Goldeye Explorations Limited
TSX VENTURE : GGY

Goldeye Explorations Limited

November 14, 2005 09:51 ET

Goldeye Hits High Grade Gold and 'New Zone', Tyrrell Twp. NE Ontario

TORONTO, ONTARIO--(CCNMatthews - Nov. 14, 2005) - Goldeye (TSX VENTURE:GGY) is pleased to announce that DDH G05-22 has intersected a new high grade gold zone on the Big Dome and a new zone that indicates the mineralized system is improving with 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.



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Drill hole Intersection Width Grade Au Comments
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G-05-22 199.5 to 200.55m 2.05m 217.52g/t Sheared siltstone
Big Dome with 2-3% pyrite
Section minor graphite
121+50E
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G-05-22 200.6 to 201.0 0.40m 1,097.07g/t Strong pyrite green
selvage freegold
quartz vein
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G-05-22 294.3 to 328.1 33.8m 0.27g/t Au 5 samples from 1.15
to 1.27g/t Au 'New
Zone'
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H-05-29 385m to 445m 60m To be Highly altered
Hydro assayed felsic volcanics /
Creek seds with
Section disseminated pyrite.
108+50E Undercut hole DDH-23
which assayed 6.5g/t
Au over 7.5m in an
interval that
assayed 4.28g/t Au
in 1995.
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The lithology hosting the high grade gold mineralization has been intersected over a strike length of 600m with gold values of 3 g/t Au over 3 to 4m from 150 to 600m to the west. Inversions on the down hole IP data indicate the zones are thick and well mineralized. Diamond drilling will continue to test both zones.

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.), 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.

Goldeye's web-site address is 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)