Goldeye Explorations Limited
TSX VENTURE : GGY

Goldeye Explorations Limited

March 25, 2009 10:54 ET

Goldeye-Four Additional Gold Targets (Bringing Total to Six) Identified Over 5 km Within "Dilation Section" of the TSZ, Tyrrell Twp., NE Ont.

Big Dome Hole G-32 high grade increases to 43.1 g/t Au over 1.5 m. Hydro Creek Hole G-34 intersects two gold zones, 3.06 g/t Au over 6 m and 2.67 g/t Au over 7.6 m.

TORONTO, ONTARIO--(Marketwire - March 25, 2009) - Goldeye Explorations Limited ("Goldeye") (TSX VENTURE:GGY) is pleased to present the final assays and an overview of the results of its Tyrrell Township 2195 m drill program.

Dilation of the Tyrrell Shear Zone (TSZ) on the Goldeye Claims

Further analysis of the regional geological and structural setting of the (TSZ) on the Goldeye property has been completed. The TSZ strikes east west in MacMurchy Twp. and is deflected to the southeast across the Goldeye claims when it intersects the Tyrrell volcanic pile. This flexure caused a dilation zone to form where late stage intrusions (porphyries and syenites) penetrated the TSZ. Similar structural examples can be cited at Timmins and Kirkland Lake. Goldeye has six resistivity highs across a strike length of 5 km, indicating possible areas of silicification. Two of the resistivity highs correlate with the Hydro Creek and Big Dome Zones. A drill program will be proposed to follow-up on the high grade mineralization on the Big Dome area, to extend La Carte North Zone to the west, and to test a Big Dome look alike" structure 1 kilometer east of the Big Dome. In the year 2000, Hole G-17 intersecting 7.8 m of 0.57 g/t Au was drilled 100 m east of a "resistivity fold' that resembles the resistivity high associated with the Big Dome. At Hydro Creek, the Lacarte North mineralization is noted on surface in a channel sample assay of 5.7g/t Au over 15 m.

A comparison of the geology at Hydro Creek/Tyrrell and Kirkland Lake was made by Roland Ridler, PhD. in 2003 and is posted on the Goldeye website.

Big Dome

Big Dome high grade increases in Hole G-32 from 37.4 g/t Au to 43.1 g/t Au at 427.5 m to 429.0 m when assayed by screened metallics, the method of choice for dealing with coarse grained visible gold mineralization.

Hole G-34 drilling encountered highly altered sediments in the eastern part of the Hydro Creek Zone. This hole intersected 3.06 g/t Au over 6 m from 324.5 to 330.5 m and 2.67g/t Au over 7.6 m from 357.5 m to 365.1 m. Hole G-34 is located 50 m east of hole HC-23, which intersected 4.28 g/t over 14 m Au including 6.42g/t Au over 7.5 m.



Table of Assay Results, Big Dome Zone
Note: Table includes current results and 2005(a) and 1998(b) assays,
widths reported as core lengths

---------------------------------------------------------------------------
Drill Hole Intersection Width Grade

---------------------------------------------------------------------------
G 08-32 427.5 m - 429.0 m 1.5m (4.92 ft) 43.1 g/t Au
(1.26 opt)
---------------------------------------------------------------------------
G 08-33 426.3 m - 429.5 m 3.2 m (10.0 ft) 5.42g/t Au (.157 opt)
Prev. reported
Including 1.2 m 9.43
g/t Au or 0.27 opt Au
---------------------------------------------------------------------------
G 05-23(a) 377.16 m - 379.25 m 2.09 m (6.9 ft) 80.7 g/t Au
(2.36 opt)
Prev. reported
---------------------------------------------------------------------------
G 05-26(a) 509 m - 512 m 3.0 m (9.84 ft) 13.1 g/t Au
(.38 opt)
---------------------------------------------------------------------------
G 98-09(b) 271.2 m - 272.6 m 1.4 m (4.6 ft) 149.28 g/t Au
(4.35 opt)
Prev. reported
---------------------------------------------------------------------------
G 98-07(b) 316 m - 316.65 m .65 m (2.1 ft) 2.35 g/t Au
(.068 opt)
Prev. reported
---------------------------------------------------------------------------


Hydro Creek

Hole H-35 intersected 2g/t Au over 2.1 m in an undercut of hole H-34 that intersected 2.59 g/t Au over 29.4 m from 10 m to 39.4 m. A diabase dike cuts off the target mineralization. Hole H-34 demonstrated that the North Lacarte Zone plunges to the west and is open.

Hole H-36 was drilled 100 m west and 50 m above HC-23 and intersected 6m of 1.18 g/t Au from 300 to 306.5 m.



Table of Assay Results, Hydro Creek Zone

---------------------------------------------------------------------------
Drill Hole Intersection Width Grade

---------------------------------------------------------------------------
H-33 5m - 22.5 m 17.5 m (57.4 ft) 4g/t Au
(0.116 opt)
Prev. reported
---------------------------------------------------------------------------
H-34 10 - 39.4 m 29.4m (96.5 ft) 2.59g/t Au
(0.077 opt)
Prev. reported
---------------------------------------------------------------------------
324.5 - 330.5 m 6m (19.7 ft.) 3.06 g/t Au
G-34 .089 opt Au

357.5 - 365.1 m 7.6 m (24.9 m) 2.67 g/t Au
.078 opt Au
---------------------------------------------------------------------------
H-35 98.6 - 100.7 m 2.1 m 2.04 g/t Au
.06 opt Au
---------------------------------------------------------------------------
H-36 300 - 306.5 m 6.5 m 1.2 g/t Au
.035 opt Au
---------------------------------------------------------------------------


The program's design, and quality assurance is under the control of Gerald Harron P Eng. The diamond drill holes were recommended in a December 2007 43-101 report by Strathcona Mineral Services (Dr. Rheinhard Von Guttenberg, P. Geo.). The drill core samples are cut with a saw, with one-half sent for analyses and the other half archived. The samples are shipped to Swastika Laboratories of Swastika, Ontario and analyzed using standard fire assay techniques and occasionally a screened metallic assay method. For Q/A purposes, Goldeye submits one standard and one blank sample in every batch of 20 samples. The lab also repeats assays and submits standards as part of an internal QA/QC program. The pulps and rejects are stored in Goldeye's facilities for future reference.

Goldeye has three other high potential properties: 1) Sandy Lake (gold), NW Ontario, 2) Todd Creek (gold and polymetallics) in the Stewart Mining Camp, NW B.C., (50% Goldeye) and 3) the Sonia project (gold and silver) in central Chile. Goldeye has been advancing these projects over the past several years and they are all drill ready.

Forward-Looking Statements

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations or projections. Accordingly, readers should not place undue reliance on forward-looking statements. For a more detailed discussions of such risks and other actors, refer to Goldeye Explorations Limited's filings with Canadian securities regulators available on www.sedar.com or the Company's website.

Shares Issued: 85,656,228

The Toronto Stock Exchange Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release and the information contained herein.

Contact Information

  • Goldeye Explorations Limited
    Blaine Webster
    CEO
    (905) 731- 9367