Goldeye intersects gold-bearing zones, explores further
2010-08-24 11:28 ET - News Release
Mr. Blaine Webster reports
GOLDEYE INTERSECTS WIDE GOLD-MINERALIZED ZONES, UPDATES EXPLORATION, SHINING TREE PROJECT
Goldeye Explorations Ltd. has released the results of its most recent drilling program, its report on its planned exploration and its report on exploration in the immediate area of the Goldeye claims.
HIGHLIGHTS FOR THE AREA OF THE GOLDEYE CLAIMS
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-- Goldeye's intersection of wide gold-bearing zones in its 2010 drilling
program.
-- Goldeye's completion of a program of trenching, channel sampling, and
mapping on the West Iron Formation (Big Dome), and on an induced
polarization anomaly approximately one kilometre north of the Tyrrell
Shear Zone at the Big Dome area.
-- Interpretations of 3D borehole induced polarization inversions showing
that chargeability emanating from gold-associated sulphides is extending
to an estimated depth of one kilometre on the Big Dome and Hydro Creek.
-- Goldeye's planning for the linecutting of a 60 kilometre grid which will
cover about one kilometre of the west extension of the Tyrrell Shear,
and potentially 3.5 kilometres of the South Shear from the Juby JV
ground, where several gold showings occur.
-- Creso Exploration's continued drilling of the Minto Occurrence within 80
metres of the ground optioned from Goldeye, in which Goldeye retains a
minimum 25% interest carried to production.
-- Juby Joint Venture's (60% Temex Resources, 40% Goldeye) positive surface
exploration results include induced polarization anomalies approximately
600 metres east of the Creso high grade drilling results reported as
18.2g Au/t over 65.7 metres and 13.3g Au/t over 82.5 metres (Creso News
Releases June 9, 2010 and August 9, 2010); rediscovery of a shear zone
subparallel to the Tyrrell Shear, approximately 500 metres south of the
Juby deposit lease, trending onto Goldeye claims; and identification of
gold-in-soil anomalies, some of which are coincident with induced
polarization anomalies (Temex News Release, August 17, 2010).
-- Temex' report (News Release, June 15, 2010) on the Juby Main Zone of a
NI 43-101 compliant mineral resource inventory of 614,000 ounces of gold
in the indicated category and 602,000 ounces of gold in the inferred
category. The deposit is located 3.5 kilometres along the strike of the
Tyrrell Shear from the large Goldeye block which overlies approximately
five kilometres of the shear zone.
