Glen Eagle Resources Inc. has announced the assays from its Lac Lisette phosphate property in Quebec. The results indicated 2.83% phosphate over 25.5 meters. Drilling at the project was undertaken to primarily upgrade the inferred resources to an indicated resources.
The president of Glen Eagle Resources, Jean Labrecque said that they were basically in the same area as Arianne Resources, which had an excellent deposit south of them. He added that they had completed an airborne survey which indicated that there was a huge anomaly and that the potential for phosphate was definitely there.
Mr Labrecque said that till they began drilling they could not be sure, and so that is what they did. He thought that the last drill program was good because they were able to make a discovery. Also the grades seem to improve as they move north and that gives Lac Lisette a huge potential.
At Authier Lithium, another of Glen Eagle’s projects, the company is working on a feasibility study. They have already received a preliminary economic assessment and it was very robust as per Mr Labrecque. The company hopes to bring the project into production at very reasonable operating costs.
The demand for lithium is increasing and Glen Eagle is not the only company responding to it.
Nemaska Lithium is also focused on developing the Whabouchi lithium deposit. The company also owns the Sirmac lithium project and is actively involved in the James Bay region in Quebec in exploration and development.