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Last C$0.09 CAD
Change Today 0.00 / 0.00%
Volume 14.0K
GER On Other Exchanges
As of 3:11 PM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).

glen eagle resources inc (GER) Snapshot

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12/11/14 - C$0.20
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glen eagle resources inc (GER) Details

Glen Eagle Resources Inc. engages in the acquisition, exploration, evaluation, and development of mining properties in Canada. The company holds interests in the Authier lithium project located in Lamotte, Quebec; and an option to acquire Moose Lake and Lac Lisette phosphate properties located in Lac St-Jean area, Quebec. It also holds 25% interest in the Barry Souart Gold property located in Lebel-sur-Quevillon, Quebec; and the Sombrero Negro gold project located in Nicaragua. The company was formerly known as Temoris Resources Inc. and changed its name to Glen Eagle Resources Inc. in August 2008. Glen Eagle Resources Inc. is headquartered in Montreal, Canada.

glen eagle resources inc (GER) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: C$114.0K
Chief Financial Officer, Director and Member ...
Total Annual Compensation: C$80.4K
Compensation as of Fiscal Year 2013.

glen eagle resources inc (GER) Key Developments

Glen Eagle Resources Inc Announces Glod Processing Plant in Honduras, at Full Capacity

Glen Eagle Resources Inc. announced that its gold processing plant in Honduras for custom milling has reached completion and is working at full capacity. Daily production has gradually increased from a few hours a day in late February to 8 hours per day recently. A new working schedule of 22 hours per day has been implemented by management and the Company should have by next week all the personnel in place to meet its objective. The remaining two hours will be used for maintenance. As a result, the daily plant throughput is expected to reach a production capacity of 60 tons per day. The head grade processed in March of custom milled mineralized material was 5.5 grams gold per tonne and 120 grams silver per tonne with recoveries ranging from 70% to 80% based on daily sampling and data provided by the company's on site laboratory. The gold and silver concentrate accumulated throughout the month of March is currently being refined into dore bars as the end product.

Glen Eagle Expands Moose Lake by Acquiring 63 Claims

Glen Eagle Resources Inc. announced that following exceptional drilling results on its Moose Lake phosphate project located in Quebec, the company has signed an option agreement to acquire 63 mining claims almost contiguous to the property. The new area is called Ituk for future reference and the decision to acquire the claims was based on two separate magnetic airborne surveys conducted on both Moose Lake and Ituk. The two airborne surveys have outlined large anomalies bearing similar magnetic signatures. The main phosphate-bearing body on Moose Lake was estimated initially to be 1.5 kilometer long by 250 meters wide which was reconfirmed with a greater degree of certainty by the latest drilling campaign encompassing more than 3,300 meters of drilling. The option agreement requires the following: $50,000 on ground prospecting in 2015; $200,000 on drilling over the next 3 years; a cash payment of $20,000 at the end of year.

Glen Eagle Resources Inc. Announces Results of Drilling Program on Moose Lake

Glen Eagle Resources Inc. announced the results of a very successful drilling program on Moose Lake located near highway 172, approximately 100 km North of Chicoutimi, Quebec. A total of 3,300 meters were drilled and designed with a two-fold purpose which was to deepen 11 holes previously drilled in 2012 that did not cross at depth the entire phosphate bearing unit. The current drilling program successfully increased the phosphate intercepts at depth in every hole. This section of the drill program accounted for 585 meters. The main phosphate-bearing body which was estimated to be 1.5 kilometer long by 250 meters wide can now be confirmed with a greater degree of certainty. The program seems to have tested the outer limit of the deposit along strike to the East as grade and thickness of the mineralization decreased with drill holes LO-14-16 to LO-14-20 intercepting limited widths. The samples were prepared at the company's facility under the supervision of the field geologist by splitting the NQ core in two halves. One half of the core was bagged, tagged and sealed and delivered to AGAT Laboratories in Mississauga, ON. The other half is kept for record. The samples were analyzed for all oxides using AGAT Laboratories' lithium borate fusion method (AGAT Analysis Code 201076) and ICP-OES finish, summation of all oxides with an assay range of 0.005 to 100% P2O5. AGAT Laboratories' Mining Division is accredited to ISO/IEC 17025 and CAN-P-1579 by the Standards Council of Canada (SCC). AGAT Laboratories internal quality control procedures include the regular analysis of replicate samples, reference materials and reference blanks. The company has also implemented its own QAQC program for quality control. The company is using two analytical standards, a high and a low standard and blanks. Standards and blanks samples are alternatively inserted every 20 samples.


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