Posted in | Gold | Mining Business

Glen Eagle Provides Update on Nicaragua Project

Glen Eagle Resources Inc. ("Glen Eagle" or the "Company") is pleased to announce that it has done a significant amount of lab and field tests to better understand the recovery process of its tailings. Six hundred tons have been processed to that effect over the last six weeks.

Testing has always been part of a normal process in mining to select the right equipment and meet certain milestones to achieve the best recovery possible.

The company has opted to use a gravity system to reach its objective of recuperating 70% of the gold. The method will allow the project to remain environmentally friendly and keep its capital expenditures to a minimum. Sandgold has purchased approximately 1000 tons of tailings to comply with certain contract requirements with the La Libertad and Santo Domingo Coops. The lab results confirmed that the grades contained in the purchased tailings have a close correlation with the ones described in the 43-101 report which indicated a resource estimate of 67,000 tons grading 5.3 grams. The confidence level on "grade" has therefore increased substantially. In-house data accumulated over the last five months through surveying and additional lab results tend to indicate a considerably larger tonnage than previously stated although this information was not validated 43-101.

In this global perspective, Sandgold remains more confident than ever to make the La Libertad Project a successful business venture in Nicaragua and has acquired the know-how over the last six weeks to meet its goal.

"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."

Source: http://www.gleneagleresources.com/

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