Glen Eagle Resources Inc.
TSX VENTURE : GER

Glen Eagle Resources Inc.

September 30, 2010 08:30 ET

Glen Eagle Resources Inc : Drilling Update

MONTREAL, QUEBEC--(Marketwire - Sept. 30, 2010) - Glen Eagle Resources Inc. (TSX VENTURE:GER) ("Glen Eagle" or the "Company") is pleased to announce that a total of 10 drill holes have been completed to date on the Authier lithium property near the town of LaMotte in Quebec. The core samples will be shipped to the ALS lab for analysis in early October and the results are expected to be received sometime in late October.

The 2000-meter program was designed to bring the historical resources 43-101 compliant. In order to achieve this, 6 holes will be twinned on previously drill holes and the remaining holes will complete a 50x50 m drilling grid to be able to obtain measured and indicated resources. To date, 2 twin holes have been drilled and they intersected the expected length of lithium-bearing pegmatite.

The Company will continue to drill an additional ten to fifteen holes which should be sufficient to bring all the historical resources 43-101 compliant relating to the Authier lithium deposit.

Gilles Laverdiere, P.Geo., a qualified person according to the NI 43-101 disclosing standards, is supervising the drilling program and has reviewed and approved the technical content presented herein.

ABOUT THE AUTHIER LITHIUM PROPERTY

A total of 64 holes in excess of 7,000 m were drilled on the property by the previous operators. The spodumene-bearing pegmatite was traced for 600 m in length and almost systematically drilled to a vertical of 75 meters. A 43-101 non-compliant resource was established in 1993 (Raymor Resources - GM 53176) to 4,550,000 tons grading 1.07% Li2O. The deposit remains open at depth and to the West. The pegmatite is known to occur at a vertical depth of 225 meters.

The property is located about 45 km from Val-d'Or, north-western Québec and is easily accessible through provincial highways. The property lies within a belt of volcanic and sedimentary rocks intruded to the north by the La Motte batholith. Most of the rocks between the two batholiths consist of ultramafic flows with minor basalt. There are also several units of highly metamorphosed sedimentary rocks. Several small sill-like intrusive bodies were injected into the volcanic rocs, most of them being quartz monzonite.

"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"

Contact Information

  • Glen Eagle Resources Inc
    Jean Labrecque
    President
    514-938-4888
    jl@gleneagleresources.com
    or
    Glen Eagle Resources Inc
    Francois Marcotte
    Consultant & Investors Relations
    450-536-0279