Golden Goose Resources announces New Nickel drilling results on its Lac Levac Property.
Montreal, QC - May 17, 2007 - Golden Goose Resources Inc.( TSX Venture: GGR) is pleased to announce that it has completed 2,500 metres drilling program on its Lac Levac property, located in the James Bay region, 40 kilometres northeast of Nemiscau, Quebec. Complete results are listed in the table below. New results from the latest holes 09 through 15 are highlighted.
In total, 10 holes were drilled, covering a distance of approximately 450 metres on a 4 kilometre long east-west geophysical anomaly. Several significant nickel intersections were encountered The most significant intersection was 17.5 metres at 1.48 % nickel and 0.42% copper in hole TF-05-07. The best new results include 1.69% nickel and 0.77% Cu over 2.5 metres and suggest continuity of the mineralization. The interval widths given are the core lengths. The true widths of mineralized intervals have not yet been determined.
The mineralized zones are composed of massive to disseminated sulphide in an ultramafic rock identified as serpentinite and peridotite units with spinifex horizon.Sulfide mineralization with significant nickel content is open on the east side and at depth.
The results are as follows (italicized holes were previously reported):
Drill Hole |
From (m) |
To (m) |
Length (m) |
Ni % |
Cu % |
Co % |
Pt (g/t) |
Pd (g/t) |
TF-04-07 |
125.4 |
132.4 |
7.0 |
1.05 |
0.49 |
0.071 |
0.20 |
1.53 |
TF-05-07 |
187.0 |
190.0 |
3.0 |
1.36 |
0.52 |
0.061 |
0.44 |
1.03 |
AND
|
192.0 |
209.5 |
17.5 |
1.48 |
0.42 |
0.087 |
0.26 |
1.1 |
TF-06-07 |
154.5 |
156.0 |
1.5 |
1.08 |
0.35 |
0.070 |
0.09 |
0.79 |
TF-07-07 |
106.7 |
108.7 |
2.0 |
1.17 |
0.28 |
0.069 |
0.23 |
0.94 |
TF-08-07 |
129.0 |
133.0 |
4.0 |
1.07 |
0.31 |
0.071 |
0.04 |
0.76 |
AND
|
118.0 |
121.0 |
3.0 |
0.63 |
0.11 |
0.039 |
0.08 |
0.25 |
TF-09-07 |
188.3 |
190.3 |
2.0 |
0.84 |
0.61 |
0.044 |
0.19 |
0.54 |
TF-10-07 |
177.4 |
179.4 |
2.0 |
0.62 |
0.05 |
0.026 |
0.11 |
0.33 |
TF-12-07 |
minor nickel mineralization |
TF-13-07 |
158.0 |
160.5 |
2.5 |
1.69 |
0.77 |
0.090 |
0.14 |
1.19 |
TF-15-07 |
61.8 |
63.3 |
1.5 |
0.43 |
0.73 |
0.022 |
0.13 |
0.65 |
Note: TF-11-07 was postponed to the next drilling program, TF-14-07 was a "if required" hole and was cancelled, the first three holes of the campaign (TF-01-07, TF-02-07, and TF-03-07) were drilled on separate anomalies in other parts of the property and encountered minor nickel mineralization. Analyses were done by Accurassay Laboratories, Thunder Bay, Ontario. They used Fire assay and Aqua Regia methods.
Because of these significant drilling results, Golden Goose has retained a geophysical firm to conduct in-hole pulse electro-magnetic survey to further define the size and shape of the mineralized zones. Survey results will be used to plan the next drilling campaign. The geophysical survey will start on May 20, 2007.
Golden Goose has mandated RSW Inc. to produce a NI43-101 resource estimate on the Nickel Zone of its Lac Levac property. The report is expected to be released in June 2007.
Permitting to construct an access road has begun to enable better access for further drilling later this year.
Golden Goose continues to drill at the Magino Gold property in North West Ontario.
Additional results are expected shortly.
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
President
1 Place Ville Marie, Suite 2821
Mtl , Qc , H3B 4R4
Phone: 1-888-928-4667
Fax: 1-888-494-5371
Website: www.goldengooseres.com
RSW Inc.
Marc Antoine Beaupr�
Eng. Qualified person under NI43-101
1010 De La Gaucheti�re, #500
Mtl, Qc, H3B 0A1
Phone: 514-878-2621
Fax: 514-397-0085
Website: www.rswinc.com
Renmark Financial Communications Inc.
Barry Mire : bmire@renmarkfinancial.com
Barbara Komorowski : bkomorowski@renma
RKFINANCIAL.COM
MEDIA - VANESSA NAPOLI : VNAPOLI@RENMARKFINANCIAL.COM
TEL. : (514) 939-3989
FAX : (514) 939-3717
WWW.RENMARKFINANCIAL.COM
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Golden Goose Resources Inc.
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Golden Goose est une société d’exploration minière d'or basée au Canada. Golden Goose est cotée au Canada. Sa capitalisation boursière aujourd'hui est 19,6 millions CA$ (19,5 millions US$, 14,5 millions €). La valeur de son action a atteint son plus bas niveau récent le 29 décembre 2000 à 0,04 CA$, et son plus haut niveau récent le 31 décembre 2007 à 1,25 CA$. Golden Goose possède 51 562 000 actions en circulation. |