Goldeye Explorations Limited
TSX VENTURE : GGY

Goldeye Explorations Limited

October 26, 2005 13:36 ET

Goldeye Explorations Hits Visible Gold On The Big Dome Zone, Tyrrell Twp., NE Ontario

TORONTO, ONTARIO--(CCNMatthews - Oct. 26, 2005) - Goldeye (TSX VENTURE:GGY) is pleased to announce that hole G05-22 collared at 121+50E/96+80N and drilled @ -56 degrees has intersected significant visible gold over 3.5cm at 200.8m. The auriferous quartz vein occurs within a sheared siltstone containing 2-3% pyrite/ graphite extending from 199.1 to 202.2m. Hole G05-22 will be drilled to a depth of 400m, designed to test the down dip extension of the Big Dome Gold Zone discovered in 1998.

In 1998, hole G98-09 (121+00E/97+00N) drilled @ - 45 degrees intersected 1.4m of 149g/t Au with visible gold between 271.2 to 272.6m. Hole G98-07 intersected 165.9m of 0.26g/t Au from 157.9 to 323.6m including 9.2 g/t Au from 205.2 to 206.10 and 6.43g/t Au with visible gold from 210.6 to 211.20m.

A program of 3D DHIP has identified a strong zone of chargeability extending to the west and to depth associated with these visible gold occurrences. Additional holes are being logged to the east and west with 3D DHIP to further define the relationship of gold mineralization to areas of high chargebilty and high resistivity to depths of over 400m.

The amount of visible gold found to date in holes G05-22, G98-09 and G98-07 indicates that additional drilling is warranted on the Big Dome.

The Tyrrell project is located 90 km south of Timmins and consists of over 200 claim units owned 100% by Goldeye.

Gerald Harron, P. Eng is the qualified person responsible for the technical information contained in this release.

Goldeye is a Canadian exploration company with projects in Region V of central Chile, Northwestern Ontario (Sandy Lake, Gold Rock) and Northeastern Ontario (Fawcett and Tyrrell Twp.)

Goldeye's web-site address is http://www.pathcom.com/%7Egoldeye

Note: We have replaced the tilde symbol with '%7E' in the above URL.

Shares issued: 26,775,681

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

Contact Information

  • Goldeye Explorations Limited
    B. Webster
    C.E.O and President
    (905) 731-9367
    (905) 731-9312 (FAX)