Eagle Eye Metals Limited (ASX:EYE) Announces Reverse Circulation Drilling Results at the Dankassa Gold Project in Mali

Perth, Nov 14, 2011 AEST (ABN Newswire) - Eagle Eye Metals Limited (ASX:EYE) is pleased to announce the analytical results of the phase two Reverse Circulation (RC) drilling programme conducted at the Kourouba Prospect within the Company's Dankassa Gold Project in Mali.

The programme was designed to follow up results from the phase one drill programme completed in July and to test for continuity of higher grade gold zones along strike and at depth within the Kourouba Prospect. A total of 18 holes were completed for 1,638 metres.

Final analytical results have now been received for the RC drilling. Significant intersections are presented in Table 1 (see link at the bottom of the release). Better results include:

- 21m @ 1.01 g/t gold from 18m
- 15m @ 1.25 g/t gold from 16m
- 7m @ 1.01 g/t gold from 30m
- 6m @ 1.13 g/t gold from 44m
- 3m @ 2.14 g/t gold from 12m
- 3m @ 2.07 g/t gold from 48m

Gold mineralisation at the Kourouba Prospect is hosted by intensely hematite-feldspar-chlorite altered granodiorite. The recent drilling further confirms that mineralisation occurs in broad, moderately dipping, and geologically continuous zones. Significantly the combined width of these zones is very broad, exceeding 60m in places. Mineralisation has now been delineated over a strike length of more than 800m.

The character of mineralisation and widespread distribution of gold at Kourouba suggests significant lode gold potential within the broader prospect area. The Company continues to explore the area to delineate bulk mineable gold resources at the Kourouba Prospect. The results reported to date are from very shallow depths (less than 70m vertical). Deeper RC and diamond drilling is now being considered to explore the depth potential of the prospect.
Planning of follow-up drilling along strike will occur once all pending analytical results from aircore drilling are received.

Ongoing Work Programme

In parallel with the RC drilling programme, additional drilling and reconnaissance work was also recently undertaken within the broader Kourouba Prospect area and further afield within the Dankassa Gold Project. In addition to the 1,638 metres of RC drilling, the Company also recently completed 6,150m of aircore drilling and a further 6,000 metres of auger drilling to evaluate other targets within the Dankassa Gold Project. Eagle Eye anticipates that new high priority targets will be delineated and that further evaluation with follow-up aircore and/or RC drilling will be warranted. Results will be reported as they become available over coming weeks.

Field programmes are also underway at both of the Company's other projects, the Korindji Gold Project in Mali and the Basawa Gold Project in Liberia. This is an exciting time for the Company, with ongoing results expected to be announced over coming months.

For the complete Eagle Eye Metals announcement including figures and tables, please view the following link:
http://media.abnnewswire.net/media/en/docs/ASX-EYE-566485.pdf

Contact

Kevin Joyce Managing Director Eagle Eye Metals Limited Ph: +61-8-9286-3045 Fax: +61-8-9226-2027 Email: info@eagleeyemetals.com