Golden Goose Hits 18.5 Metres of 1.22% Nickel at its Lac Levac Property
Montreal, Quebec - January 29, 2008 - Golden Goose Resources Inc. (TSX-V: GGR) (the "Company") is pleased to report additional results from fall drilling at its wholly-owned Lac Levac nickel property in the James Bay area, 216 km north of Chibougamau in northern Quebec. The latest assays are among the final results from the 7,150-metre fall program recommended in the 43-101 report dated July 2007. Completed in December 2007, this program primarily targeted the NISK-1 anomaly* and its newly-discovered eastern extension.
"These new results are very encouraging," said Jean-Marc Lacoste, President of Golden Goose. "Hole 25-07 returned the widest intercept seen for the zone to date, and Hole 32-07 cut mineralization that extends right up to surface."
"Based on the initial four holes drilled on the eastern extension, this newly-identified area appears to contain similar nickel grades to the main area, with higher and more significant
platinum and palladium mineralization," he added.
The new results are as follows, with previously-reported results shown below for reference:
(True width not yet determined)
|
Hole |
From |
To |
Length |
Ni |
Cu |
Co |
Pt |
Pd |
|
# |
(m) |
(m) |
(m) |
% |
% |
% |
(g/t) |
(g/t) |
|
Main area (in-fill drilling recommended in July 2007 43-101 report) |
|
25-07 |
227.50 |
246.00 |
18.50 |
1.22 |
0.63 |
0.07 |
0.20 |
1.37 |
|
32-07 |
16.50 |
18.20 |
1.70 |
0.74 |
0.25 |
0.04 |
0.24 |
0.12 |
|
And |
23.70 |
25.70 |
2.00 |
1.60 |
1.59 |
0.09 |
0.47 |
0.30 |
|
40-07 |
243.50 |
247.00 |
3.50 |
0.70 |
0.21 |
0.04 |
2.64 |
1.59 |
|
41-07 |
121.00 |
133.50 |
12.50 |
0.56 |
0.43 |
0.03 |
0.14 |
0.85 |
|
42-07 |
238.00 |
240.50 |
2.50 |
0.76 |
0.32 |
0.05 |
0.17 |
0.49 |
|
19-07, 23-07 , 27-07 and 28b-07 showed minor mineralization (less than 2m thick using a cut-off grade of 0.4% Ni)
Assays for holes 16-07, 17-07 and 24-07 drilled on the main area are still pending. |
|
Eastern extension (newly discovered) |
|
39-07 |
58.50 |
61.00 |
2.50 |
0.77 |
0.38 |
0.04 |
0.20 |
2.67 |
|
43-07 |
239.50 |
243.50 |
4.00 |
1.30 |
0.64 |
0.07 |
0.02 |
0.49 |
|
45-07 |
183.10 |
186.10 |
3.00 |
0.81 |
0.81 |
0.05 |
0.30 |
1.27 |
|
47-07 |
153.70 |
161.70 |
8.00 |
1.03 |
0.72 |
0.05 |
0.91 |
3.24 |
|
44-07 showed minor mineralization (less than 2m thick using a cut-off grade of 0.4% Ni)
Results for holes 46-07, 48-07 to 50-07 and 52-07 drilled on the eastern extension are still pending |
|
|
33-08 and 51-08 are to be drilled in 2008 |
|
|
Previously-disclosed results: |
|
|
|
|
|
|
Hole |
From |
To |
Length |
Ni |
Cu |
Co |
Pt |
Pd |
|
# |
(m) |
(m) |
(m) |
% |
% |
% |
(g/t) |
(g/t) |
|
Fall 2007 Program |
|
|
|
|
|
22-07 |
23.00 |
27.50 |
4.50 |
0.89 |
0.25 |
0.07 |
0.04 |
0.87 |
|
And |
42.00 |
44.00 |
2.00 |
1.71 |
0.17 |
0.10 |
0.03 |
0.24 |
|
26-07 |
29.00 |
29.50 |
0.50 |
2.47 |
0.63 |
0.12 |
0.05 |
0.62 |
|
And |
35.00 |
36.00 |
1.00 |
0.96 |
0.06 |
0.07 |
0.05 |
0.51 |
|
29-07 |
256.00 |
259.00 |
3.00 |
1.30 |
0.51 |
0.08 |
0.01 |
1.11 |
|
30-07 |
150.50 |
158.50 |
8.00 |
0.90 |
0.30 |
0.07 |
0.19 |
0.84 |
|
31-07 |
75.05 |
77.55 |
2.50 |
0.72 |
0.39 |
0.04 |
0.37 |
0.34 |
|
34-07 |
239.20 |
249.70 |
10.50 |
0.73 |
0.25 |
0.05 |
0.08 |
0.48 |
|
Including |
239.20 |
244.70 |
5.50 |
1.01 |
0.34 |
0.07 |
0.11 |
0.74 |
|
35-07 |
50.65 |
55.65 |
5.00 |
0.85 |
0.50 |
0.05 |
0.09 |
0.80 |
|
36-07 |
134.40 |
137.40 |
3.00 |
0.61 |
0.54 |
0.04 |
0.05 |
0.55 |
|
37-07 |
235.50 |
238.50 |
3.00 |
0.77 |
0.40 |
0.05 |
0.27 |
0.67 |
|
38-07 |
34.50 |
35.00 |
0.50 |
0.78 |
0.84 |
0.05 |
0.26 |
0.84 |
|
18-07, 20-07, 21-07 showed no significant mineralization |
|
|
Spring 2007 program |
|
|
|
|
|
|
04-07 |
125.40 |
132.40 |
7.00 |
1.05 |
0.49 |
0.07 |
0.20 |
1.53 |
|
|
05-07 |
187.00 |
190.00 |
3.00 |
1.36 |
0.52 |
0.06 |
0.44 |
1.03 |
|
|
And |
192.00 |
209.50 |
17.50 |
1.48 |
0.42 |
0.09 |
0.26 |
1.10 |
|
|
06-07 |
154.50 |
156.00 |
1.50 |
1.08 |
0.35 |
0.07 |
0.09 |
0.79 |
|
|
07-07 |
106.70 |
108.70 |
2.00 |
1.17 |
0.28 |
0.07 |
0.23 |
0.94 |
|
|
08-07 |
129.00 |
133.00 |
4.00 |
1.07 |
0.31 |
0.07 |
0.04 |
0.76 |
|
|
And |
118.00 |
121.00 |
3.00 |
0.63 |
0.11 |
0.04 |
0.08 |
0.25 |
|
|
09-07 |
188.30 |
190.30 |
2.00 |
0.84 |
0.61 |
0.04 |
0.19 |
0.54 |
|
|
10-07 |
177.40 |
179.40 |
2.00 |
0.62 |
0.05 |
0.03 |
0.11 |
0.33 |
|
|
13-07 |
158.00 |
160.50 |
2.50 |
1.69 |
0.77 |
0.09 |
0.14 |
1.19 |
|
|
15-07 |
61.80 |
63.30 |
1.50 |
0.43 |
0.73 |
0.02 |
0.13 |
0.65 |
|
|
01-07, 02-07, 03-07 were drilled on the "C" anomaly and showed no significant mineralization
11-07 and 14-07 were cancelled
12-07 showed no significant mineralization |
|
Analyses were done by Accurassay Laboratories, Thunder Bay, Ontario. All samples are tested using a full scan ICP following an Aqua-Regia digestion. Ore grade samples are then reanalyzed by atomic absorption. Pt and Pd are tested by Fire Assay using lead collection.
A map of the Lac Levac property showing the best drill results to date can be found at :
http://www.goldengooseres.com/pages/en/levac_results_07
The fall drill data is being used to update the NI 43-101-compliant evaluation report and resource estimate dated July 2007, which showed the NISK-1 anomaly to contain an indicated resource of 516,000 tonnes at 0.89% nickel, 0.39% copper, 0.06% cobalt, 0.79 g/t palladium and 0.14 g/t platinum and an inferred resource of 734,000 tonnes at 0.89% nickel, 0.34% copper, 0.06% cobalt, 0.77 g/t palladium and 0.14 g/t platinum.
Meanwhile, the Company plans to continue delineating and upgrading the NISK-1 resource. "The 2008 drilling program, which will total about 10,000 metres, is still being finalized and will get underway next week," confirmed Mr. Lacoste. "We have not yet tested the extension of the NISK-1 mineralization at depth, which we consider to be a very high-potential target."
The Lac Levac drilling programs are planned and supervised by Marc-Antoine Beaupr�, a geological engineer and the qualified person as defined by National Instrument 43 101. He has approved the contents of this press release.
* Previously called the INCO anomaly. Golden Goose has decided to assign Cree names to the Lac Levac anomalies; "nisk" means "goose" in Cree.
ABOUT GOLDEN GOOSE RESOURCES
Golden Goose Resources Inc. is a Canadian public company listed on the TSX Venture Exchange under the symbol GGR. The Company is principally engaged in mineral exploration and acquisition and has a portfolio of gold and nickel-platinum group metals properties in Ontario and Quebec.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Golden Goose Resources Inc.
Jean-Marc Lacoste
Phone: 1-888-928-4667
Fax: 1-888-494-5371
email: lacoste@goldengooseres.com
Renmark Financial Communications Inc.
Barry Mire: bmire@renmarkfinancial.com
James Buchanan : jbuchanan@renmarkfinancial.com
Tel.: (514) 939-3989
Fax: (514) 939-3717
www.renmarkfinancial.com
QUALIFIED PERSON UNDER NI 43-101
MARC ANTOINE BEAUPR�, ING.
TEL.: (888) 928-4667
WWW.GOLDENGOOSERES.COM
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Golden Goose Resources Inc.
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CODE : GGR.V |
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Golden Goose is a gold exploration company based in Canada. Golden Goose is listed in Canada. Its market capitalisation is CA$ 19.6 millions as of today (US$ 19.5 millions, € 14.5 millions). Its stock quote reached its lowest recent point on December 29, 2000 at CA$ 0.04, and its highest recent level on December 31, 2007 at CA$ 1.25. Golden Goose has 51 562 000 shares outstanding. |