DAILY NEWS Jan 22, 2013 4:16 PM - 0 comments

LITHIUM: Glen Eagle completes PEA on Authier

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QUEBEC – Glen Eagle Resources of Montreal has reported key data from the preliminary economic assessment on its Authier lithium project 45 km northwest of Val d'Or. Preproduction capital expenditures are estimated to be $42.1 million to develop a 2,000-t/d open pit and mill. The project would have a 10-year life. The company put the net present value at $53.3 million and the internal rate of return at 28.7%. The project payback would be two years. A selling price of $525/t of spodumene concentrate (6.0% Li2O) was used in arriving at these figures.

Glen Eagle noted that the Authier deposit occurs as a large and geographically favourable pegmatite body. The mineralization occurs near surface and continues to a depth of 175 metres at a 45° angle. Grades become higher at depth and the deposit is open in that direction.

The Authier project is discussed in detail in the corporate presentation posted at GlenEagleResources.com.

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