brief summary
| previous release
| next release
photo of visible gold
| map of drill holes
| Tyrrell property page
Goldeye Explorations Limited
27 Blue Spruce Lane, Thornhill, ON, L3T 3W8, Canada
November 16, 1998
CDN trade symbol: GEYE
Shares issued: 5,367,593 • Fully Diluted: 8,667,693
Goldeye Explorations Limited (“Goldeye”) is pleased to announce that drillhole 98-9 intersected a high-grade quartz carbonate sulphide zone which assayed 2 934 g/t Au / 0.07 meters. The vein is included in a 1.4 meter section assaying 149.28 g/t Au (see table). This coincides with a 300 meter long strong Spectral IP zone with an associated resistivity high. Previous drillhole 98-07 intersected this resistivity high 100 meters to the east with near economic results (see attached map).
| From (m) | To (m) | Core Length (m) | g/t Au | Remarks |
|---|---|---|---|---|
| 125.6 | 126.1 | 0.6 | 3.65 | Silicified, felsic tuff, minor pyrite |
| 239.6 | 240.2 | 0.6 | 0.99 | White quartz stockwork in pyritic, graphitic argillite |
| 263.5 | 263.9 | 0.4 | 1.07 | Altered komatiitic flows with quartz carbonate veins |
| 271.2 | 272.6 | 1.4 | 149.28 | |
| or 271.45 | 272.00 | 0.55 | 379.92 | |
| including 271.45 | 271.52 | 0.07 | 2 934.00 | 1 cm white quartz & 4mm qtz - carbonate - pyrite with abundant coarse gold; veins at 50o |
| 271.52 | 271.67 | 0.15 | 1.60 | |
| 271.67 | 272.00 | 0.33 | 10.10 |
The high-grade vein lies within a thin unit of mafic volcanics in the sequence of komatiitic volcanics in the footwall rocks of the Tyrrell Structural Zone. The vein consists of 1 cm of white quartz with an adjacent 4 mm vein of quartz- carbonate and pyrite. Both the quartz and quartz - carbonate veins contain abundant coarse gold.
The vein coincides with a small ‘slip’ at about 50 degrees to the core. This appears to be conformable (possible inter-flow?) to the volcanics. The vein lies within generally undeformed mafic volcanics and on the footwall side of a 4 meter wide shear zone in komatiitic volcanics. The correlation with a 300 meter long IP anomaly associated with high resistivities and near economic intersections in hole 98-7 suggests the north side of the “Big Dome” is a second high potential auriferous horizon. The first is the magnetite iron formation intersected in hole 98-8 occuring on the south contact of the “Big Dome” which is located 1.5km southeast of the Goldeye Zone which has intersections of up to 6.42g/tAu/6.5 meters including 1.5 meters of 20.1g/tAu.
Further assays are awaited on the remaining 4 holes drilled in the present program.
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.