Goldeye Explorations Continues to Produce Strong Gold Results at Weebigee
2014年3月17日 - 9:48PM
Marketwired Canada
Goldeye Explorations Limited (TSX VENTURE:GGY) is pleased to provide an update
on the winter drilling program at its Weebigee Project near Sandy Lake,
Northwestern Ontario. Final assay certificates have been received for holes
BK14-08, 10, 11, 12, 14, 16 and 18. Highlights of gold assay results (core
intercept composites) include:
KNOLL ZONE
BK14-16 8.59 g/t over 6.83 metres (core length; not capped)
Incl. 18.96 g/t over 2.55 metres (core length; not capped)
BK14-12 6.76 g/t over 7.03 metres (core length)
BK14-11 6.71 g/t over 5.47 metres (core length)
Incl. 18.26 g/t over 1.4 metres (core length)
RvG4 ZONE
BK14-18 23.15 g/t over 3.97 metres (core length; not capped)
Drilling during the current program continues to extend the strike and depth
extent of the Knoll Zone. Knoll consists of a steeply dipping, highly altered
and quartz veined high strain zone within a package of broadly biotite altered
felsic quartz-feldspar crystal tuff. The hanging wall contact of the main gold
zone at Knoll is marked by a late, mafic to ultramafic dyke that has exploited
the extensional structure hosting the intense alteration and quartz veining.
New Results Table
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Drill Hole From To Interval Composite Assay Comment
(metres) (metres) (metres) g/t Au
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BK14-08 36.23 39.74 3.51 CL 5.78 Knoll
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Incl. 37.56 39.74 2.18 CL 8.59
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BK14-10 9.4 11.2 1.8 CL 4.54 Knoll
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BK14-10 38 40.5 2.5 CL 4.86 FW Zone
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Incl. 38 39.15 1.15 CL 9.59
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BK14-11 15 27.57 12.57 CL 3.72 Knoll
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Incl. 22.1 27.57 5.47 CL 6.71
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Incl. 22.1 23.55 1.45 CL 18.26
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BK14-12 20.7 34.97 14.27 CL 4.57 Knoll
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Or 20.7 34.97 5.5 TT 4.57
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Incl. 20.7 27.73 7.03 CL 6.76
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Or 20.7 27.73 3.0 TT 6.76
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BK14-12 68.37 70.27 0.55 TT 9.77 FW Zone
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BK14-14 52 61.65 9.65 CL 2.58 Knoll
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Or 52 61.65 3.2 TT 2.58
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BK14-16 78.33 85.16 6.83 CL 8.59 Knoll
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Or 78.33 85.16 6.83 CL 7.82 Cap 50g/t
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Incl. 78.33 80.88 2.55 CL 18.96
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Or 78.33 80.88 2.55 CL 16.88 Cap 50g/t
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BK14-18 43.56 47.53 3.97 CL 23.15 RvG4
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Or 43.56 47.53 3.97 CL 21.14 Cap 50g/t
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And 57.39 61.40 4.01 CL 7.33
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CL = Core Length
TT = Estimated True Thickness
True thickness (TT) has been estimated where holes have intersected the zone at
a relatively low core angle and the geometry of the zone is understood. Core
Lengths (CL) where presented represent approximately 50 to 80% of the true
thickness of the assayed zone. All individual gold assays have been arbitrarily
capped at 50 g/t and results where this capping applies have been noted in the
result tables.
Blaine Webster states: "These latest drill results are very encouraging in terms
of both the continuity and grade of mineralization at Knoll. We are also excited
about the significant gold intersection (23.15 g/t over 3.97 metres) drilled at
RvG4, located on strike and 500 metres NW of Knoll. We have a good handle on the
geometry of the zone at Knoll and it is open in all directions. We are currently
working out the strike and dip attitudes of gold mineralization at RvG4 by
drilling a number of short holes. The relationship between RvG4 and Knoll zones
is not yet known, however alteration, quartz veining, and host lithologies are
similar. There are a number of occurrences of visible gold in drill core between
43 and 62 metres downhole in drill hole BK14-18 (RvG4). We believe this is
extremely encouraging.
Another area of interest tested during this program is a large fold nose located
beneath the Northwest Arm of Sandy Lake. This structure has been defined by
ground and airborne magnetic surveys. Hole BK14-19 was drilled from the ice
across a discordant feature along the fold nose. Highly altered (hematite,
serpentine, magnetite) ultramafic and biotite-rich sedimentary rocks were
intersected throughout the hole. Detailed magnetic surveys are planned to
further refine drill targets along this regional structure."
Table of Previously Released Results
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Drill Hole From To Interval Composite Assay Comment
(metres) (metres) (metres) g/t Au
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BK14-01 4.45 9.65 5.20 CL 1.44 Upper Knoll
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13.60 15.60 2.00 CL 1.79 Knoll
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BK14-02 13.10 16.50 1.40 TT 2.89 Upper Knoll
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30.60 33.20 1.09 TT 4.74 Knoll
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BK14-03 34.15 41.00 4.93 TT 12.86 Bernadette
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34.15 41.00 4.93 TT 3.66 Capped at 50
g/t
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Incl. 34.15 35.30 0.83 TT 70.23
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34.15 35.30 0.83 TT 15.45 Capped at 50
g/t
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Incl 34.15 34.50 0.25 TT 230.00
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60.65 62.75 1.51 TT 5.29 Bernadette 2
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BK14-05 14.65 18.15 2.73 TT 12.45 Knoll
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BK14-06 39.50 40.70 0.88 TT 8.85 Knoll
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BK14-07 51.80 58.00 2.05 TT 12.17 Knoll
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Incl. 51.80 55.70 1.29 TT 18.69
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CL = Core Length
TT = Estimated True Thickness
True thickness has been estimated where holes have intersected the zone at a
relatively low core angle and the geometry of the zone is understood. Individual
gold assays have been arbitrarily capped at 50 g/t in some of the results
presented above.
A table that includes drill hole collar coordinates, azimuths and dips follows.
Dill Hole Coordinates
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Drill Hole East North Elevation (m) Azimuth Dip Depth (m)
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BK14-01 474178.7 5879387.5 277.6 263 45 93.0
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BK14-02 474178.7 5879387.5 277.6 263 79 51.0
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BK14-03 474194.8 5879393.1 277.9 74 45 123.0
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BK14-05 474177.9 5879362.4 276.7 273 44 93.0
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BK14-06 474177.9 5879362.4 276.7 270 79 60.0
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BK14-07 474177.9 5879362.4 276.7 278 80 99.0
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BK14-08 474189.7 5879407.7 278.1 264 44 120
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BK14-10 474176.1 5879341.5 274.7 273 43.5 60.0
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BK14-11 474176.1 5879341.5 274.7 271 63 50.0
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BK14-12 474176.1 5879341.5 274.7 271 73.5 84.0
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BK14-14 474199.1 5879329.0 275.6 235 79.5 102.0
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BK14-16 474203.4 5879335.9 275 274 65 90.0
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BK14-18 473999.7 5879828.8 275.8 109 47 90.0
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Drill holes BK14-04, 09 and 17 have been sampled and sent for analysis. The
remaining holes (BK14-13, 15, 19, 20, 21 and 22) will be logged and sampled over
the next two weeks. Drilling is expected to continue for at least one more week.
A preliminary drill plan and sections will be posted on the Goldeye website
(www.goldeye.ca) soon.
Project Logistics and QA/QC
All analyses reported in this release are from assay certificates which passed
Activation Laboratories QA/QC procedures. All diamond drilling, logging and
sampling was supervised in the field by David R. Jamieson, P.Geo. Drill core was
logged at the Goldeye core facilities in Sandy Lake. Drill core was logged and
samples marked off by Goldeye geological staff. Marked samples were cut by a
diamond bladed core saw, with one half bagged in plastic for sampling and the
remaining half archived at the Sandy Lake core facility. Standard and blank
samples were included by Goldeye personnel in the sample stream at the core
facility at a rate of approximately every 20 samples. All assays reported in
this release have passed Goldeye's QA/QC program. Drill core in which visible
gold was noted by the geologist was cut under the geologists supervision to
facilitate equal representation of visible gold in both sampled and archived
drill core. Where visible gold was noted only in one half of the cut core, this
half was archived. Samples were placed in rice bags and shipped by Goldeye
personnel by winter road to Red Lake. The samples were picked up in Red Lake by
Activation personnel and delivered to Activation's Thunder Bay facility. Samples
were fire assayed for gold. Any analysis greater than 5000 ppb was reassayed
using a gravimetric finish. Activation Laboratories is a fully accredited
laboratory and conforms to the requirements of ISO/IEC 17025 (ISO 9001) and
CAN-P-1579 by the Standards Council of Canada. Assays reported in ppb were
converted to g/t (grams gold per tonne of rock). Screen metallic assaying was
used where visible gold was observed in drill core.
The contents of this news release have been reviewed and approved by David R.
Jamieson, P.Geo., Senior Technical Advisor for Goldeye, and Blaine Webster,
President and CEO of Goldeye, both of whom are qualified persons as defined in
NI 43-101.
On behalf of the Board of Directors,
Blaine Webster, P.Geo., President and CEO
About the Weebigee Project
Goldeye's 100% owned Weebigee Project is located 230 kilometres north of Red
Lake in Northwestern Ontario and is comprised of 363 claims totaling
approximately 6000 hectares. The NW Arm claim block covers approximately 20% of
the total project area and hosts the highest density of gold showings in the
Sandy Lake Greenstone Belt.
The project is adjacent to Sandy Lake First Nation (population approx. 3000)
which has excellent infrastructure including an airport with daily direct
flights to Winnipeg, Red Lake and Sioux Lookout and winter road connection to
Red Lake. All weather access roads are located within one kilometre of the
Knoll, Bernadette and RvG4 areas. Goldeye recently signed a comprehensive
Exploration Agreement with Sandy Lake First Nation and is pleased to have a
strong, mutually beneficial relationship with the people of Sandy Lake First
Nation.
About Goldeye
Goldeye is a Canadian gold-focused exploration company with properties in
mineral rich, politically secure jurisdictions having long traditions of mining.
Weebigee is Goldeye's flagship project in Canada. Goldeye also holds a 24.5%
interest in the Todd Property in British Columbia's Golden Triangle, a 100%
interest in the Gold Rock and West Shining Tree properties in Ontario, and
additional claims in Tyrrell Twp. In Chile, Goldeye owns 100% of the Sonia-Puma
property located 180 km north of Santiago.
Additional information can be found at www.goldeye.ca.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking information which is not comprised of
historical facts. Forward-looking information involves risks, uncertainties and
other factors that could cause actual events, results, performance, prospects
and opportunities to differ materially from those expressed or implied by such
forward-looking information. Such statements include the following: "Detailed
magnetic surveys are planned to further refine drill targets along this regional
structure.", "The remaining holes (BK14-13, 15, 19, 20, 21, 22) will be logged
and sampled over the next two weeks.", " Drilling is expected to continue for at
least one more week.", and "A preliminary drill plan and sections will be posted
on the Goldeye website soon." Although the Company believes that the assumptions
and factors used in preparing the forward-looking information in this news
release are reasonable, undue reliance should not be placed on such information,
which only applies as of the date of this news release, and no assurance can be
given that such events will occur in the disclosed time frames or at all. The
Company disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new information, future
events or otherwise, other than as required by law.
Neither 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Blaine Webster, P. Geo.
President and CEO
416-315-9708
bwebster@goldeye.ca
Robin Luke Webster
Manager, Corporate Affairs and Community Relations
416-877-6389
rwebster@goldeye.ca
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