Canadian gold producer Glen Eagle Resources Inc. (Glen Eagle) has entered a cooperation agreement with exploration and development company Inception Mining, Inc.
According to Glen Eagle, as both companies have operations in Honduras (within 25 min. of each other) and rendered mutual services in the recent past, the companies have decided to further extend their cooperation to better serve their mutual interests.
Since 2015, Inception has operated a heap leach plant processing 500 tpd from its opencast mine that has been in operation for 40 years.
According to the terms of the cooperation agreement, Glen Eagle will process Inception’s high-grade ore contained in sulfides that cannot be heap leached but can be recovered by Cobra Oro’s processing plant.
Recent sampling results by the company of the main tunnel at Inception’s mine graded between 8 - 16 g/t of gold with upside potential for even higher grade ore based on Inception’s geological data base. Sampling results were fire assayed at Cobra Oro’s laboratory.
The cooperation agreement is a positive step for both companies by securing additional volume with high grade ore for future processing. Both companies will commence work immediately and hope to extract a minimum of 35 tpd in the coming weeks while assessing the potential for additional tonnage.
Read the article online at: https://www.globalminingreview.com/finance-business/28092018/glen-eagle-and-inception-mining-join-forces-to-better-serve-mutual-interests/