Perpetua Resources Corp. press release
GLEN EAGLE RESOURCES INC. ANNOUNCES HIGH GRADE PHOSPHATE FOUND AT LAC LISETTE
NASDAQ - Nasdaq Stock Market · Gold · Antimony · Silver · United States
(via Thenewswire.ca)
Montreal, Quebec, September 7, 2011 - Glen Eagle Resources Inc. (TSX VENTURE EXCHANGE: GER) ("Glen Eagle" or the "Company") is pleased to report the results of the channel sampling program on the Lac Lisette phosphate property. Grab samples from the Marianne zone collected at 0.5m vertical intervals from a rock cut face returned 12.5, 10.1, 9.67 and 8.83% P205 respectively. It is estimated that the thickness of the Marianne showing based on the exposure in the road cut is in excess of 150 metres. Of the six phosphate showings discovered so far at Lac Lisette, four have returned greater than 4% P2O5 over considerable widths while remaining open in all directions. Based on results reported by Arianne Resources (TSX Venture Exchange: DAN) it is believed that the grades should improve at depth as the two deposits are located in a similar geological environment.
A high percentage of the channel samples were taken on surface along the edges of the showings. Several of the more magnetic areas, containing higher grade phosphate, could not be channelled because of overburden cover. A more comprehensive exploration program will be undertaken at a later point in time to strip the overburden from the showings and continue the channel sampling work. The Company expects to have completed this summer seasons field work by the third week of September which should coincide with the beginning of the drilling program. The table below presents the results of the channel sampling program.
|Showing |% P2O5|Length (m)|Showing |% P2O5|Length (m)| | | | | | | | | | | | | | | |Isa |4.90 |1.5 |Marilyne|3.44 |4.6 | | |3.12 |2.0 | |3.00 |4.8 | | |2.79 |3.0 | |4.24 |1.8 | | |2.70 |13.0 | | | | | |3.46 |10.0 |Dana |3.08 |3.4 | | |3.93 |3.2 | |3.42 |3.9 | | |3.86 |2.1 | |5.21 |4.05 | | |4.03 |6.6 | | | | | | | | | | | |Marianne|3.85 |4.2 | | | | | |3.98 |3.1 |Sabrina |3.62 |4.4 | | |3.44 |6.2 | |3.64 |3.5 | | |5.86 |3.45 | |2.99 |7.5 | | |1.96 |2.8 | |3.37 |7.5 | | |3.12 |1.4 | |3.56 |12.5 | | |2.65 |1.4 | | | | | |3.60 |1.2 |Clémence|3.34 |2.25 | | |2.34 |3.2 | |3.03 |2.2 | | |3.60 |7.0 | | | | | | | | | | |
The channel samples were assayed at AGAT Laboratory using standard techniques for phosphate.
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
Tool free: 1-855-229-4488
Website: www.gleneagleresources.com
"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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