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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
Shares issued: 31,940,682
March 3, 2006
Goldeye hits 36.4 g/t Au over 1 metre, extending high grade zone by 130m to depth in undercut of 2005 Big Dome hole (80.7g/t Au/2m), Tyrrell Twp. NE Ontario
Goldeye is pleased to announce that DDH GG-06-26 intersected 36.4 g/t gold over 1m in a 130m undercut of a 2005 drill hole. Three earlier (1998, 2005) intersections on the Big Dome grade in excess of 80.6 g/t (2.36 opt) Au over 2 metres. Assay results for 25 of 186 samples from the current drill program have been received, 10 of which have been resubmitted for metallic analysis. The 25 samples averaged 0.45g/t Au over 26.9m indicating a wide, highly anomalous gold zone associated with high-grade veins.
A geological compilation of Big Dome drilling has identified a large feldspar porphyry intruding mafic volcanic and sedimentary rocks in the Tyrrell Shear Zone. The high-grade intersections occur in adjacent lithologies at the top and bottom of the felsic intrusive. 3D modeling program results indicating three 2m wide veins separated by 30 to 40m in DDH G-05-23 point to an ideal development site for a narrow-vein, high-grade mining operation.
A larger drill has been requested from the contractor (Bradley Brothers) to continue drilling the high-grade mineralization to depth.
Swastika Laboratories conducted FA-AAS gold analyses on samples submitted by Goldeye. Samples containing more than 1 g/t Au, or every tenth sample, were re-analyzed to document laboratory precision.
|
Drill hole |
Intersection |
Width |
Grade Au |
Comments |
|
G-06-26 |
509 to 512 |
3m |
13.1g/t Au 36.4g/t Au |
High-grade quartz vein bounded by highly altered (iron carbonate) siltstone with 2.5% pyrite. Multi phase quartz vein with visible gold. Sheared siltstone with 2.5% pyrite minor graphite. |
DDH G-06-24, an overcut 25m above G-05-22 targeting the upper zone high-grade vein, was diked out in the target area. Hole G-06-25 25m east of G-05-22 that also targeted the G-05-22 high-grade zone intersected 0.42g/t Au over 12.75m from 112.25m to 125m.
Although diabase dikes disrupt the upper zone, it will continue to be tested by holes that are designed to test the lower zone. Magnetic surveys indicate the upper zone along strike will be less affected by the diabase dikes. In 1998, drill samples from similarly altered metasedimentary and volcanic rocks 600 metres to the west assayed 3g/t over 3m at shallow depths.
In other news, preparation to start building the road to the Sonia vein in central Chile has started. Also, Goldeye has signed a 1200m drill contract to test the Todd property in the Stewart gold camp in NW British Columbia. The drill holes will test the South Zone gold –copper deposit where previous drilling returned 6.12g Au/t and 0.35% Cu over 6.1m, and 8.83g Au/t and 0.45% Cu over 11.7m.
Goldeye invites investors to visit Booth 2923 at the PDAC convention from March 5 to 8, 2006 to see high grade gold from the Big Dome drill program
The Tyrrell project is located 90 km south of Timmins and consists of over 200 claim units owned 100% by Goldeye, a Canadian exploration company with projects in NE Ontario (Fawcett and Tyrrell Twp.), B.C. (Todd Creek property, Stewart gold camp), NW Ontario (Sandy Lake, Gold Rock) and Region V of central Chile. Gerald Harron, P. Eng. is the qualified person responsible for the technical information contained in this release.
For further information please contact B. Webster, C.E.O and President at 905 731 9367, Fax 905 731 9312. Goldeye’s web-site address is www.pathcom.com/~goldeye