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Tyrrell property page
Goldeye Explorations Limited
27 Blue Spruce Lane, Thornhill, ON, L3T 3W8, Canada
March 10, 1998
COATS trade symbol: GEYE
Goldeye Explorations Limited (“Goldeye”) is pleased to announce a 1,500 metre drill program at its Tyrrell Township property on the Goldeye-LaCarte Zone in the Gowganda area of Northern Ontario.
The Goldeye-LaCarte Zone, which currently consists of 534,000 tons of 0.13 oz Au/t (ounces of gold per ton), will be further tested with two holes to check the continuity and rake of a previous intersection of 0.187 oz Au/t over 21.3 feet at a vertical depth of 984 feet. This zone occurs within a 130 foot by 1300 foot mineralized section of the Tyrrell Structural Zone.
Goldeye will also be drill testing other priority Spectral IP anomalies located 1 km southeast of the Goldeye-LaCarte Zone within the Tyrrell Structural Zone.
Drilling is scheduled to start on the 17th of March 1998.
There are currently 2,805,201 Common Shares of Goldeye issued and outstanding of which 780,001 are held in escrow. Additionally, there are 600,000 Special Warrants issued and outstanding which are convertible into Units of Goldeye, each Unit consisting of one common share and one common share purchase warrant.