GERFF - Glen Eagle: $6M Potential Windfall Using Cycladex Green Technology
(TheNewswire)
February 23, 2022 – TheNewswire- Glen Eagle Resources ( TSXV:GER) (OTC:GERFF) (“Glen Eagle” the“Company”, or “GER”) announced in a news release dated June15, 2021 that it was partnering with Cycladex to test anenvironmentally friendly technology that could better serve our miningsuppliers by addressing a broader spectrum of mining needs,accelerating our leach time and improving recovery without affectingCobra’s current operations.
Since then, the Company has remained in close contactwith Cycladex, while conducting a due diligence process to betterunderstand its technology. Tailing samples were sent recently to theirlaboratory for analysis. The ensuing results were excellent with anestimated 95% recovery or 1.5 grams gold per ton with a leach time ofless than two hours.
The samples were taken close to surface and the Companyis confident that 1.5 grams gold per ton is representative of theoverall average grade contained in the tailing. It is also in linewith regular sampling data collected over the years, including theinformation retrieved from nine drill holes conducted in tailing pondnumber three as part of the Company 2021 drilling program.
Cobra Oro gold processing plant was built and expandedto contain a total 50,000 tons of waste material based on theconstruction parameters of its three tailing ponds.
The numbers are quite significant as they wouldrepresent approximately $6M dollars of insitu recoverable gold with notoxic disposable byproducts, turning a liability into a potentialasset.
Cycladex’s technology has been performing well ondifferent type of ores and has been tested on batches of 20 tons andwill be running additional pilot testing at Cobra Oro’s plantsite.
The numbers quoted in this news release are based onin-house data and do not meet NI-43101 standards and can only berelied upon based on the information accumulated by the Company overthe years and on the assumption that the results obtained fromCycladex laboratory can be repeated on larger scale.
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.”
Jean Labrecque
Glen Eagle Resources Inc
2075 Victoria Street, Suite 201
St-Lambert, Quebec
J4S-1H1
514-808-9807
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