Goldeye Drills More High Grade Gold Intercepts at RvG4 and Bernadette, Including 110 g/t Over 0.3 Metres and 131 g/t Over 0.3...
09 April 2014 - 11:25PM
Marketwired Canada
HIGHLIGHTS:
RVG4 ZONE
BK14-17 9.35 g/t over 4.51 metres, including 110 g/t over 0.3 metres and
19.9 g/t over 0.3 metres (core length; not capped)
BERNADETTE ZONE
BK14-23 10.89 g/t over 3.85 metres, including 131 g/t over 0.3 metres (core
length; not capped), from top of bedrock
Goldeye Explorations Limited (TSX VENTURE:GGY) is pleased to release the assay
results for drillholes targeting three zones: RvG4 (BK14-17, BK14-20, BK14-21,
BK14-22), BERNADETTE (BK14-04, BK14-23), and KNOLL (BK14-09, BK14-23).
RvG4 Zone
Numerous occurrences of visible gold were observed in previously reported
BK14-18 (23.25 g/t over 3.97 metres). BK14-17 drilled from the same set-up but
different azimuth returned gold assays of 110 g/t and 19.9 g/t within a
composite zone assaying 9.35 g/t over 4.51 metres. Holes BK14-20, 21, and 22
were drilled to further delineate the zone. Hole BK14-20 returned assays of 6.63
g/t over 0.3 metres and 11.8 g/t over 0.4 metres within a composite zone
assaying 2.36 g/t over 3.55 metres. BK14-22 returned an assay of 5.51 g/t over
0.67 metres. Holes 17, and 20 were drilled beneath a surface showing known as
RvG4. Holes 18 and 22 were drilled approximately 25 metres along strike to the
southeast of the RvG4 showing. Channel sampling of RvG4 by Goldeye in November
2013 returned gold values of 10.85 g/t over 1.58 metres and 21.64 g/t over 0.86
metres.
Bernadette Zone
Hole BK14-23 collared in highly anomalous gold values related to the Bernadette
Zone. Visible gold was noted in cm scale grey quartz veinlets within weak to
moderately bleached, silicified quartz-eye tuffs. The top of the hole assayed
10.89 g/t over 3.85 metres including 131 g/t over 0.3 metres.
Bernadette and RvG4 Zones would appear to be part of the same system as Knoll,
but outboard of the intense, coherent alteration zone that characterizes Knoll.
At Bernadette and RvG4, gold mineralization is characterized by fine visible
gold in pyritic mm to cm scale quartz veinlets as well as crack-seal quartz
tourmaline veins. The veins/veinlets are surrounded by discrete haloes of
bleaching and silicification and biotitization of quartz-eye tuffs.
Knoll Zone
Gold values of 2.95 g/t over 4.1 metres including 6.6 g/t over 1.5 metres in
BK14-09 and 1.28 g/t over 10.06 metres, including 2.38 g/t over 2.12 metres in
BK14-23 represent the twelfth and thirteenth of thirteen drill holes reported to
date at Knoll with significant gold values. Knoll shows consistent geology,
pervasive strong to intense silica-carb-sericite alteration with higher gold
values associated with intense quartz flooding/veining.
New Results Table
----------------------------------------------------------------------------
Composite
Drill From To Interval Assay
Hole (metres) (metres) (metres) g/t Au Comment
----------------------------------------------------------------------------
BK14-04 42.4 45.36 2.96CL 1.88 Bernadette
----------------------------------------------------------------------------
59.7 60.0 0.30 CL 3.54 Bernadette
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BK14-09 78.9 83.0 4.10 CL 2.95 Knoll
----------------------------------------------------------------------------
1.80 TT 2.95
----------------------------------------------------------------------------
78.9 80.4 1.50 CL 6.60
----------------------------------------------------------------------------
0.65 TT 6.60
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BK14-17 48.68 53.19 4.51 CL 9.35 RvG4
----------------------------------------------------------------------------
48.68 53.19 4.51 CL 5.36 Capped at 50 g/t
----------------------------------------------------------------------------
Incl. 48.68 48.98 0.30 CL 110.00
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BK14-20 72.15 75.7 3.55 CL 2.36 RvG4
----------------------------------------------------------------------------
Incl. 72.15 72.45 0.30 CL 6.63
----------------------------------------------------------------------------
And 72.3 72.7 0.40 CL 11.80
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BK14-21 N.S.V. RvG4
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BK14-22 87.68 88.35 0.67 CL 5.51 RvG4
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BK14-23 7.85 11.7 3.85 CL 10.89 Bernadette3
----------------------------------------------------------------------------
7.85 11.7 3.85 CL 4.57 Capped at 50 g/t
----------------------------------------------------------------------------
Incl. 11.4 11.7 0.30 CL 131.00
----------------------------------------------------------------------------
23.5 23.8 0.30 CL 5.93 Bernadette2
----------------------------------------------------------------------------
35.6 35.9 0.30 CL 4.01 Bernadette1
----------------------------------------------------------------------------
123.04 133.1 10.10 CL 1.28 Knoll
----------------------------------------------------------------------------
Incl. 123.04 125.16 2.12 CL 2.38
----------------------------------------------------------------------------
Incl. 124.73 125.16 0.43 CL 4.51
----------------------------------------------------------------------------
CL = Core Length
TT = True Thickness
Blaine Webster states, "We continue to intersect significant gold values on all
three showings we have explored to date. Knoll will be our priority going
forward due to the continuity we are seeing; however the higher grade hits we
are getting at RvG4 and Bernadette are compelling. These zones are close enough
together that we are likely looking at one large gold system.
Alteration/mineralized widths also appear to be improving at depth at Knoll and
as we drill deeper, more of the Bernadette zones will be tested in the top
portion of the holes."
Table of Previously Released Results
----------------------------------------------------------------------------
Composite
Drill From To Interval Assay
Hole (metres) (metres) (metres) g/t Au Comment
----------------------------------------------------------------------------
BK14-01 4.45 9.65 5.20 CL 1.44 Upper Knoll
----------------------------------------------------------------------------
13.60 15.60 2.00 CL 1.79 Knoll
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BK14-02 13.10 16.50 1.40 TT 2.89 Upper Knoll
----------------------------------------------------------------------------
30.60 33.20 1.09 TT 4.74 Knoll
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BK14-03 34.15 41.00 4.93 TT 12.86 Bernadette
----------------------------------------------------------------------------
34.15 41.00 4.93 TT 3.66 Capped at 50 g/t
----------------------------------------------------------------------------
Incl. 34.15 35.30 0.83 TT 70.23
----------------------------------------------------------------------------
34.15 35.30 0.83 TT 15.45 Capped at 50 g/t
----------------------------------------------------------------------------
Incl. 34.15 34.50 0.25 TT 230.00
----------------------------------------------------------------------------
60.65 62.75 1.51 TT 5.29 Bernadette 2
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BK14-05 14.65 18.15 2.73 TT 12.45 Knoll
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BK14-06 39.50 40.70 0.88 TT 8.85 Knoll
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BK14-07 51.80 58.00 2.05 TT 12.17 Knoll
----------------------------------------------------------------------------
Incl. 51.80 55.70 1.29 TT 18.69
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BK14-08 36.23 39.74 3.51 CL 5.78 Knoll
----------------------------------------------------------------------------
Incl. 37.56 39.74 2.18 CL 8.59
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BK14-10 9.4 11.2 1.80 CL 4.54 Knoll
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BK14-10 38 40.5 2.50 CL 4.86 FW Zone
----------------------------------------------------------------------------
Incl. 38 39.15 1.15 CL 9.59
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BK14-11 15 27.57 12.57 CL 3.72 Knoll
----------------------------------------------------------------------------
Incl. 22.1 27.57 5.47 CL 6.71
----------------------------------------------------------------------------
Incl. 22.1 23.55 1.45 CL 18.26
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BK14-12 20.7 34.97 14.27 CL 4.57 Knoll
----------------------------------------------------------------------------
Or 20.7 34.97 5.50 TT 4.57
----------------------------------------------------------------------------
Incl. 20.7 27.73 7.03 CL 6.76
----------------------------------------------------------------------------
Or 20.7 27.73 3.00 TT 6.76
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BK14-12 68.37 70.27 0.55 TT 9.77 FW Zone
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BK14-14 52 61.65 9.65 CL 2.58 Knoll
----------------------------------------------------------------------------
Or 52 61.65 3.20 TT 2.58
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BK14-16 78.33 85.16 6.83 CL 8.59 Knoll
----------------------------------------------------------------------------
Or 78.33 85.16 6.83 CL 7.82 Cap 50g/t
----------------------------------------------------------------------------
Incl. 78.33 80.88 2.55 CL 18.96
----------------------------------------------------------------------------
Or 78.33 80.88 2.55 CL 16.88 Cap 50g/t
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BK14-18 43.56 47.53 3.97 CL 23.15 RvG4
----------------------------------------------------------------------------
Or 43.56 47.53 3.97 CL 21.14 Cap 50g/t
----------------------------------------------------------------------------
And 57.39 61.40 4.01 CL 7.33
----------------------------------------------------------------------------
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.
Dill Hole Coordinates
----------------------------------------------------------------------------
Drill Elevation Depth
Hole East North (m) Azimuth Dip (m)
----------------------------------------------------------------------------
BK14-01 474178.7 5879387.5 277.6 263 45 93.0
----------------------------------------------------------------------------
BK14-02 474178.7 5879387.5 277.6 263 79 51.0
----------------------------------------------------------------------------
BK14-03 474194.8 5879393.1 277.9 074 45 123.0
----------------------------------------------------------------------------
BK14-04 474194.8 5879393.1 277.9 074 65 81
----------------------------------------------------------------------------
BK14-05 474177.9 5879362.4 276.7 273 44 93.0
----------------------------------------------------------------------------
BK14-06 474177.9 5879362.4 276.7 270 69.9 60.0
----------------------------------------------------------------------------
BK14-07 474177.9 5879362.4 276.7 278 80 99.0
----------------------------------------------------------------------------
BK14-08 474189.7 5879407.7 278.1 264 44 120
----------------------------------------------------------------------------
BK14-09 474189.7 5879407.7 278.1 260 65 90
----------------------------------------------------------------------------
BK14-10 474176.1 5879341.5 274.7 273 43.5 60.0
----------------------------------------------------------------------------
BK14-11 474176.1 5879341.5 274.7 271 63 50.0
----------------------------------------------------------------------------
BK14-12 474176.1 5879341.5 274.7 271 73.5 84.0
----------------------------------------------------------------------------
BK14-14 474199.1 5879329.0 275.6 235 79.5 102.0
----------------------------------------------------------------------------
BK14-16 474203.4 5879335.9 275 274 65 90.0
----------------------------------------------------------------------------
BK14-17 473999.7 5879828.8 275.8 075 50 69
----------------------------------------------------------------------------
BK14-18 473999.7 5879828.8 275.8 109 47 90.0
----------------------------------------------------------------------------
BK14-20 473992 5879813 275.8 060 45 90
----------------------------------------------------------------------------
BK14-21 473992 5879813 275.8 007 55 75
----------------------------------------------------------------------------
BK14-22 473944 5879809 275.8 095 50 102
----------------------------------------------------------------------------
BK14-23 474260 5879382 275.8 270 45 206.5
----------------------------------------------------------------------------
The initial 2000 metre program was extended to 2219 metres, and the drill is now
stored on site in anticipation of additional 2014 summer and fall drilling
programs. Final logging, and sampling has been completed, with the final two
holes available for release by mid-April. Additional geochemical assaying,
mainly for silver, copper antimony and tungsten will commence once all gold
assays have been received.
Comprehensive information about the Weebigee project, including, assays, plan
maps, drill sections and drill data made, will be posted on Goldeye's website
(www.goldeye.ca) today.
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
Activations 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
Jamieson, P.Geo., 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 227 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. 3,000)
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, RvG4 and Wavano areas. Goldeye recently signed a
comprehensive Exploration Agreement with Sandy Lake First Nation and is pleased
to be working closely with the community.
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.
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: "These zones
are close enough together that we are likely looking at one large system.
Alteration/mineralized widths also appear to be improving at depth at Knoll and
as we drill deeper, more of the Bernadette zones will be tested in the top
portion of the holes", "The initial 2000 metre program was extended to 2219
metres, and the drill is now stored on site in anticipation of additional 2014
summer and fall drilling programs. Final logging, and sampling has been
completed, with the final two holes available for release by mid-April.
Additional geochemical assaying, mainly for silver, copper antimony and tungsten
will commence once all gold assays have been received" and "Comprehensive
information about the Weebigee project, including, assays, plan maps, drill
sections and drill data made, will be posted on Goldeye's website
(www.goldeye.ca) today." 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:
Goldeye Explorations Limited
Blaine Webster, P. Geo.
President and CEO
416-315-9708
bwebster@goldeye.ca
Goldeye Explorations Limited
Robin Luke Webster
Manager, Corporate Affairs and Community Relations
416-877-6389
rwebster@goldeye.ca
www.goldeye.ca
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