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TORONTO, ONTARIO, Sep 14, 2011 (MARKETWIRE via COMTEX News Network) --
Goldeye Explorations Limited (TSX VENTURE: GGY) ("Goldeye" or the "Company") is pleased to announce the results from the 12 diamond drill holes completed during the May-June 2011 program on its 100% owned Tyrrell Property in the Shining Tree area of Northern Ontario. Goldeye will be at booth #133 at the Investment Conference being held at the Sheraton Hotel in Toronto, Ontario on September 15th & 16th, 2011. Highlights include the following: These three holes were drilled 1,100 m apart and intersected the gold mineralization in the hanging wall of the Tyrrell Shear Zone in essentially identical geological settings. Similar style and grade of mineralization was intersected in previous drilling 1,900 m to the NW of Hole G-11-68 giving 3,000 m of strike length to explore. Jorma Hannila, Goldeye CEO, said, "We are very pleased with these results as they have identified an essentially untested high grade target in a new hanging wall environment. Additional drilling is planned for this fall to follow-up these exciting results" Table 1. Significant Assay results from the Big Dome and Hydro Creek Areas Big Dome QUALITY ASSURANCE AND QUALITY CONTROL The drill core was sampled by sawing at a secure core facility and delivered for analysis to Activation Laboratories Ltd., Timmins, Ontario. Activation Laboratories uses ISO/IEC 17025 to implement a quality system aimed at improving its ability to consistently produce valid results. In addition to the internal laboratory QA/QC, Goldeye inserted one certified standard or one blank sample every twenty samples. ABOUT GOLDEYE Goldeye is a Canadian gold-focused exploration company with properties in mineral-rich, politically secure jurisdictions with long traditions of mining (Canada and Chile). Goldeye's approach is to advance precious metal deposits to the development stage, employing, in part, technologically advanced geophysical techniques and occasionally joint venture funding. The Qualified Person who has read and approved this press release is Jorma J. Hannila, P.Geo., C.E.O. of Goldeye Explorations Limited, who should be contacted for further information at (905) 886-2538, or by e-mail at jhannila@goldeye.ca. Goldeye's website is www.goldeye.ca. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Contacts: Goldeye Explorations Limited Jorma J. Hannila, P.Geo. C.E.O. (905) 886-2538 jhannila@goldeye.ca www.goldeye.ca SOURCE: Goldeye Explorations Limited mailto:jhannila@goldeye.ca http://www.goldeye.ca
-- Hole G-11-68 intersected three separate new zones of gold
mineralization: 33.2 g/t Au over 1.0 m; 2.01 g/t Au over 1.0 m and 3.17
g/t Au over 2.6 m. The gold occurs in brecciated mafic pillowed to
massive volcanics which have been extensively bleached, sericitized and
silicified. The visible mineralization consists of fine pyrite in a
siliceous grey matrix, surrounding the angular fragments with minor
quarts veins.
-- Hole G11-61 cut 3.61 g/t Au over 1.0 m in brecciated mafic flows.
-- Hole G-11-63 assayed 2.68 g/t Au over 1.0 m in brecciated mafic flows.
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Hole # From (m) To (m) Interval(m) Au (g/t) Zone Host Rocks
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G-11-61 172.00 180.00 8.00 1.54 HW Felsic volc
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including 176.00 177.00 1.00 3.61 HW Felsic volc
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G-11-62 192.00 194.00 2.00 1.50 HW Felsic volc
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G-11-63 246.00 248.00 2.00 1.19 HW Mafic volc
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272.00 273.00 1.00 2.68 HW Mafic volc
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282.00 283.00 1.00 1.23 HW Mafic volc
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G-11-64 No significant gold values
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G-11-65 195.00 196.00 1.00 1.16 New Mafic volc
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G-11-66 45.00 46.00 1.00 1.05 HW Mafic volc bx
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G-11-67 33.00 34.00 1.00 1.20 HW Felsic volc
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38.00 39.00 1.00 1.02 HW Felsic volc
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68.00 69.00 1.00 1.21 HW Mafic volc bx
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74.00 75.00 1.00 1.21 HW Mafic volc bx
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79.00 80.00 1.00 1.25 HW Felsic volc bx
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105.70 106.85 1.15 1.47 HW Felsic volc bx
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135.00 136.10 1.10 2.98 HW Mafic volc bx
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G-11-68 51.00 60.00 9.00 4.00 HW Mafic volc bx
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51.00 52.00 1.00 33.20 HW Mafic volc bx
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122.60 133.00 10.6 1.56 HW Felsic volc bx
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including 124.00 125.00 1.00 5.61 HW Felsic volc bx
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200.00 201.00 1.00 2.01 New Sediments
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Hydro Creek
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Hole # From(m) To (m) Interval(m) Au (g/t) Zone Host Rocks
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H-11-42 116.00 117.00 1.00 2.09 New Felsic Volc
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H-11-43 49.00 50.00 1.00 2.89 New Felsic Volc bx
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312.00 313.00 1.00 1.73 New Felsic Volc
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H-11-44 147.50 148.00 0.50 1.45 New Felsic Volc
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151.50 152.00 0.50 1.19 New Mafic Volc
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H-11-45 No significant gold values
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Abbreviations: HW - Hanging Wall
BX - Breccia
Volc - Volcanic
Copyright 2011 Marketwire, Inc., All rights reserved.
Goldeye Explorations (the Company) (TSX VENTURE: GGY) is pleased to announce that Mr. Jorma Hannila, P. Geo., is joining the Company as CEO and will be responsible for directing and coordinating the exploration and development of Goldeye's properties. Mr. Hannila was recruited by Blaine Webster and the Board of Directors in ongoing efforts to realize the full potential value of our properties. Mr. Hannila graduated in 1970 with an Honours degree in Geology from Laurentian University and has been involved in the discovery of new ore bodies at Casa Berardi, Quebec, and Thompson, Manitoba, while directing and managing surface and underground exploration programs for Inco Limited. He has 35 years of experience in gold, base metals and uranium exploration in Canada, USA, Mexico, Europe and Africa and was General Manager for 6 years in Turkey responsible for Inco's programs in Turkey, Asia and the Middle East. Since 2005 he has worked as a private consultant to mining exploration companies. Mr. Hannila stated, "I believe that Goldeye is poised for spectacular growth. Tyrrell, Sonia-Puma and Sandy Lake all have the potential to host one or more gold deposits. What is required now is a well-planned, well-executed and aggressive exploration program for each project to turn that potential into producing gold mines. I am excited to be part of this next phase and look forward to sharing good news with our shareholders." We welcome him to Goldeye and look forward to his heading up the team that will drive the Company forward to develop our significant and well-placed properties. Goldeye is also pleased to announce that Mr. Brian Howlett has agreed to join our Board of Directors. Mr. Howlett brings over 25 years of senior financial management experience to the Company. Mr. Howlett graduated in 1982 with a B.Com. in finance from Concordia University and received his CMA designation in 1989. He has gained valuable experience with numerous industries throughout his career, including corporate restructuring. He spent 6 years as the CFO of ELI Eco Logic Inc., a TSX listed company and four months as CFO with Dumont Nickel Inc., a Venture Exchange listed company. Since 2009 he has worked as a consultant in accounting and finance. Mr. Richard Dean who is currently a director of the Company will assume the position of Chairman of the Board while Mr. Blaine Webster, P. Geo., will remain as President and provide support and the technical guidance that has served the Company so significantly over the years. On Behalf of Goldeye Explorations Limited Denise Dodds, EXECUTIVE SECRETARY ABOUT GOLDEYE Goldeye is a Canadian gold-focused exploration company with properties in mineral rich, politically secure jurisdictions with long traditions of mining (Canada and Chile). Goldeye's approach is to advance precious metal deposits to the development stage, employing, in part, technically advanced geophysical techniques and occasionally joint venture funding. The qualified person (within the meaning of National Instrument 43-101) who read and approved this press release for Goldeye is Blaine R. Webster. For more information please visit www.goldeye.ca. Forward Looking Statements: This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. The Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Contacts: Goldeye Explorations Limited Blaine Webster (905) 731-9367 or (905) 886-2538 bwebster@goldeye.ca www.goldeye.ca SOURCE: Goldeye Explorations Limited mailto:bwebster@goldeye.ca http://www.goldeye.ca
TORONTO, ONTARIO, Aug 15, 2011 (MARKETWIRE via COMTEX News Network) --
Copyright 2011 Marketwire, Inc., All rights reserved.
GOLDEYE UPDATES ITS GOLD-SILVER-COPPER PROJECT IN CENTRAL CHILE
8/3/2011 9:48:25 AM - Market Wire
TORONTO, ONTARIO, Aug 03, 2011 (MARKETWIRE via COMTEX News Network) --
Goldeye Explorations Limited ("Goldeye" or "the Company") (TSX VENTURE: GGY) is pleased to announce the results of geological mapping and compilation work on its Sonia Property approximately 180 kilometres north of Santiago, Chile (regional map click here). The Sonia Property consists of 41 mineral claims totaling over 8,100 hectares. Forty-nine low sulphidation epithermal veins containing gold, silver and base metal mineralization have been identified on the block.
The property is located near the intersection of the N-S striking Porcuro fault and a large regional fault striking at 310 degrees which is a favourable structural setting for porphyry intrusions and associated epithermal gold-silver-copper deposits. The Los Pelambres porphyry copper deposit (3 Bt 0.65% Cu) is located 40 km to the north; the El Bronce (1 Mt 7.5 g/t Au 18 g/t Ag) mine is 30 km to the west and the Vizcachitas porphyry copper deposit (0.5 Bt 0.4% Cu) is located 30 km to the southeast. Yamana, Codelco and Vale have claims adjacent to the Goldeye property.
Goldeye's president Blaine Webster stated "we are very pleased about the results from the winter sampling program in Chile. The vein systems contain economic grade chip samples from the Sonia vein at 3000 m of elevation where 5 m of 7.7 g/t Au and 217 g/t Ag have been obtained on the Durazno vein at 1900 m elevation. Strong geophysical conductors are associated with some of the veins and with topographic lows which may contain alteration minerals possibly associated with mineralization. Deep penetrating spectral IP (Induced Polarization) surveys will help identify zones associated with higher sulphide content that should contain higher grades because the silver and copper mineralization on surface have been leached. The occurrence of three alteration zones on the property is extremely important to our exploration model. Also, there are five small mining operations near the property which demonstrates economic mineralization occurs in the vicinity".
The recently completed mapping program (click here) was carried out on the northwestern part of the property to which there is partial road access. Work was concentrated in two areas, the San Pedro (western area) and the Rancho - Maria Paa (eastern area, four kilometers to the east). The objective of the work program was to establish vein and structural target areas for follow-up, with deeper testing by diamond drilling to be guided in part by future spectral induced polarization surveying. Within the San Pedro and adjacent areas, four zones have been identified for further evaluation. These are:
-- the Durazno zone where artisanal miners previously exploited the
vein/zone in surface workings across a width in the order of 15 metres,
-- the Evelyn vein / San Pedro - split area (joining of two veins),
-- the Rosario area where the San Pedro veins join and form a zone of
mineralization potentially several metres wide and,
-- Rosario North where mineralized and quartz-veined boulders occur over an
area approximately 90 metres in diameter.
In early May, the company re-examined the Durazno structure where there are 15-20 short declines and 2 open pits that were previously mined on a small scale for gold. Current studies show the area to be a 15-20 metre wide structure dipping steeply to the northwest. One 4 m cut across a section of one of the open pits averaged 3.85 g/t Au, 4.7 g/t Ag, 0.15% Cu, 0.29% Pb and 0.39% Zn.
Previous work by the Company on the Evelyn vein indicated a mineralized strike length of 331 m based on eleven, approximately evenly spaced, surface trenches and samples from two artisanal mine workings. The mineralized zone, across an average true width of 0.90 metres, averages 0.65 g/t Au, 35.4 g/t Ag, 0.54% Cu, 0.15% Pb and 0.15% Zn.
Sampling results from Rosario and Rosario North were reported in the Company's June 29, 2011 new release and are repeated here for ease of reference. A complete set of trench results (click here) and a map of vein locations (click here) are posted on the Goldeye website, www.goldeye.ca.
Rosario
The vein was sampled over a strike length of 45 metres and 7 sites were sampled.
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Sample Site Width Au Ag Cu Pb Zn As Sb
(m) (g/t) (g/t) (%) (%) (%) (ppm) (ppm)
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Decline 1-1
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Entrance 0.70 1.98 10.9 0.95 0.11 0.99 140 19
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Includes 0.40 3.39 16.0 1.14 0.14 1.14 153 24
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Decline 1-2
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Face 1.70 0.44 41.9 1.26 0.01 0.48 124 14
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Outcrop 2 1.50 0.39 57.9 0.31 0.11 0.19 397 71
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Includes 0.70 0.51 115.8 0.44 0.12 0.20 619 137
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Outcrop 3 1.30 0.40 14.5 0.59 0.05 0.19 195 38
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Outcrop 4 0.90 0.56 5.3 1.23 0.03 0.31 73 less than 5
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Tr RO 1 1.20 8.89 41.8 0.70 0.10 0.27 409 171
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Rosario North
One trench sample and four grab samples were taken from quartz veins and mineralized boulders over an area of 90 metres in diameter.
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Sample Site Width Au Ag Cu Pb Zn As Sb
(m) (g/t) (g/t) (%) (%) (%) (ppm) (ppm)
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Stockpile 1 Grab 0.93 35.3 1.31 0.10 0.18 115 22
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Stockpile 2 Grab 0.43 32.4 1.07 0.11 0.12 256 25
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Pit 1 Grab 0.58 43.0 1.68 0.20 0.26 69 less than 5
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Pit 2 Grab 0.69 44.7 1.13 0.08 0.13 97 7
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Tr RO 2 0.35 0.84 98.8 1.69 0.28 0.29 343 59
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In the Rancho - Maria Paa area, five veins/zones were mapped, Rancho, Barbara, Maria Paa, Brenda and Trinidad - Malena. Of these five veins/zones, the Rancho, Barbara and Trinidad-Malena veins/zones appear to have the potential for multiple veins and mineralization over widths of several metres. The central part of the Maria Paa vein has a higher grade gold core within a mineralized blowout that reaches up to 6 meters.
The Rancho - Maria Paa area lies on the south side of the Rio Sobrante and immediately to the north, on the north side of the river, is a significant zone of hydrothermal alteration covering in the order of one square kilometre ("the Sobrante alteration zone"). Two additional alteration zones were previously identified at Paso del Inca and on the Puma claims 4 kilometres and 12 kilometres to the south respectively. These zones lie along a major north-south-trending fault structure. In addition the compilation work indicates that the Sonia - Puma property and the alteration and vein zones in particular occur where major north-south structures are crossed by northwest-southeast-trending structures. This structural framework is a well recognized factor in the localization of porphyry copper (molybdenum) and gold deposits in Chile. Porphyry copper models also show a close spatial relationship between porphyry copper deposits and epithermal gold-silver-(copper) mineralization and alteration.
The Sobrante alteration zone appears to be capped by an impermeable volcanic unit with the volcanic package dipping at approximately 30 degrees to the southeast. The Company considers that the alteration zone may be much more extensive than that exposed on surface with the zone continuing downdip to the southeast. Preliminary geochemical - type sampling of the alteration zone has returned anomalous values in silver and arsenic, suggesting epithermal-type mineralization.
The Company is planning to implement a program of induced polarization ("IP") surveying of the target areas in the San Pedro and Rancho - Maria Paa areas as soon as weather conditions permit. The targets will be high grade mineralization such as the Lurdes vein previously reported with a sample of 58.3 g/t Au, 531.1 g/t Ag, 2.43 % Cu and 21% Pd. Sampling and deep-penetrating IP are proposed on the Sobrante alteration zone to test its potential for epithermal gold-silver-type mineralization as well as associated porphyry copper-type mineralization with follow-up drilling on the most prospective targets.
ABOUT GOLDEYE
Goldeye is a Canadian gold-focused exploration company with properties in mineral rich, politically secure jurisdictions with long traditions of mining (Canada and Chile). Goldeye's approach is to advance precious metal deposits to the development stage, employing, in part, technically advanced geophysical techniques and occasionally joint venture funding. The qualified person (within the meaning of National Instrument 43-101) who read and approved this press release for Goldeye is Blaine R. Webster President and C.E.O. of Goldeye.
Forward Looking Statements:
This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. The Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Goldeye Explorations Limited Malcolm Finlay Investor Relations (416) 505 2845 Goldeye Explorations Limited Blaine Webster bwebster@goldeye.ca www.goldeye.ca
SOURCE: Goldeye Explorations Limited
mailto:bwebster@goldeye.ca http://www.goldeye.ca
Copyright 2011 Marketwire, Inc., All rights reserved.
GOLDEYE DISCOVERS 58.38 g/t Au AND 531.7 g/t Ag, 2.43% Cu, 21% Pb OVER 0.5m ON LURDES VEIN ON SONIA PROPERTY IN CENTRAL CHILE TORONTO, ONTARIO, June 29, 2011 - Goldeye Explorations Limited (“Goldeye” or “the Company”) (TSX VENTURE: GGY) is pleased to announce the results of its recently completed trenching, channel sampling, geologic mapping, and magnetometer and VLF-EM surveying on its Sonia Property, approximately 180 kilometres north of Santiago, Chile (regional map click here). The Sonia Property consists of 41 mineral claims covering a total area of 8,103 hectares. Over 40 low sulphidation epithermal veins containing gold, silver and base metal mineralization have been identified on the block. The recently completed program was carried out on the northwestern part of the property to which there is partial road access. The objective of the work program was to establish vein and structural target areas for follow-up deeper testing by diamond drilling, to be guided in part by future spectral induced polarization (“IP”) surveying. The work was concentrated in two areas, the San Pedro (western area) where 343 samples were taken from 11 veins, and the Rancho – Maria Paa (eastern area, four kilometers to the east) where 173 samples were taken from eight veins. “We are very pleased to continue to discover new veins on the property on new claims acquired in 2009. There are several old workings on the property and now we have significant drill targets that are easily accessible by road. An increase in silver and copper grades is expected at depth in future drilling due to surface leaching and secondary enrichment. Also, the discovery of three alteration zones with porphyry potential is extremely exciting. The strategy of working in mining friendly Chile as well as Ontario provides the Company with exposure to very large gold deposits”, commented Blaine Webster, President of Goldeye Explorations Limited. The San Pedro vein and structure has been traced on a northwesterly trend for approximately two kilometres, and the recent detailed work was carried out as surface cover and topography permitted, over a strike length of approximately 500 metres on the Upper San Pedro on the southeastern end of the zone (click here). In this area at an elevation of approximately 2,700 metres, the San Pedro, Paola, Lurdes, Isa Mar, Camila and Hade veins were trenched and sampled. Approximately one kilometre to the northwest at an elevation of 1,900 metres along the structural grain, the San Pedro, Rosario, Rosario North and Evelyn veins were sampled. Immediately to the east of the San Pedro vein zone area are the Mina (Mine) Morada and Felicidad veins on third party ground being evaluated and operated privately by local miners. In the following tables the highlights of the sampling results from the current program are reported. All of the veins strike northwesterly to north and dip steeply to vertical. Because of the steep dips, the horizontal sample distances are close to true widths. The veins/zones were sampled in rock exposures where available, in hand excavated trenches and in pits, shafts and tunnels, excavated recently by local small scale miners and by prospectors and miners from pre-colonial and colonial times. Sample sites were for the most part evenly spaced along the trend of the zones. A complete set of trench results (click here) and a map of vein locations (click here) are posted on the Goldeye website, www.goldeye.ca San Pedro Area Paola The vein was sampled over a strike length of 15 metres and 7 sites were sampled. Lurdes The vein was sampled over a strike length of 480 metres and 21 sites were sampled. Camila The vein was sampled over a strike length of 230 metres and 9 sites were sampled. Francisca The vein was sampled over a strike length of 125 metres and 4 sites were sampled. Lower San Pedro Area– Central In the central part of the San Pedro vein/structure the following veins were trenched and sampled. San Pedro Central The vein was sampled over a strike length of 45 metres and 3 sites were sampled. Rosario The vein was sampled over a strike length of 45 metres and 7 sites were sampled. Rosario North Rancho – Maria PAA Area Rancho – Maria Paa Area Highlights The veins/structures in this area all trend approximately north-south, are at an elevation of 1550 – 1900 metres to the south of the Rio Sobrante, and occur over an east-west distance of approximately 1.2 kilometres, four to five kilometres east of the San Pedro area. On the north side of the river is a well developed hydrothermal alteration zone covering at least one square kilometer, which is the most northerly of three such zones that lie along a north-south trend within the Goldeye holdings. The other two zones are located in the Paso del Inca and Puma areas, three and 15 kilometres respectively to the south. These areas of hydrothermal alteration may be related to porphyry type mineralization. Rancho The vein was sampled over a strike length of 170 metres and 5 sites were sampled. Barbara The vein was sampled over a strike length of 180 metres and 3 sites were sampled. Maria PAA Trinidad The vein was sampled over a strike length of 75 metres and 5 sites were sampled. All samples were put in cloth bags and in sacks that were closed at the end of each day. These were transported by company personel to the Actlab in Coquimbo where they were prepared and analysed. Fire assay with atomic absorbtion finish on 30 g samples. ACTLABS provided standards and blanks with repeats on approximately every tenth sample during the assay process. In the lab Rejects and pulps have been returned from the laboratory and stored by Goldeye. (For a complete list of assays please click here) ABOUT GOLDEYE Goldeye is a Canadian gold-focused exploration company with properties in mineral rich, politically secure jurisdictions with long traditions of mining (Canada and Chile). Goldeye's approach is to advance precious metal deposits to the development stage, employing, in part, technically advanced geophysical techniques and occasionally joint venture funding. The qualified person (within the meaning of National Instrument 43-101) who read and approved this press release for Goldeye is Blaine R. Webster President and C.E.O. of Goldeye. Goldeye Explorations Limited (905) 731-9367 or (905) 886-2538
Upper San Pedro Area - Southeast
In the Upper San Pedro or southeastern part of the San Pedro vein/structure the following veins were trenched and sampled.
San Pedro
The vein was sampled over a strike length of 190 metres and 8 sites were sampled.
Ten grab samples of quartz veins/mineralized material were taken from a small stockpile collected from two pits. Quartz vein and mineralized boulders occur over an area measuring approximately 90 metres in diameter.
The vein was sampled over a strike length of 140 metres and 6 sites were sampled.
Forward Looking Statements:
This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. The Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
bwebster@goldeye.ca www.goldeye.ca
GOLDEYE COMMENCEMENT OF WORK ON CHILEAN EPITHERMAL SILVER-GOLD VEINS
3/4/2011 1:29:39 PM - Market Wire
Gold Rock Camp, Ontario-Goldeye Property and Activity
TORONTO, ONTARIO, Mar 04, 2011 (MARKETWIRE via COMTEX News Network) --
"Goldeye" or the "Company" (TSX VENTURE: GGY) is pleased to announce that it has commenced field season exploration on its 100% owned Sonia Project approximately 200 kilometres north of Santiago, Chile in Region V.
Over 30 silver-gold (base metal) low sulphidation epithermal veins have been identified on the over 80 square kilometre Sonia property. Mineralization has been exposed over vertical distances of 1,450 metres, with individual veins traced over strike lengths of one kilometre, and strike extents of up to four kilometres suspected for a few of the vein structures. Currently, additional vein sampling and mapping, and magnetometer and VLF-EM surveys are being carried out at lower altitudes, with the imminent commencement of similar evaluation of vein zones which vary up to 20 to 30 metres in width at higher elevations. This detailed mapping and sampling will provide diamond drill targets for a first phase program which is designed to commence before the onset of the Chilean winter at the elevation of the most promising targets.
Mineralization is hosted by a thick sequence of andesite flows and tuffs of Upper Cretaceous age in the metallogenic belt hosting the El Indio and Maricunga gold districts. Previous property sampling has indicated a variable, but silver dominant character to the mineralization in a gold-silver-lead-zinc-copper-(arsenic-antimony) assemblage. Potential bonanza grade precious metal values are indicated by small scale production reported from the Bujo vein at the privately owned Mina Morada, which is a topographically low vein surrounded by Goldeye concessions. From the highest vein elevation, gold values up to 77g Au/t were received from the Sonia vein. Silver grades on surface vary considerably and will be more reliably tested by drilling below the near surface zone of leaching.
Gold Rock Property Area Update
On February 28, 2011, Manitou Gold Inc. reported in a news release a particularly high grade gold intersection approximately one kilometre south of and on trend with Goldeye's seven claim Gold Rock property. The intersection of 53,700g Au/t (uncut) over 0.55 metres is located approximately 350 metres north of the Big Master Mine (#2) in the Upper Manitou Lake area (Gold Rock Mining Camp) where there are 61 known gold occurrences and prospects, including three past producers (Big Master, Laurentian and Elora). Goldeye is evaluating its options regarding the immediate course of action on this prospective claim block.
ABOUT GOLDEYE
Goldeye is a Canadian gold-focused exploration company with properties in mineral rich, politically secure jurisdictions with long traditions of mining (Canada and Chile). Goldeye's approach is to advance precious metal deposits to the development stage, employing, in part, technically advanced geophysical techniques and occasionally joint venture funding. The qualified person (within the meaning of National Instrument 43-101) who read and approved this press release for Goldeye is Blaine R. Webster President and C.E.O. of Goldeye.
Forward Looking Statements:
This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. The Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Goldeye Explorations Limited Blaine Webster (905) 731-9367 or (905) 886-2538 bwebster@goldeye.ca www.goldeye.ca
SOURCE: Goldeye Explorations Limited
mailto:bwebster@goldeye.ca http://www.goldeye.ca
Copyright 2011 Marketwire, Inc., All rights reserved.