Eagle Eye Metals Limited (ASX:EYE) Announce Highly Significant Results from Maiden Drill Program at Dankassa Gold Project in Mali

Perth, Aug 29, 2011 AEST (ABN Newswire) - Eagle Eye Metals Limited (ASX:EYE) is pleased to announce the results of its maiden Reverse Circulation (RC) drilling campaign completed recently at the Kourouba Prospect within the Company's Dankassa Gold Project in Mali.

Drilling was undertaken on 100m spaced sections over an 800m long portion of the extensive 5,000m long gold-in-soil anomaly at the Kourouba Prospect. A total of 24 holes were completed for 2,400 metres. Drilling has confirmed that primary gold mineralisation extends over more than 800m of strike. Mineralisation remains open in all directions.

All assay results have now been received. Better results include:

- 32m @ 0.8 g/t gold from 78m
- 12m @ 1.67 g/t gold from 26m
- 7m @ 1.12 g/t gold from 16m
- 7m @ 1.00 g/t gold from 48m
- 3m @ 2.10 g/t gold from 37m
- 3m @ 1.59 g/t gold from 40m
- 2m @ 1.66 g/t gold from 73m
- 2m @ 1.55 g/t gold from surface

Gold mineralisation is hosted by intensely hematite-feldspar-chlorite altered granodiorite rock. Mineralisation is evident in two broad sub-vertical and geologically continuous zones. Significantly the combined width of these zones is very broad, exceeding 60m.

Recent drilling, combined with previous drilling, has highlighted that higher grade shoots occur within the broader mineralised envelopes. These high-grade shoots appear to persist at depth. Additional drilling is planned to confirm the continuity of the higher grade zones.

The highly encouraging results reported here confirm the presence of a large mineralised system at the Kourouba Prospect. The character of mineralisation and widespread distribution of gold suggests significant lode gold potential. The Company continues to believe there is excellent scope to discover bulk mineable gold resources here.

To date less than 20% of the extensive, coherent, 5,000m long, soil-geochemistry anomaly at the Kourouba Prospect has been evaluated with drilling. Plans are well advanced to implement a follow-up RC and aircore drilling program to infill and extend drill coverage at the Kourouba Prospect during September.

Additional drilling and detailed reconnaissance will also be undertaken within the broader Kourouba Prospect area and further afield within the Dankassa Gold Project, where numerous other gold in soil trends remain untested.

Background - Eagle Eye Metals

Eagle Eye Metals Limited holds substantial interests in several highly prospective gold projects in Mali and Liberia in West Africa; a gold rich region that has produced in excess of 250 million ounces of gold. The Company recently raised approximately A$3.4 million and is now well financed to continue to aggressively explore its gold projects and to continue to assess new opportunities to continue to grow the business.

For the complete Eagle Eye Metals Limited announcement including figures, please view:
http://media.abnnewswire.net/media/en/docs/ASX-EYE-554821.pdf

Contact

Wayne Ryder Executive Chairman Ph: +61-8-9389-4450 Eagle Eye Metals Limited http://www.eagleeyemetals.com