brief summary
| previous release
| next release
Tyrrell property page
Goldeye Explorations Limited
27 Blue Spruce Lane, Thornhill, ON, L3T 3W8, Canada
June 29, 2000
CDN trade symbol: GEYE
Shares issued: 8,365,205
The 10 metre quartz stockwork system recently discovered in hole G 20-15 from 117 to 127m is entirely auriferous with a 4.8 g/t intersection over 0.4 metres within a section assaying 0.7 g/t gold over 4.3 metres. Auriferous textures observed are similar to those seen by F. Puskas at Casa Berardi gold camp. Deepened hole G 20-7 intersected 12 metres of quartz stockwork from 304.5 to 316.5 metres. Hole 20-16 which is an over-cut of hole G-98-07 intersected 4 metres of the same quartz stockwork system from 77.9 to 81.95m within mafic volcanics. The quartz stockwork is spatially associated to the high-grade zone (1.4m grading 149 g/t gold) intersected in hole G-09. Overall the bulk of these features mirror those characterizing or associated with the "main" Goldeye Zone currently reported to contain approximately 0.513Mt at 4.4 g/t gold.
Goldeye Explorations Limited (the "Company"), is pleased to announce that hole 20-15 (collared at 12150E/8900N drilling at -45 degrees NE) intersected a 10 metre wide silicified shear zone containing 1 to 5% sulphides between 117 to 127 metres. The intersection graded 4.8 g/t gold over 0.4 metre and 0.7 g/t over a 4.3 metre interval. The new stockwork system represents a new mineralized system within a splay structure on the Tyrrell Shear Zone. The new mineralized system is spatially and genetically related to the high-grade structure intersected in hole G-09 and G-20-14. It should be noted that there was only 75% core recovery in the mineralized zone in GE-00-14.
The extension of Hole GE-07 has been logged and sampled. Drilling on holes G-20-16 and G-20-17 has been completed and core is being logged and sampled. Hole G-20-16 which is an over-cut of hole G-98-07 intersected 4 metres of the same quartz stockwork hosted by mafic volcanics. The quartz stockwork crosscutting of different lithologies, comprising a thick stratigraphic package, and the presence of significant gold values demonstrate that the mineralizing system is large with the potential to be economic. Hole G-20-17 was a 1.2 km step-out to the southeast and was designed to test an airborne conductor on the TSZ. The airborne conductivity appears to be explained by graphite with some associated silicification. A mineralized section (1-3% pyrite) in silicified felsic volcanics occurring from 47.5 to 57.5m is considered favourable for gold mineralization. Logging and sampling of holes 07, 16, and 17 are continuing. Assay results reported to date were from rush samples; and are only part of the samples taken from holes G-20-14, and G-20-15.
This recent work supports the fact that the Tyrrell Shear Zone is a major gold bearing structure with a strike length of 8 km. Goldeye intends to review the present drill results to refine the geological controls on the BIG DOME, the BIG DOME HIGH GRADE and the QUARTZ STOCKWORK MINERALIZATION. A new drill program will be designed to follow-up the new discovery and the high grade zone when all the assays have been received.
Goldeye will start its basemetal/gold project located south of Dryden in late July.