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Golden Goose begins 6,000 metre drilling program at its Lac Levac nickel property in James Bay
Golden Goose begins 6,000 metre drilling program at its Lac Levac nickel property in James Bay.
About this update from Golden Goose Resources Corp.
[{"type":"text","content":"\n\n\n\nMONTREAL, Oct. 22 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR)\n(the "Company") is pleased to announce that drilling commenced Friday\nOctober 19th at its wholly-owned Lac Levac nickel property in the James Bay\narea of northern Quebec. The full program consists of a minimum of\n6,000 metres in some 30 holes, and is aimed at generating data for an updated\nNI 43-101-compliant resource estimate.\n\n\n"Our previous drilling program last spring demonstrated the strong\npotential of the Lac Levac property, which is why we have committed two drills\nto this project," said Jean-Marc Lacoste, President of Golden Goose. "The goal\nof this program is to increase and upgrade our current resource, which is\ncurrently open to the east and at depth. We will be disclosing results as they\nbecome available, from now through the first quarter of 2008," he added.\n\n\nThe Company has subcontracted the drilling to Bradley Drilling, and the\nnew NI 43-101 resource estimate will be prepared under the supervision of\nPierre Trudel from RSW Inc. of Montreal, who also carried out the\nNI 43-101-compliant evaluation report and resource estimate dated July 2007.\n\n\nGolden Goose has also retained Abitibi Geophysique of Val-d'Or to conduct\nan InfiniTEM geophysical survey on two large grids over the drilled anomaly\nand the eastern extension of the mineralized zone to provide additional\ninformation for drilling. The geophysics field work is currently in progress\nand will be completed over the next two weeks.\n\n\nThe Lac Levac property has been shown to host a mineralized zone\ncontaining an indicated resource of 516,000 tonnes at 0.89% nickel,\n0.39% copper, 0.06% cobalt, 0.79 g/t palladium and 0.14 g/t platinum and an\ninferred resource of 734,000 tonnes at 0.89% nickel, 0.34% copper,\n0.06% cobalt, 0.77 g/t palladium and 0.14 g/t platinum.\n\n\nGolden Goose presently has cash resources of $4.0 million with which to\npursue its exploration objectives, including $2.2 million in funds reserved\nfor exploration. The budget for the current program is approximately\n$1.5 million.\n\n\nThe drilling program is being planned and supervised by Marc-Antoine\nBeaupre, a geological engineer and the qualified person as defined by National\nInstrument 43-101. Previously employed by RSW Inc., Mr. Beaupre was recentl...