Perpetua Resources Corp. press release
GLEN EAGLE CONFIRMS SIGNIFICANT PHOSPHATE MINERALIZATION ON LAC LISETTE PROJECT
NASDAQ - Nasdaq Stock Market · Gold · Antimony · Silver · United States
Jul. 12, 2011 (TheNewswire.ca) --
Montreal, Quebec, July 12, 2011 - Glen Eagle Resources Inc. (TSXV:GER) (OOTC:GERFF) (TSX VENTURE EXCHANGE: GER)("Glen Eagle" or the "Company") is pleased to announce that it has discovered two large phosphate-bearing layers on its property following recent prospecting and sampling programs.
During the past month, the Company has collected 159 grab samples. Many of these samples were selected at random over a 100 km2 area. The geochemical analytical results indicate 2 distinct phosphate-bearing mineralized layers. The Dana layer, covers a 6 km long anomaly with visible showings on surface as thick as 20 meters in some areas. The second layer, called the Sabrina layer, is located approximately 8 km NW of Dana.
The Dana layer was sampled at five different sites with the phosphate located in the nelsonite and ferro-gabbro units. A linear and continuous high magnetic anomaly hosts the 5 sampling sites.
The Sabrina layer was targeted by three additional sampling sites returning phosphate assays ranging between 3.36% and 3.92% (P205) and between 3.36% and 9.05% (Ti02). Each of the three sampling sites strongly correlate with a second linear high magnetic anomaly that can be followed over 10 km along strike.
While a large number of samples graded above 3% phosphate, the most significant assays are presented in the table below in decreasing (%) P205 order.
|Sample|Easting|Northing|P205 (%)|Ti02 (%)|Fe203 (%)| |583855|398850 |5576575 |9.86 |8,82 |47,2 | |41154 |395523 |5573392 |8.51 |9.05 |44.7 | |41034 |398870 |5576580 |7.64 |7,94 |38,4 | |41474 |398856 |5576543 |7.55 |9,99 |59,7 | |41027 |398900 |5576789 |7.15 |8,41 |44,3 | |41030 |399800 |5576345 |7.09 |8,25 |42,4 | |41151 |395868 |5573886 |7.04 |9.02 |45 | |583859|398850 |5576575 |6.87 |3,84 |19,5 | |41036 |399800 |5576540 |6.79 |6,45 |35,3 | |41083 |398848 |5576613 |6.81 |7.02 |56.2 | |583853|398850 |5576575 |6.75 |3,67 |30 | |41152 |395931 |5573894 |6.48 |7,20 |40,8 | |583851|398850 |5576575 |6.22 |7,9 |56,4 |
The Company is highly pleased with these early results. "What we are discovering on the Lac Lisette property at this early exploration stage is beyond our expectations" comments Jean Labrecque president of the Company.
Additional samples are currently being sent to the lab. The results will be released as they become available throughout the month of July until mid August. The drilling program will commence once the Company has received appropriate permitting possibly by early August.
Gilles Laverdière, P.Geo., a qualified person according to the NI 43-101 disclosure standards, is supervising the exploration program and has reviewed and approved the technical content presented herein.
FOR FURTHER INFORMATION CONTACT:
Jean Labrecque, President jl@gleneagleresources.com
Glen Eagle Resources Inc
999 De Maisonneuve West
Suite 725
Montreal, Quebec
Tel: 514 938-4888
Website: www.gleneagleresources.com
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