Goldeye Explorations Limited
TSX VENTURE : GGY

Goldeye Explorations Limited

March 14, 2007 14:27 ET

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, ONTARIO--(CCNMatthews - March 14, 2007) - Goldeye Explorations Ltd. (TSX VENTURE:GGY) 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.



Highlights of the sampling program:
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Channel # Length Grade Gold g/t Grade Silver g/t Remarks
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500S 2m 0.17 342 Open to east
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158 - 500S Limited outcrop
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158S 1m 0.56 6 Open to west
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122S 5m 7.75 218 Previously reported
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117S 1m 0.21 178
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91S 1m 12.1 298
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62S 1m 0.11 180
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41S 3m 0.11 35 Open to west
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41S 2m 0.27 151
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30S 10m 0.42 265 Open to west
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20S 4m 1.49 462 Open to west
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10S 1m 1.37 84 Open to west
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0 1m 0.10 57 Open to west
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0 - 70N No Outcrop
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70N 1m 2.86 543 Composite grab
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76N 1m 1.23 77 Composite grab
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85N 1m 7.29 255 Open to west
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85N- 134N No Outcrop
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134N 1m 1.46 83 Composite grab
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151N 1m 0.33 38 Open to east
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165N 2m 0.77 38 Open to east
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177N 1m 0.49 53
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188N 1m 0.16 70
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194N 2m 2.58 322 Open to east
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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.

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Contact Information

  • Goldeye Explorations Limited
    B. Webster
    C.E.O and President
    (905) 886-2538
    (905) 886-8210 (FAX)
    Website: www.goldeye.ca