Glen Eagle Resources, (TSX VENTURE:V.GER) is pleased to announce that Cobra Oro, a wholly owned Honduran subsidiary of Glen Eagle, has acquired “La Cobra,” known locally as one of the best mining concessions in Honduras. The property is located near the Pan-American highway and lies approximately 45 minutes from its milling facility. The “La Cobra” Mine was also the largest operational underground mine in Honduras for the greater part of the last century.
The concession was assigned by the Ministry of Mines at no cost to Glen Eagle through standard legal procedures as well as on the fact that Cobra Oro was the only company among eleven applicants to have a fully permitted gold processing plant in the area. read more