GERFF - Glen Eagle Resources Corporate Update
(TheNewswire)
Montreal, Quebec - TheNewswire- October 19, 2020 - Glen Eagle Resources Inc. ( TSXV:GER) ("GlenEagle" or the "Company") reports that Cobra Oro, awholly owned Honduran subsidiary of Glen Eagle, has completed 500meters of drilling and has another 1500 meters left to fulfill itsprogram. Drilling was stopped two weeks ago due to the conditions andrisks caused by the aftermath of hurricane Nana which have beenworsened lately by one the of rainiest season on record. Drilling willresume in early November coinciding with the beginning of dry seasonin Honduras. High grade targets have been identified and the Companyremains very confident towards the end results of its 2000 metersdrilling program.
Meanwhile, a team of people under the supervision of alocal geologist has been working on Piedra Dorada, a concession fullyowned by Cobra Oro. More than 20 grab samples were taken at randomover a surface covering approximately 4 square kilometres. Traces ofgold were found in almost every sampling results with two samplesreturning 3.2 and 4.0 g/t Au. The results came from Cobra Oro'slaboratory, a procedure regularly done for guidance and in-houseinformation within its own constrains as the laboratory is notaccredited under ISO 17025.
In terms of production throughput, the Company has gonethrough two difficult quarters having to deal with three consecutivemonths of total lock down from May through July due to the pandemic.During the period, the Company exported $360,000 dollars worth ofgold. The plant was placed on care and maintenance in early Octoberdue to mud slides which have made transportation impossible for ourproviders. Production is scheduled to restart on November10 th along with drilling.
The technical content of this news release has beenreviewed and approved by Mr. Gilles Laverdiere, P.Geo, consultinggeologist, a qualified person under National Instrument 43-101.
"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." Values in the news release are quoted inCanadian dollars.
Jean Labrecque, President
Glen Eagle Resources Inc
2075 Victoria Street, Suite# 201
St-Lambert (Quebec)
J4S 1H1
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