Recovery results for gold were 88.99% and 67.55% for silver, allowing the Company to nearly cover its operation cost despite a GPT of 1.93 g/Au per ton, demonstrating to our shareholders that the ramp up plan is working well despite processing low grade ore with limited throughput in October, which has been offset by improved efficiency at all level of Cobra Oro operations. Feed grade in November had already increased to approximately 3.7 g/Au per ton with continued focus in ramping up Cobra’s operations and working to develop joint venture agreements with local concession owners currently working with the Company.
The drilling results announced last week with both drill holes LE-21-002 intersecting on surface 3.04 g/Au over 30.8 meters and drill hole LE-21-001 returning 6.04 g/t Au over 8.2 meters, the Company can expect GPT to increase significantly, allowing Cobra Oro to become cash flow positive in the very near term.
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.”
Glen Eagle Resources Inc
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