GERFF - Glen Eagle Resources Licenses Cycladex Innovative Technology
(TheNewswire)
MONTREAL – TheNewswire- June 16, 2021 -- Glen Eagle Resources Inc. (TSXV:GER) (OTC:GERFF) (or "the Company") is pleased to announce that it has signed anon-exclusive licensing agreement with Cycladex Ltd to test theirenvironmentally friendly technology delivering high yields and shortextraction times. The development of the technology was supported bythe National Science Foundation SBIR program and from investors in theUK. http://cycladex.com/
Cycladex uses anovel, patented chemical process to rapidly recover precious metals bycutting leach time from 30 hours to 6 hours on average. Developed byNobel Prize winner, Sir Fraser Stoddart, Director of the Center forthe Chemistry of Integrated Systems at Northwestern University, thisnew process has been proven easily adaptable to Cobra OroMerrill-Crowe operation in Honduras.
Throughpartnering with Cycladex, the Company will have the opportunitywithout affecting its current operations to test an environmentallyfriendly technology that could open new markets, better serve ourmining customers by addressing a broader spectrum of mining needs,accelerate our leach time and improve recovery on the test pad.
The cost to addthe new circuit has been estimated at $130,000 dollars, a relativelylow investment risk considering the potential benefits that theCompany could reap from the technology.
Glen Eagle willalso act as Cycladex’s distributor in Honduras and will be able todemonstrate to new customers the Cycladex process once the new circuithas been completed and is up and running.
Glen Eagle hasbeen in talks with Cycladex for almost ten months from the beginningof its due diligence process to the signing of the currentagreement.
Neither TSX Venture Exchange nor its Regulation ServiceProvider (as that term is defined in policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisrelease.
Jean Labrecque, President
Glen Eagle Resources Inc
2075 Victoria Street, Suite 201
St-Lambert (Quebec)
Tel: 514 808 9807
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