brief summary
| previous release
| next release
map showing GRT claims
| Tyrrell property page
Goldeye Explorations Limited
27 Blue Spruce Lane, Thornhill, ON, L3T 3W8, Canada
October 16, 1998
CDN trade symbol: GEYE
Shares issued: 5,367,593 • Fully Diluted: 8,667,693
(Toronto, Ontario) Goldeye Explorations Limited is pleased to announce that diamond drilling will resume today on the Company's 200 claim unit Tyrrell Township Project. Approximately 720m of drilling is planned to further test the “Big Dome” gold area at 4 sites. Previous drilling has returned encouraging results of 3.3g/t Au over 4m and 5.9g/t Au over 1.4m in a sulphidic banded iron formation which has an associated Spectral IP anomaly 400 meters long. A second target is a chemical chert assaying 6.43g/t/0.6m and an adjacent breccia zone that assayed 10.6g/t/0.9m in a separate stratigraphic horizon and is associated with a 300 meter long Spectral IP anomaly with very high resistivities. A 200 meter diamond drill hole is planned to test a newly surveyed Spectral IP anomaly on the TSZ (“Tyrrell Shear Zone”) associated with silicification between the “Goldeye Zone”, and the “Big Dome Zones”. One 300 meter diamond drill hole is planned to test an airborne conductor southeast of the “Big Dome” near Cigar Lake. This drillhole is located on section 131E approximately 600m southeast of hole 98-06. It will also probe the southeast extension of the TSZ for gold mineralization.
Results of a high-resolution airborne magnetic/ VLF / radiometric survey over parts of Knight, Tyrrell and Leonard Townships funded jointly by exploration companies and the Ministry of Northern Development and Mines have been received. The data will be used to design a Spectral IP survey to cover the GRT lands northwest of the Juby gold deposit. The survey will start next week.
Goldeye Explorations Limited is a Canadian junior exploration company using state-of-the-art exploration technology on its four active projects in Ontario, Canada: the Shining Tree Tyrrell Township property, the Gold Rock project, the Sandy Lake project and the Maisonville project.