Business
Golden Goose gives the green light to an additional 6,000 metres of drilling at its Lac Levac property in James Bay
Golden Goose gives the green light to an additional 6,000 metres of drilling at its Lac Levac property in James Bay.
About this update from Golden Goose Resources Corp.
[{"type":"text","content":"\n\n\n\nMONTREAL, Sept. 14 /CNW Telbec/ - Golden Goose Resources Inc.\n(TSX-V: GGR) (the "Company") is pleased to announce it will proceed with a\nsecond program of drilling at its wholly-owned Lac Levac nickel property in\nthe James Bay area of northern Quebec. Work is scheduled to commence on\nOctober 15, 2007.\n\n\nThe decision to pursue drilling is based on the conclusions of a\nNI 43-101-compliant evaluation report and resource estimate dated July 2007 by\nRSW Inc. (Montreal, QC), who also provided technical oversight for the project\n(see press release dated July 12, 2007). The report showed that the Lac Levac\nproperty hosts a mineralized zone containing an indicated resource of\n516,000 tonnes at 0.89% nickel, 0.39% copper, 0.06% cobalt, 0.79 g/t palladium\nand 0.14 g/t platinum and an inferred resource of 734,000 tonnes at 0.89%\nnickel, 0.34% copper, 0.06% cobalt, 0.77 g/t palladium and 0.14 g/t platinum.\n\n\n"We have already followed through on two other recommendations in the\nreport, namely building a 1.6-km access road to facilitate future work on the\nLac Levac property, and performing microprobe analyses to assess the metal\ncontent of the ore minerals," said Jean-Marc Lacoste, President of Golden\nGoose. "Now that we have closed on a major financing, we are ready to start\nwork on increasing and upgrading our resource base."\n\n\nThe new program consists of drilling on the mineralized zone extensions\nat depth and along strike to increase the current resource, and in-fill\ndrilling to upgrading the resource. A few holes will also be drilled to test\nother targets on the property. The program consists of a total of 6,000 metres\nof drilling in 20 holes, for a budget of $1,474,000.\n\n\nAssuming the program results are positive, the Company then intends to\ncarry out a pre-feasibility study on the deposit.\n\n\nCash Investments\n\n\nGolden Goose presently has cash resources of $4,400,000 with which to\npursue its exploration objectives, including $2,200,000 in funds reserved for\nexploration.\n\n\nThe Company confirms that it has no exposure to asset-backed commercial\npaper in its investment portfolio. The Company's cash and cash equivalents are\nprimarily held in Canadian chartered bank accounts.\n\n\nABOUT GOLDEN GOOSE RESOURCES\n\n\nGolden Goose Resources Inc. is a Canadian publi...