GLOBAL SEARCH FOR GOLD — Goldeye Resources active in Temagami area

Goldeye Explorations (GEYE-C) has acquired a 17.5-sq.-km property in Tyrrell Twp. covering Archean greenstones west of the Huronian boundary in northern Ontario.

The property vendor, a syndicate largely owned by directors of Goldeye, retains a 2.5% net smelter return royalty, whereas Northfield Minerals (NFM-T) holds a 0.5% NSR.

Initial investigations by former optionee Haddington Resources (hdd-v) defined a shear structure striking southeast across the northern part of the property. The structure, called the Tyrrell structural zone, hosts gold mineralization in felsic tuffs and in green-carbonate altered rocks, interpreted to be strongly altered komatiite flows.

There has been only limited drilling on the property. One hole, drilled in 1995 by Haddington, intersected 12 metres grading 4.3 grams gold per tonne, including a 6.5-metre interval grading 6.4 grams. Another Haddington drill hole cut 1.9 grams over 37.4 metres (including a 2.2-metre interval running 5.6 grams), and a third hole encountered 56.2 metres grading 0.9 gram (with a 9.3-metre interval grading 3.4 grams).

In airborne electromagnetic surveys, the Tyrrell shear shows up as a zone of relatively low resistivity, but, in detail, induced-polarization shows areas of high resistivity and high chargeability around the gold showings. A parallel structure 2 km south of the Tyrrell shear crosses the property near several other gold showings.