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Chile (Sonia-Puma) | Ontario ( Tyrrell | Boyer Lake | Gold Rock | Sandy Lake | McFaulds Lake ) | British Columbia ( Todd Creek)
Goldeye Explorations Limited
27 Blue Spruce Lane, Thornhill, ON, L3T 3W8, Canada
September 23, 2004
TSX trade symbol: GGY
Goldeye Explorations Limited (TSX Venture Exchange: GGY) wishes to announce the reorganization of its Sonia-Puma property in Central Chile. Originally, Goldeye had certain rights to acquire concessions or claims (called pedimentos in Chile) consisting of 12 pedimentos containing 3100 ha. Under Chilean mining law, certain payments and taxes are payable during the permitting process in order to maintain the pedimentos in good standing. Rather than make a tax payment, Goldeye decided that it would be more economical to allow the pedimentos to expire and replace them with new pedimentos. As a result, Goldeye acquired the rights to 14 new pedimentos containing 3,550 ha. The new pedimentos, which have been called the Sonia Property, cover most of the geology of interest in the original pedimentos. A further 10 pedimentos, containing 2,450 ha, were also filed but Goldeye has second priority on these as they were previously acquired by a third party which has first priority until such time as its interest is abandoned or expires.
The area has seen intensive staking activity this year. The Sonia Property contains the Sonia low sulphidization epithermal gold-silver vein that assays 7.75g/t Au and 218g/t Ag over 5 meters. A second chip sample across the vein assayed 0.84g/t Au and 284 g/t Ag across 11m. An additional 20 samples taken in this sector returned values from 0.047 g/t to 1.0g/t Au with 55.1 g/t Ag to 180 g/t Ag respectively.
The Meridian Gold Inc. El Penon deposit located in Region II of northern Chile is an example of a low sulphidization gold-silver deposit.
Two other epithermal vein systems, the Paso del Inca Zone and the Escondida-Condor Zone occur on the west central part of the Sonia property.
In the Paso del Inca area 2.5 km west of Sonia, a series of gold-silver-bearing veins trending north to northeast occur within a zone about 750m wide extending north from a quartz-feldspar porphyry flow dome. Gold and silver values range from 0.02 g/t Au with 4.1 g/t Ag across 4.5m to 1.13 g/t Au and 87.9 g/t Ag across 2.4m.
At the Escondida-Condor Zone 1.3km to the west-southwest of the Paso del Inca, two fissure type quartz vein systems have yielded values from 0.067 g/t gold with 2.5 g/t silver across 1.9m to 4.76 g/t gold with 15.9 g/t silver across 1.5m.
From a regional tectonic perspective, the age of the mineralized quartz-feldspar dykes at Sonia and Paso del Inca are reported to be 17.8 to 19.3 Ma (Early to Middle Miocene). This is the same age as the volcanic units and gold mineralization in the Maricunga and El Indio gold belts to the northeast which host, for example, the Coipa, Santa Cecilia, Rufgio and El Indio-Tambo high sulphidization epithermal gold silver deposits and the Marte and Lobo porphyry-gold deposits.
Goldeye intends to build an access road up to the Sonia, Paso del Inca and Escondida-Condor vein systems with commencement of a program of trenching, geologic mapping and sampling in late October.
G.Harron P. Eng is the qualified person on this project.
Shares Outstanding:18,910,180 September 23, 2004
Goldeye's web-site address is http://www.pathcom.com/~goldeye
FOR FURTHER INFORMATION PLEASE CONTACT:
Goldeye Explorations Limited Blaine Webster Chairman and C.E.O.
(905) 731 9367 (TEL) (905) 731 9312 (FAX)
Goldeyes web-site address is http:www.pathcom.com/~goldeye
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.