May 9 2013
Goldeye Explorations Limited ("Goldeye" or the "Company") announces that it has received an Exploration Permit (No. PR-13-10172) from the Ministry of Northern Development and Mines for its Weebigee project near Sandy Lake, Ontario.
The Exploration Permit covers activities including mechanized drilling, mechanized stripping and line cutting for a period of three years.
Goldeye had previously submitted an Exploration Plan for activities including geophysical surveys, and is now permitted to carry out activities as specified in both the Exploration Plan and Exploration Permit.
Blaine Webster, President and CEO of Goldeye said: "We are very pleased to have received an exploration permit for the Weebigee project. We believe in the potential of this project to deliver a high-grade discovery and look forward to developing the significant economic potential of the area."
The Weebigee project contains a number of underexplored lode gold targets. The property's 220 claim units cover the most prospective portions of the Sandy Lake Greenstone belt with geological similarities to the Red Lake District (Red Lake, Madsen, and Starratt-Olsen mines in particular). High grade grab samples of up to 187 grams per tonne (g/t) gold (Au) have been collected in the Northwest Arm claim block. Base metal showings up to 4.5% zinc (Zn) and 3% copper (Cu) occur 5km to the south at Sandborn Bay along with grab samples of 352 g/t silver (Ag) and 1 g/t Au. Goldeye's summer 2013 exploration program will include geological mapping, lake-bottom geochemistry and geophysical surveys to further prioritize targets for a subsequent drill program.
Goldeye is committed to building a strong and mutually beneficial relationship with Sandy Lake First Nation, the closest Aboriginal community to the Weebigee project. Management has spent several years developing this relationship and will continue to engage in on-going consultative dialogue with the community respecting the company's exploration activities.
On behalf of the Board of Directors
Blaine Webster, P.Geo., President and CEO
Blaine Webster, P. Geo., is the Qualified Person as defined under NI 43-101 who has reviewed and is responsible for the technical information presented in this news release.
Source: http://www.goldeye.ca/