Goldeye Explorations Limited
TSX VENTURE : GGY

Goldeye Explorations Limited
Polar Star Mining Corporation
TSX VENTURE : POS

Polar Star Mining Corporation

November 27, 2007 12:47 ET

Goldeye and Polar Star Intersect 8.29 g/t Au and 2.41% Cu Over 1.99 Metres on the Todd Creek Project, B.C.

RICHMOND HILL, ONTARIO--(Marketwire - Nov. 27, 2007) - Goldeye Explorations Limited (TSX VENTURE:GGY) and Polar Star Mining Corporation (TSX VENTURE:POS) are pleased to announce that assay results have been received from the previously announced 12 hole drill program, totaling 2,815 metres, on the 122 square kilometer Todd Creek Project, located 35 kilometres northeast of Stewart, B.C. The drill program tested several known target areas, as well as targets defined by induced polarization ("IP") and mobile metal ion ("MMI") soil geochemical surveying. The property hosts numerous large alteration zones, with potential for epithermal targets, possibly underlain by one or more porphyry copper-gold systems, as well as volcanogenic massive sulphide mineralization. A total of 1,613 core samples, including quality control/quality assurance samples were submitted to ALS Chemex Laboratories in North Vancouver for analyses.

Nine of the holes (NAZ07-01, 01A, 01B, 02 and 02A, NEZ-07-01 and 01A, and AM07-01 and 01A) were drilled within the large Orange Mountain Target Area. The remaining 3 holes (MZ07-01 and SZD01-01A, including hole SZD07-01, which was abandoned due to technical problems), were drilled in the South Zone Deposit and its northern extension, the Mext Zone target, which are located about 5.5 km south of the Orange Mountain area.



HIGHLIGHTS:

ORANGE MOUNTAIN TARGET AREA
a) North A Zone
-Hole NAZ07-01 intersects 8.29 g/t Au and 2.41% Cu over 1.99 metres, within
a broader mineralized zone which reported 1.63 g/t Au and 0.41% Cu over
12.37 metres.
-Hole NAZ07-02A intersects 12.80 g/t Au over 1.50 metres within a broader
zone which assays 4.40 g/t Au over 4.50 metres.
b) North B Zone
-Hole NEZ07-01 intersects 9.24 g/t Au and 1.1% Cu over 0.78 metres within
a broader mineralized halo grading 2.94 g/t Au over 2.58 metres.
-Hole NEZ07-01A intersects 7.32 g/t Au and 2.95% cu over 1.01 metres.

MEXT ZONE
-Hole MZ07-01 intersects 8.57 g/t Au and 0.55% Cu over 1.82 metres.


The details for the intercepts in all of the 12 diamond drill holes are listed in the table below.

The large Orange Mountain Target Area has dimensions of 1.5 by 2 kilometres and represents an altered zone hosted by volcanic rocks. Induced Polarization ("IP") surveying carried out as part of the recent exploration program, delineated four main zones of chargeability anomalies in the vicinity of the North Zones. The anomalies are interpreted to become wider and stronger at depth, and appear to coalesce in the vicinity of Fall Creek, where many of the historic gold-copper showings are located. The Fall Creek area appears to be the focus of a large mineralizing system and the IP anomalies remain open to both the north and south. These IP anomalies were the target of the current drill program on the North A and B Zones. Based on the geophysical surveying and historic work by Noranda, the North A zone has a strike length of at least 500 metres, and is still open in both directions.

The samples were analysed by ALS Chemex Laboratories in North Vancouver using standard analytical procedures. Blank and standard samples were inserted into the sample stream for quality control/quality assurance purposes. No significant discrepancies were noted in the analytical results from these samples.

The 2007 exploration program has not only expanded several of the previously known zones, but also has identified several new targets with significant gold and copper values. The results of the recent work are being incorporated into the property database, which will lead to an aggressive exploration program in 2008.

Goldeye Explorations Limited and Polar Star Mining Corporation are exploring the Todd Creek property on a 50:50 basis.

About Goldeye

Goldeye is a Canadian mineral exploration company acquiring, exploring and advancing properties in Canada and Chile. Blaine Webster, P. Geo., President, and William Hamilton, P. Geo., geological consultant, both Qualified Persons as defined by National Instrument 43-101, supervised the preparation of the technical information contained in this release.

About Polar Star

Polar Star (TSX VENTURE:POS) was created to acquire advanced stage exploration properties focusing on gold, copper-gold and uranium, and is currently participating in the acquisition, exploration and development of mineral claims in Canada and Chile.



TABLE OF TODD CREEK DRILL RESULTS
---------------------------------------------------------
HOLE No. FROM TO WIDTH Au (g/t) Cu(%)
---------------------------------------------------------
NAZ07-01 116.50 128.87 12.37 1.63 0.41
---------------------------------------------------------
Incl. 120.10 122.09 1.99 8.29 2.41
---------------------------------------------------------
Incl. 120.10 120.92 0.82 19.52 5.83
---------------------------------------------------------

---------------------------------------------------------
NAZ07-01A 110.98 115.50 4.52 3.40
---------------------------------------------------------
Incl. 112.00 113.50 1.50 7.12
---------------------------------------------------------
157.80 162.26 4.46 2.15
---------------------------------------------------------
Incl. 160.70 162.26 1.56 3.45
---------------------------------------------------------

---------------------------------------------------------
NAZ07-01B 81.70 82.61 0.91 2.92 0.11
---------------------------------------------------------

---------------------------------------------------------
NAZ07-02 22.11 23.19 1.08 0.78
---------------------------------------------------------
91.00 94.30 3.30 1.06 0.34
---------------------------------------------------------
Incl. 91.65 93.05 1.40 2.08 0.74
---------------------------------------------------------
141.24 141.38 0.14 1.63 1.55
---------------------------------------------------------

---------------------------------------------------------
NAZ07-02A 245.84 254.25 8.41 1.00
---------------------------------------------------------
Incl. 245.85 247.00 1.15 1.975
---------------------------------------------------------
300.00 304.50 4.50 4.40
---------------------------------------------------------
Incl. 300.00 301.50 1.50 12.80
---------------------------------------------------------

---------------------------------------------------------
NEZ07-01 26.08 27.70 1.62 1.48 0.73
---------------------------------------------------------
54.42 57.00 2.58 2.94 0.34
---------------------------------------------------------
Incl. 54.42 55.20 0.78 9.24 1.1
---------------------------------------------------------

---------------------------------------------------------
NEZ07-01A 27.11 27.80 0.69 1.39 0.15
---------------------------------------------------------
51.91 52.92 1.01 7.32 2.95
---------------------------------------------------------
59.95 60.03 0.68 0.829 0.36
---------------------------------------------------------
66.33 67.39 1.06 0.824 0.27
---------------------------------------------------------

---------------------------------------------------------
AM07-01 geochemically anomalous values
---------------------------------------------------------

---------------------------------------------------------
AM07-01A geochemically anomalous values
---------------------------------------------------------

---------------------------------------------------------
MZ07-01 387.88 397.00 9.12 2.07 0.15
---------------------------------------------------------
Incl. 387.88 389.70 1.82 8.57 0.55
---------------------------------------------------------
and 388.57 389.70 1.13 12.25 0.66
---------------------------------------------------------
SZD07-01A 120.48 123.00 2.52 3.12
---------------------------------------------------------
SZD07-01 Abandoned
---------------------------------------------------------


Shares issued: 73,756,986

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

Contact Information

  • Goldeye Explorations Limited
    B. Webster
    C.E.O and President
    (905) 886-2538
    (905) 886-8210 (FAX)
    Website: www.goldeye.ca
    or
    Polar Star Mining Corporation
    D. Willock
    C.E.O. and President
    (416) 368-3949