Goldeye - press release March 14, 2007

Chile (Sonia-Puma) | Ontario ( Tyrrell | Boyer Lake | Gold Rock | Sandy Lake | McFaulds Lake ) | British Columbia ( Todd Creek)

press release

Goldeye Explorations Limited

105 West Beaver Creek Rd., Suite 5A, Richmond Hill, ON, L4B 1C6, Canada

TSX Venture Exchange Symbol GGY
Shares issued: 
53,337,666

Goldeye and Polar Mining Chip and Grab Samples From Sonia Vein Return 0.42g/T Au and 265g/T Ag Over 10m and 1.49g/T Au 462g/T Ag Over 4m. Zone Defined Over 700m Strike Length.

Toronto, Canada (CCNMatthews, March 14, 2007) – Goldeye Explorations Ltd. and Polar Mining Corporation are pleased to announce the results from a first phase chip and grab sampling program on the Sonia vein system located in region V, Chile. A total of 205, one-metre long chip samples were collected over a horizontal strike length of approximately 700 metres and reflect a vertical interval of 315 meters over the strike distance. The vein trends in a north-northeasterly direction, transecting an east-west trending mountain range.

The vein system varies from sheeted stockwork quartz stringers to drusy cockcomb quartz. Stringers of quartz and brecciated quartz are also present within the Sonia vein. At higher elevations within the Sonia vein system cellular boxworks of hematite goethite with indication of copper bloom but no indication of sulphide minerals are common due to the extensive surface weathering. Disseminated chalcopyrite, bornite, galena in narrow veinlets occur along the contact with andesite at lower elevations. The samples have been delivered to Actlabs Chile S.A., with final analyses to be performed at Activation Laboratories Ltd. in Ancaster, Ontario. It is anticipated that the results from this detailed sampling work will permit the implementation of a 1,000 metre drill program as a preliminary test of the zone at greater depth and below the oxidized zone. Detailed geological work will now continue on the Condor and Paso del Inca vein systems, which are also located on the Sonia property.

Highlights of the sampling program:

Channel # 

Length 

Grade Gold g/t 

Grade Silver g/t 

Remarks

500S 

2m 

0.17 

342 

Open to east 

158 - 500S 

 

 

 

Limited outcrop 

158S 

1m 

0.56 

Open to west 

122S 

5m 

7.75 

218

Previously reported 

117S 

1m 

0.21 

178 

 

91S 

1m 

12.1 

298 

 

62S 

1m 

0.11 

180 

 

41S 

3m 

0.11 

35 

Open to west 

41S 

2m 

0.27 

151

 

30S 

10m

0.42 

265 

Open to west 

20S 

4m 

1.49 

462 

Open to west 

10S 

1m 

1.37 

84 

Open to west 

1m 

0.10 

57 

Open to west 

0 – 70N 

 

 

 

No Outcrop 

70N 

1m 

2.86 

543 

Composite grab 

76N 

1m 

1.23 

77 

Composite grab 

85N 

1m 

7.29 

255 

Open to west 

85N– 134N 

 

 

 

No Outcrop 

134N 

1m 

1.46 

83 

Composite grab 

151N 

1m 

0.33

38 

Open to east 

165N 

2m 

0.77

38 

Open to east 

177N 

1m 

0.49 

53 

 

188N 

1m 

0.16 

70 

 

194N 

2m 

2.58 

322

Open to east 

Further geological study is required prior to establishing the true widths of the mineralization. Goldeye and Polar are encouraged with the strike length and grade of gold and silver mineralization located on the Sonia vein at this early stage of the program. A follow up program consisting of detailed mapping and geophysical surveying, as well as petrographic analysis, is proposed to determine mineralization controls prior to diamond drill testing this target. It is anticipated that the drill program will commence in April.

Elsewhere on the property, one hundred and five chip and grab samples collected from the Condor vein, located 4.5 km to the west of Sonia, have been submitted for analyses. An historic composite chip sample (1.5 metres x 3 metres) from this target assayed 4.76 g/t Au and 15g/t Ag. Other untested vein systems in the area will be sampled in the next phase program. Assay results from these samples are expected within the next month.

The Sonia vein system varies from sheeted quartz stringers to drusy cockcomb quartz stringers. Stringers of quartz and brecciated quartz are also present. At higher elevations within the Sonia vein system, cellular boxworks of hematite-goethite with indications of copper bloom, but no indication of sulphide minerals, are common due to extensive surface weathering. Disseminated chalcopyrite, bornite and galena in narrow veinlets occur along the contact of the Sonia vein with andesite at lower elevations. The samples were assayed at Actlabs Chile S.A. using standard fire assay techniques, with final multi- element analyses performed at Activation Laboratories Ltd. in Ancaster, Ontario (ISO accreditation). Blank and duplicate samples were inserted into the sample stream at random intervals for quality control/quality assurance purposes. No obvious discrepancies are noted in the analytical results from these samples.

The project is a 50:50 Joint Venture with Polar Mining Corporation, and is located in a relatively accessible part of Region V, Chile.

In other news Goldeye and Polar have signed a 3,000 meter drill contract for the Todd Creek property located in the Stewart area of B.C., where several previously described promising targets are to be drilled during the summer.

Goldeye is a Canadian mineral exploration company acquiring, exploring and advancing properties in Canada and Chile. Blaine Webster, president, and Gerald Harron independent geological consultant, both qualified persons as defined by National Instrument 43-101, supervised the preparation of the technical information in this release.

For further information please contact B. Webster, C.E.O and President at 905-886-2538, Fax 905-886-8210. Goldeye’s web-site address is www.goldeye.ca.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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