RE: Drill Results?First results are out.......
Looking good......
Goldeye Explorations drills 26.9 m of 1.11 g/t Au
Ticker Symbol: C:GGY
Goldeye Explorations drills 26.9 m of 1.11 g/t Au
Goldeye Explorations Ltd(C:GGY)
Shares Issued 177,996,458
Last Close2/15/2011
.07
Wednesday February 16 2011 - News Release
Mr. Blaine Webster reports
GOLDEYE EXTENDS BIG DOME WEST ZONE TO DEPTH AND DISCOVERS NEW GOLD MINERALIZATION AT CIGAR LAKE ON SHINING TREE PROJECT
Goldeye Explorations Ltd. is providing the results of the October toDecember, 2010, drilling program on its 100-per-cent-owned propertylocated in Northeastern Ontario. Seven holes were drilled totaling 2,633m: five to test the mineralization of the West Zone, one as anexploratory hole along the Tyrrell Shear Zone at Cigar Lake east of theBig Dome, and one to test the area of high grade mineralization in theCentral Big Dome area.
This drilling program increased the depth extent of the West Zone, anddiscovered a significant new gold zone at Cigar Lake near the TyrrellShear Zone. Exploration is being guided by surface and borehole 3DSpectral IP surveys.
Hole 10-54 intersected 8.4 g/t Au / 3 m from 325 to 328 m (or 7.03 g/tAu over 4 m from 324 to 328 m) in a mineralized zone grading 3.1 g/t Auover 10 m (321 to 331 m). This extends the Big Dome West Zone to avertical depth of 310 m with the grade and width increasing with depth.3D borehole IP indicates the sulphides continue to a depth of 1 km.Goldeye will be drill testing the zone to depth. Other holes to the westreturned elevated gold values and will be tested at depth. The resultsof the seven holes are summarized in Table 1.
Nine hundred meters to the east of the West Zone, a new gold zone (CigarLake) was discovered in Hole 10-60 intersecting 4.66 g/t Au / 2 m from124.0 - to 126 m within a zone that assayed 1.56 g/t Au over 14 m from114 to 128 m. This was within an interval grading 1.1 g/t Au / 26.9 mfrom 106.1 to 133 m. 2.08 g/t Au / 2 m was intersected deeper in thehole from 219 to 221.2 m. Hole 10-60 was targeted to test a moderatespectral IP anomaly along the Tyrrell Shear Zone where a fold in theassociated resistivity high was apparent. The new gold discovery is onGoldeye's 5 km long portion of the 8 km long Tyrrell Shear Zone. Futuredrilling will continue to test the Cigar Lake Gold Zone to depth andalong strike.
Two and one-half kilometres to the northwest of the 100% owned claimblock, Mineral Mountain Resources Inc. is drilling the Cook Zone locatedon the Tyrrell Shear Zone. Two and one-half kilometres to the east ofthe southeastern corner of the 100% owned claim block, Temex ResourcesCorp. is drilling on the Juby deposit. The Juby deposit contains 614,000oz of gold (indicated) and 602,000 oz of gold (inferred) (Temex pressrelease Feb. 3, 2011). The Tyrrell Shear Zone is analogous to thePorcupine- Destor Fault at Timmins and has the potential to host severalgold deposits.
A total of seven holes (2,633 m) have been completed on the Big Dometesting the depth extent and the shallow western extension of the WestZone. Hole-59 on the High Grade zone deviated to the east and missed thetarget. A previous press release dated August 24, 2010 summarizes the2009 and spring 2010 drilling on the Hydro Creek main block.
At Hydro Creek DHIP (Downhole IP) on Hole HC-22 has identified a verystrong high priority IP anomaly occurring in syenite at a hole depth of450 to 500 m. This high priority drill target occurs within the syenitein the Tyrrell Shear Zone and is associated with 63 m of 0.33 g/t Au.
Fifty km of Spectral IP has been completed on 100% owned ground atIndian Lake and to the west. High priority anomalies were located atIndian Lake and Hydro Lake and will be tested in future drilling.
The 2500 m drill program with JV partner Temex is in progress and CresoExploration Inc. has completed 2 holes (895 m) on Goldeye's Athenaproperty east of the Minto deposit. Goldeye has also received the secondinstallment on the Creso option ($ 75,000 cash and 100,000 shares) aspart of the option agreement with Creso.
Goldeye expects to start drilling in Tyrrell Twp. as soon as meetingsare finished with the Sandy Lake First Nation regarding a proposedwinter drill program at the Sandy Lake property in NW Ontario.
Ground work is also progressing at our Sonia project in central Chile to establish silver gold targets for drilling.
Table 1: SUMMARY OF October to December 2010 Drill Program
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Section Hole Relationship From (m) To (m) Width Au g/t Mineralized
Number (m) Zone
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11850E G10-54 198.15 206.50 7.85 1.51 Mfc Pillow
flow
Shear zone
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(9495N) Including 200 201 1 3.5
----------------------------------------------------------------------------
321 331 10 3.1 Altrd mfc
pillow flow
----------------------------------------------------------------------------
Including 324 328 4 7.0 Extends west
zone to 310m
vertical
depth
----------------------------------------------------------------------------
Including 325 328 3 8.4
----------------------------------------------------------------------------
11650E G10-55 15.9 24.2 3 3.03 Mafic Pillow
flow
----------------------------------------------------------------------------
11600E G10-56 59.0 61.6 2.6 3.9 Chert
----------------------------------------------------------------------------
9725E 289.0 289.7 2.7 0.9 Silicified
mafic
volcanics
----------------------------------------------------------------------------
11600E G10-57 45.5 47.0 1.0 0.76 Sediments
----------------------------------------------------------------------------
9775N
----------------------------------------------------------------------------
11550E G10-58 NSV
----------------------------------------------------------------------------
9820N
----------------------------------------------------------------------------
121+50E G10-59 413.00 422.00 9.30 0.487 Felsic
Deep intrusive
Hole on
High
Grade
Corridor
----------------------------------------------------------------------------
95+31N And 424.00 427.1 3.1 0.93 Felsic
Breccia
----------------------------------------------------------------------------
Note: Hole
G10-59
deviated from
target zone.
----------------------------------------------------------------------------
127+50E? G10-60 106.1 133.0 26.9 1.11 Porphyritic
Felsic
Volcanic
----------------------------------------------------------------------------
94+00E? Cigar including 114.0 128.0 14.0 1.56
Lake New
Gold
Zone
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including 124.0 126.0 2.0 4.66
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- UMT co-ordinates and the press release with maps are available on the
website www.goldeye.ca
Note: All collar azimuths are 025 degrees, Holes 54,55,56 are -65 degrees
57,58 are -50 degrees, 59 and 60 are -76 degrees. Intersections represent
core length. Assays reported are uncut.