The property, 100% owned by the Company, was acquired at no cost by engineering a swap between La Cobra and Piedra Dorada mining concessions, allowing Glen Eagle to relocate in a safe and friendly mining district that is currently providing the ore supply to Cobra Oro gold processing plant.
The concession is easily accessible all year long by the main road and covers 10 square kilometers of land located in the center of a 25 km wide corridor known to contain highly elevated gold values. http://gleneagleresources.ca/properties/
The corridor is aligned along a northeast-southwest that is parallel to several strong topographic lineaments. The trend is also accompanied by broad zones of intense alteration and extensive gold veins running throughout the area and along side Piedra Dorada. The links attached to this news release give an interesting view of the local geology and various mining activities in the vicinity of the property.
Rock samples taken at random by Cobra Oro employees from different open pit locations in the area regularly averaged 4 grams gold per ton based on the Company’s laboratory test results. The immediate task regarding Piedra Dorada will be to delineate large intrusion targets already identified by local miners and to sample visible showings on the concession.
For more details illustrating the strategic geographic location of the concession in relation to Cobra Oro gold processing plant, suppliers, open pit bulk sampling and artisanal workings, clink here: http://gleneagleresources.ca/properties/#PiedraDoradaMining
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, President
Glen Eagle Resources Inc
4710 St-Antoine Street, Suite 308