The added claims are well detailed in a geological report, including 1000 meters of drilling results with the best values grading as high as 10% phosphate. The acquisition of these new claims is in line with a news release dated March 29, 2022, stating that the Company is reevaluating its Moose Lake phosphate project due to a renewed interest in the sector, which has been recently described by Bloomberg News as one of the best growth sectors of the economy for the next 10 years.
The claims are an extension of Moose Lake to the north-west, encompassing a combined 60 square kilometers of land with approximately 9,000 meters of well documented drilling and geophysical data comprised in two geological reports written by qualified geologists.
The Company will release in due time additional data and information regarding the project, including the best options that have been brought forward by Glen Eagle’s management to maximize shareholders value by reinstating this high-quality asset.
Gilles Laverdiere, P.Geo and a Qualified Person under NI 43-101 has read and approved the technical content of this news release.
About Glen Eagle Resources
For more information, please contact:
Glen Eagle Resources Inc
2075 Victoria Street, Suite 201
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Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including with respect to the receipt of final approval of the Offering by the TSXV. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Corporation, including the timing and nature of all regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.