Perth, Feb 27, 2008 AEST (ABN Newswire) - Since 2007 Eagle Eye Metals Limited (ASX: EYE) has concentrated its efforts in the search for nickel oxides at our Waite Kauri project near Leonora in the north-eastern Goldfields of Western Australia. As advised in our 31 December 2007 Quarterly Activities Report, the Company has completed shallow air core drilling of 183 holes, producing assay results described by our Consulting Geologists, Kalgoorlie based BM Geological Services, as "extremely encouraging" and "significant", adopting a results cut off grade of nickel of 0.50%. They advised that "the program was successful and ore grade mineralisation was encountered in 14 holes."
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This work is now being followed up by a more intensive reverse circulation ("RC") drilling program designed to extend the known extents of the mineralisation, particularly in the area adjoining GME Resources Limited's deposit of 1.30Mt @1.33% nickel and 0.14% cobalt, referred to as "Waite Kauri Deposit" at top left of our attached proposed drill holes location map.
The RC drilling programme has commenced under the supervision of Eagle Eye's recently appointed Exploration Manager, Geologist Graham de la Mare, working with our Consulting Geologists and the drilling contractors.
We anticipate that the drilling and laboratory assays, followed by the geological interpretation thereof, will take several weeks to complete, with results to be announced as soon as available.
Contact
Wayne Ryder
Fax: (08) 9385 4400
Mobile: 0418 928 180
Email: info@eagleeyemetals.com
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