional metallurgical studies to better characterize the spodumene mineralization's grinding and concentration parameters using the latest metallurgical technologies, and 3) completing an economic evaluation of the Project for a potential open pit mining operation.
It should be noted that the results of the latest 4,000 metre drilling program completed last week were not incorporated in the report.
We are pleased, says Jean Labrecque president of Glen Eagle, that such a reputable company as SGS Canada was able to confirm that the Authier Lithium project remains robust based on the potential for an open pit mining operation. Our shareholders should be equally pleased that the Company was able to achieve this milestone with the least possible dilution to its overall share structure.
Gilles Laverdière, P.Geo., a qualified person according to the NI 43-101 disclosure standards has reviewed and approved the technical content presented herein.
FOR FURTHER INFORMATION CONTACT:
Jean Labrecque, President jl@gleneagleresources.com
Glen Eagle Resources Inc
999 DeMaisonneuve West
Suite 725
Montreal, Quebec
Tel: 514 938-4888
Website: www.gleneagleresources.com
François Marcotte
Consultant & Investors Relations
Tel: 450-536-0279
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