Goldeye Explorations Limited
TSX VENTURE : GGY

Goldeye Explorations Limited

August 02, 2012 09:15 ET

Goldeye Updates Exploration Plans for the Hanging Wall Zone and IP Anomalies Along Strike with the Recent Temex Discovery

TORONTO, ONTARIO--(Marketwire - Aug. 2, 2012) - Goldeye Explorations Limited (TSX VENTURE:GGY) ("Goldeye" or "the Company") is pleased to announce that it has identified 12 high potential targets to further explore the Hanging Wall Shear Zone (HWSZ) which returned encouraging results this past winter. This zone is immediately along strike with the new high grade gold zone announced by Temex Resources Corp. ("Temex") in a press release dated July 23, 2012. The program will also test medium to strong spectral IP anomalies interpreted to consist of sulphides in a silicified matrix of the Hanging Wall rocks along strike with the Juby and Golden Lake occurrences. Grab samples from this area show gold values of 0.5 to 2.0 g/t Au. The Goldeye claims cover a strike length of 6 kilometres along the Tyrrell Shear Zone (TSZ) and host the Hydro Creek, Big Dome, Cigar Lake and HWSZ gold zones (see attached map).

Goldeye's management believes that this HWSZ environment has many similarities with the structures that control a large percentage of the major deposits in the hanging wall of the Porcupine-Destor Fault at Timmins. Goldeye's management has concluded that the results recently reported by Temex support this model and that further exploration could define a new major gold camp.

A further program is being planned to follow up additional defined deeper targets underneath and adjacent to the Big Dome Zone with its flanking East and West zones of higher grade gold mineralization. A plan will be posted on the Goldeye website along with a review of the work on our Athena ground adjacent to Creso's Minto high grade discovery (13.4g/t Au over 82 metres).

ABOUT GOLDEYE

Goldeye is a Canadian gold-focused exploration company with properties in mineral rich, politically secure jurisdictions with long traditions of mining. In Canada, Goldeye holds the Tyrrell, Gold Rock and Sandy Lake properties in Ontario and the Todd property in British Columbia. In Chile, Goldeye has the Sonia-Puma property north of Santiago.

Forward Looking Statements:

This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. The Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

To view the Map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/GoldeyeMap08.pdf.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Goldeye Explorations Limited
    Jorma Hannila
    905-886-2538