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:
-- 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.
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
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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
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
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