Perpetua Resources Corp. press release
GLEN EAGLE RESOURCES INC. ANNOUNCES 2.2 KILOMETER PEGMATITE HORIZON CONFIRMED ON AUTHIER
NASDAQ - Nasdaq Stock Market · Gold · Antimony · Silver · United States
Jul. 20, 2011 (TheNewswire.ca) --
Montreal, Quebec, July 20, 2011 - Glen Eagle Resources Inc. (TSXV:GER) (OOTC:GERFF) (TSX VENTURE EXCHANGE: GER)("Glen Eagle" or the "Company") confirms what was previously re ported in a press release dated January 5, 2011 stating that: "following the completion of a magnetometer survey and interpretation of historical drill holes, a new lithium bearing pegmatite horizon (never drilled before by the Company) extending over a length of 2.2 km was discovered on the Authier property."
The ongoing work currently taking place on the property has located on surface, after removing some overburden, several pegmatite showings along the 2.2 km horizon. The next drilling program on Authier will help determine if the pegmatite is bearing any spodumene which is the usual carrier of lithium. The Company hopes, by drilling the new zone, to reach its target of 10 million tons near surface in resources estimates. A total of 6.4 million tons (43-101 compliant) have been defined so far which do not include additional resources discovered during the latest 4,000 meter drilling program.
The 10 million mark is an important milestone because it will bring a 15 year mine life to the project with a mill capacity of 2,000 tons per day. A feasibility study is underway to study the economic viability of the Authier Lithium Project.
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
Glen Eagle Resources Inc
999 De Maisonneuve West
Suite 725
Montreal, Quebec
Tel: 514 938-4888
Website: www.gleneagleresources.com
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