Glen Eagle Resources Inc.: Update on the Company's Project in Nicaragua
22 May 2014 - 12:00AM
Marketwired
Glen Eagle Resources Inc.: Update on the Company's Project in
Nicaragua
MONTREAL, QUEBEC--(Marketwired - May 21, 2014) - Glen Eagle
Resources Inc. (TSX-VENTURE:GER) ("Glen Eagle" or the "Company") is
pleased to announce that it has done a significant amount of lab
and field tests to better understand the recovery process of its
tailings. Six hundred tons have been processed to that effect over
the last six weeks. Testing has always been part of a normal
process in mining to select the right equipment and meet certain
milestones to achieve the best recovery possible.
The company has opted to use a gravity system to reach its
objective of recuperating 70% of the gold. The method will allow
the project to remain environmentally friendly and keep its capital
expenditures to a minimum. Sandgold has purchased approximately
1000 tons of tailings to comply with certain contract requirements
with the La Libertad and Santo Domingo Coops. The lab results
confirmed that the grades contained in the purchased tailings have
a close correlation with the ones described in the 43-101 report
which indicated a resource estimate of 67,000 tons grading 5.3
grams. The confidence level on "grade" has therefore increased
substantially. In-house data accumulated over the last five months
through surveying and additional lab results tend to indicate a
considerably larger tonnage than previously stated although this
information was not validated 43-101.
In this global perspective, Sandgold remains more confident than
ever to make the La Libertad Project a successful business venture
in Nicaragua and has acquired the know-how over the last six weeks
to meet its goal.
"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."
Jean Labrecque, PresidentGlen Eagle Resources Inc.Toll free:
1-855-229-4488Website: www.gleneagleresources.com
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