Business
Golden Goose issues an update on its gold property
MONTREAL, Feb. 5 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR) (the "Company") is pleas...
About this update from Golden Goose Resources Corp.
[{"type":"text","content":"\n\n\n\nMONTREAL, Feb. 5 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR)\n(the "Company") is pleased to issue an update on ongoing assessment work on\nits Magino gold property in Ontario.\n\n\nA 43-101 resource update is presently well underway for the Magino\nproperty, which lies 1.5 km southwest of the Island Gold Mine operated by\nRichmont Mines near Wawa, Ontario. The update should be ready for release\ntowards the end of the first quarter of 2009. It is expected to show resources\nin all three of the measured, indicated and inferred categories.\n\n\nThe previous 43-101 resource estimate for the property indicated an\ninferred resource of nearly 720,000 ounces contained in 3.8 million tonnes\ngrading 5.94 g/t Au (see press release dated May 29, 2008) for a section of\nground with a strike length of 800 m and to a depth of from 200 m to 600 m.\nThe update will include historical data and new data from the over 15,000 m of\ndrilling done in the last two years, and therefore covers a section of ground\nstretching over a strike length of 1.2 kilometres, from surface to a depth of\n600 metres. Numerous consistent gold-bearing zones have been identified by\ndrilling within this area.\n\n\nJean-Marc Lacoste, President and Chief Executive Officer of Golden Goose,\nnoted that gold's current strong price and bullish outlook will help Golden\nGoose develop the full potential of its Magino property.\n\n\n"Shareholders can rest assured that we are looking at all options for\nadding shareholder value to the stock," he added, "including potentially\nspinning off some of our other assets in the coming quarters."\n\n\nGolden Goose currently has cash assets of over $1.5 million invested in\nsecure money market instruments, and no debt. The Company plans to issue\nupdate news releases on a regular basis in the coming months.\n\n\nQualified Persons are Carl Pelletier, B.Sc., P.Geo. and Bruno Turcotte,\nM.Sc., P.Geo. of InnovExplo Inc. for the Magino mineral resource estimate and\nGilles Provost M.Sc.A. P.Geo. , a professional geologist for Golden Goose and\nQualified Person under NI 43-101, has approved the contents of this press\nrelease.\n\n\nABOUT GOLDEN GOOSE RESOURCES\n\n\nGolden Goose Resources Inc. is a Canadian public company listed on the\nTSX Venture Exchange under the symbol GGR. The Company is p...