Glen Eagle Resources Reports Weighted Average Tailings Assays of 5.12 G/T

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Glen Eagle Resources Reports Weighted Average Tailings Assays of 5.12 G/T

posted on Aug 27, 2013 09:57AM

Gold from the La Libertad/Santo Domingo Tailings Project, Nicaragua

.

tnw

(via Thenewswire.ca)

Glen Eagle
Resources Inc. (Montreal, QC, August 27, 2013;
TSX VENTURE EXCHANGE: GER) ("Glen Eagle" or the "Company")
is pleased to announce assay results from 12 areas of tailings deposition in the villages of La Libertad, Chontales, Nicaragua and Santo Domingo, Chontales, Nicaragua. A total of 32 areas were examined with an auger sampling program incorporating 93 separate auger holes. The 12 areas herein described incorporate a total of 26 of these auger holes totaling 42.40m. The auger program was designed to study the occurrence of free gold, relict sulphides, and relict gold-bearing mercury left in the tailings as a result of the gold amalgamation process in use in La Libertad and Santo Domingo. Results (Table 1; below) show that the weighted average values for the Areas herein described are 5.12 g/t gold, 11.38 g/t silver, and 12.22 g/t mercury from the 47 samples taken from the auger holes.

Table 1: Auger Hole Weighted Average Assay Results from La Libertad, Nicaragua

----------------------------------------------------------------------
|Area |HoleID|Depth (m)*|Au (g/t)|Ag (g/t|Hg (g/t)|
|--------------------------------------------------------------------|
|Area 1 ? 3 holes |01-1 |1.75 |2.56 |15.14 |13.16 |
|--------------------------------------------------------------------|
| |01-2 |1.95 |2.60 |14.60 |15.59 |
|--------------------------------------------------------------------|
| |01-3 |1.00 |2.37 |7.74 |7.72 |
|--------------------------------------------------------------------|
|Weighted Average Area 1 | | |2.51 |12.49 |12.16 |
|--------------------------------------------------------------------|
| | | | | | |
|--------------------------------------------------------------------|
|Area 3 ? 1 hole |03-1 |1.45 |5.66 |36.60 |13.64 |
|--------------------------------------------------------------------|
| | | | | | |
|--------------------------------------------------------------------|
|Area 4 - 1 hole |04-1 |2.60 |3.91 |4.11 |8.64 |
|--------------------------------------------------------------------|
| | | | | | |
|--------------------------------------------------------------------|
|Area 7- 2 holes |07-1 |2.20 |6.55 |4.73 |16.20 |
|--------------------------------------------------------------------|
| |07-2 |1.00 |5.59 |9.18 |11.71 |
|--------------------------------------------------------------------|
|Weighted Average Area 7 | | |6.07 |6.96 |13.96 |
|--------------------------------------------------------------------|
| | | | | | |
|--------------------------------------------------------------------|
|Area 11 ? 6 holes |11-1 |1.00 |2.61 |2.88 |5.83 |
|--------------------------------------------------------------------|
| |11-2 |1.80 |5.21 |7.31 |11.29 |
|--------------------------------------------------------------------|
| |11-3 |1.40 |3.50 |5.37 |9.96 |
|--------------------------------------------------------------------|
| |11-4 |1.50 |2.22 |2.82 |4.91 |
|--------------------------------------------------------------------|
| |11-5 |2.05 |3.73 |52.96 |14.62 |
|--------------------------------------------------------------------|
| |11-6 |2.00 |6.69 |2.53 |18.11 |
|--------------------------------------------------------------------|
|Weighted Average Area 11| | |3.99 |12.31 |10.79 |
|--------------------------------------------------------------------|
| | | | | | |
|--------------------------------------------------------------------|
|Area 12 - 1 hole |12-1 |2.23 |8.67 |15.93 |26.73 |
|--------------------------------------------------------------------|
| | | | | | |
|--------------------------------------------------------------------|
|Area 13 ? 1 hole |13-1 |0.90 |8.38 |11.99 |12.09 |
|--------------------------------------------------------------------|
| | | | | | |
|--------------------------------------------------------------------|
|Area 17 ? 2 holes |17-1 |2.60 |2.83 |2.89 |9.11 |
|--------------------------------------------------------------------|
| |17-2 |3.05 |4.75 |4.34 |17.21 |
|--------------------------------------------------------------------|
|Weighted Average Area 17| | |3.79 |3.62 |13.16 |
|--------------------------------------------------------------------|
| | | | | | |
|--------------------------------------------------------------------|
|Area 22 ? 1 hole |22-1 |1.05 |2.39 |1.98 |7.92 |
|--------------------------------------------------------------------|
| | | | | | |
|--------------------------------------------------------------------|
|Area 23 ? 2 holes |23-1 |0.65 |4.89 |9.14 |18.34 |
|--------------------------------------------------------------------|
| |23-2 |2.00 |6.98 |17.84 |22.22 |
|--------------------------------------------------------------------|
|Weighted Average Area 23| | |5.94 |13.49 |20.28 |
|--------------------------------------------------------------------|
| | | | | | |
|--------------------------------------------------------------------|
|Area 24 ? 2 holes |24-1 |1.05 |3.56 |4.49 |6.41 |
|--------------------------------------------------------------------|
| |24-2 |0.50 |3.18 |2.66 |5.65 |
|--------------------------------------------------------------------|
|Weighted Average Area 24| | |3.37 |3.58 |6.03 |
|--------------------------------------------------------------------|
| | | | | | |
|--------------------------------------------------------------------|
|Area 25 ? 2 holes |25-1 |2.30 |5.13 |10.49 |6.52 |
|--------------------------------------------------------------------|
| |25-2 |1.50 |11.34 |26.72 |12.05 |
|--------------------------------------------------------------------|
|Weighted Average Area 25| | |8.24 |18.61 |9.29 |
|--------------------------------------------------------------------|
| | | | | | |
|--------------------------------------------------------------------|
|Area 27 ? 2 holes |27-1 |1.40 |4.23 |7.67 |3.71 |
|--------------------------------------------------------------------|
| |27-2 |1.47 |3.15 |4.83 |4.69 |
|--------------------------------------------------------------------|
|Weighted Average Area 27| | |3.69 |6.25 |4.20 |
----------------------------------------------------------------------

*Depths indicated are the minimum thickness of tailings piles.

Areas 1 to 29 are individuals owning lots in or close to La Libertad where tailings are found in discrete quantities. The number of auger holes varies per area, and depends on the lateral and vertical extent of tailings that can be easily sampled and for which a hole spacing of at least five metres is possible. Areas 30 to 32 are in or close to the village of Santo Domingo. Data for the remaining 19 areas, incorporating the remaining 68 drill holes, is awaited, and will be released when received and analyzed.

Samples were transported from the secure storage facility in La Libertad to the ISO/IEC 17025- accredited Bureau Veritas preparation lab in Managua, Nicaragua. Pulps were sent to Bureau Veritas Acme Laboratories Inc in Vancouver, British Columbia for Aqua Regia digestion followed by assay using IF30 Ultratrace ICP MS on a 30g split.

Jim Steel MBA P.Geo. is the Qualified Person under NI 43-101 and has read and has approved the technical content of this news release.

Jean Labrecque, President

Glen Eagle Resources Inc

999 De Maisonneuve West

Suite 725

Montreal, Quebec

Toll free: 1-855-229-4488

Website:

http://www.gleneagleresources.com/">www.gleneagleresources.com

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