Glen Eagle Resources Licenses Cycladex Innovative Technology
MONTREAL, June 16, 2021 - - Glen Eagle Resources Inc. (TSXV:GER) (OTC:GERFF) (or "the Company") is pleased to announce that it has signed a non-exclusive licensing agreement with Cycladex Ltd to test their environmentally friendly technology delivering high yields and short extraction times. The development of the technology was supported by the National Science Foundation SBIR program and from investors in the UK. http://cycladex.com/ Cycladex uses a novel, patented chemical process to rapidly recover precious metals by cutting leach time from 30 hours to 6 hours on average. Developed by Nobel Prize winner, Sir Fraser Stoddart, Director of the Center for the Chemistry of Integrated Systems at Northwestern University, this new process has been proven easily adaptable to Cobra Oro Merrill-Crowe operation in Honduras.
Through partnering with Cycladex, the Company will have the opportunity without affecting its current operations to test an environmentally friendly technology that could open new markets, better serve our mining customers by addressing a broader spectrum of mining needs, accelerate our leach time and improve recovery on the test pad.
The cost to add the new circuit has been estimated at $130,000 dollars, a relatively low investment risk considering the potential benefits that the Company could reap from the technology.
Glen Eagle will also act as Cycladex's distributor in Honduras and will be able to demonstrate to new customers the Cycladex process once the new circuit has been completed and is up and running.
Glen Eagle has been in talks with Cycladex for almost ten months from the beginning of its due diligence process to the signing of the current agreement.
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Jean Labrecque, President
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