Goldeye Explorations Limited

Goldeye Explorations Limited

October 14, 2010 09:46 ET

Goldeye Commences New Drilling Program at Shining Tree-10,000 Metres Planned

TORONTO, ONTARIO--(Marketwire - Oct. 14, 2010) - Goldeye Explorations Limited (TSX VENURE:GGY) ("Goldeye" or the "Company") is pleased to announce that the diamond drilling contract for the 10,000 metre program has been signed for the Company's Tyrrell properties in the Shining Tree area of Ontario.

The drilling is planned to start on October 15, 2010, with 5,000 metres slated to be completed before Christmas. The entire program is expected to consist of approximately 30 holes and will test and expand the gold mineralization associated with, and adjacent to the Tyrrell Shear Zone ("TSZ").

In addition to the drilling program, Goldeye is exploring a substantial portion of the southern part of its main Tyrrell block with the establishment of a 100 kilometer grid. Geologic mapping, prospecting, soil sampling and geophysics (magnetics and induced polarization) will be employed to provide the initial set of targets for trenching and diamond drilling. Mineralized structures related to and subparallel with the TSZ will receive particular attention.


Goldeye is a Canadian gold-focused exploration company with properties in mineral rich, politically secure jurisdictions with long traditions of mining (Canada and Chile). Goldeye's approach is to advance precious metal deposits to the development stage, employing, in part, technically advanced geophysical techniques and occasionally joint venture funding. The qualified person (within the meaning of National Instrument 43-101) who read and approved this press release for Goldeye is Blaine R. Webster President and C.E.O. of Goldeye.

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