photos of drill core | Tyrrell property page
press release
no. 98-8
Goldeye Explorations Limited
27 Blue Spruce Lane, Thornhill, ON, L3T 3W8, Canada
October 19, 1998
CDN trade symbol: GEYE
Shares issued: 5,367,593 • Fully Diluted: 8,667,693
Goldeye Hole 98-9 (12100E/ 9700N) on the “Big Dome” intersects lithologies similar to those hosting the Goldeye Zone at 155 to 180.8 meters. A 1cm-wide quartz vein containing coarse-grained visible gold at 271.5 meters
(Toronto, Ontario) Goldeye Explorations Limited is pleased to announce that a strongly deformed, altered, siliceous felsic tuff (fuchsite mica, quartz, 3% pyrite) has been intersected from 155.6 meters to 180.8 meters. This lithology is similar to that of the main Goldeye zone located 1.5 km to the northwest. A nodular (framboidal) pyrite bearing argillite, framboids up to 3cm, from 238.5 to 240.1 meters, may represent a facies extension of a previously intersected (from 73.1 to 80.1 meters) auriferous banded iron formation which graded 2.1g/t/7 meters (incl. 5.9g/t/1.4m). The iron formation was intersected in hole 98-8 which is located 100 meters to the west of hole 98-09 on section 12000E/ 9737.5N.
Adjacent, komatiitic ultramafic flows exhibiting spinifex texture here and there, from 257.0 to 274.6m, are sheared and impregnated with up to 10% white quartz with pyrite-graphite. At 271.5 m one quartz vein, 1cm thick, contains coarse-grained visible gold. Both the previously intersected chemical chert and porphyry breccia observed in hole 98-7 (12200E/9700N) contained visible gold (205.1m). Overall the visible gold occurs over a wide area. The iron formation occurs on the southwestern contact of the “Big Dome” on the Tyrrell Shear Zone (TSZ). The visible gold in both 98-09 and 98-07 occurs on the northeastern contact of the “Big Dome” and correlates with a one kilometer long, strong Spectral IP anomaly associated with high resistivities. Assays are pending on hole 98-09.
Hole 98-10 has been collared on section 12000E @ 98.82.5N drilling to undercut 98-08 that intersected the auriferous iron formation. (2.1g/t/7meters). Hole 98-11 is located 25 meters northwest of hole 98-08 and will test the iron formation. Hole 98-12 will test a strong Spectral IP response associated with very high resistivities on section 11750E at 97+70N. This target is located at the intersection of a magnetic low associated with the TSZ and a north striking magnetic low within the “Big Dome” structure.
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.