Goldeye Explorations Limited - McFaulds Lake Property

Chile (Sonia-Puma) | Ontario ( Tyrrell | Boyer Lake | Gold Rock | Sandy Lake | McFaulds Lake ) | British Columbia ( Todd Creek)

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McFaulds Lake property

McFaulds Lake (James Bay Lowlands, Northern Ontario) Following the Double Eagle (Cu, Ni, PGE) discovery by Noront Resources Ltd. in the James Bay Lowlands area of northern Ontario, Goldeye, in conjunction with 50:50 partner Tribute Minerals Inc., has staked 90 claims covering 19,200 hectares in nine blocks. The claims are located along the "Ring of Fire" approximately 45 kilometres west of the Double Eagle discovery. The claims protect several airborne magnetic anomalies that are interpreted to exhibit similarities to that associated with the Noront discovery. Peridotite, which hosts the Cu-Ni-PGE mineralization at the Double Eagle zone, was encountered on one of the claims groups during the staking.

As posted on the Noront website, Geological Consultant Jim Mungall, Ph.D, Associate Professor from the University of Toronto, visited the Double Eagle project in November 2007. "The large amounts of sulfide and of ultramafic cumulate make it absolutely clear that the Eagle One deposit has formed in a magmatic conduit. No magma could have carried the observed amount of sulfide in solution; therefore the sulfides have been left behind by a through-going volume of magma much greater than what presently remains in the intrusion. If the intrusion is accepted to be a conduit then it must be continuous over considerable distances likely measurable in kilometers."

An airborne VTEM flown in March in the Southwestern Ring of Fire area, encompassing approximately 1860 km resulted in the discovery of multiple high priority copper-nickel and copper-zinc conductors. Additional claims have been staked to protect these conductors. A VTEM survey to be flown on claims not surveyed to date will be followed up with ground geophysical surveys as soon as physically possible. Exploration expenditures incurred on this property to March 31, 2008 totaled $136,019.

List of press releases

2008: February 27 | May 1 | June 25
2007  November 7

 

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