Business
Golden Goose reports a 43-101 nickel resource at its Lac Levac property
MONTREAL, May 7 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR) (the "Company") is please...
About this update from Golden Goose Resources Corp.
[{"type":"text","content":"\n\n\n\nMONTREAL, May 7 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR)\n(the "Company") is pleased to report the results of a new resource estimate\nfor its wholly-owned Lac Levac nickel project, located 216 km north of\nChibougamau in the James Bay area of northern Quebec.\n\n\nThe resource estimate, which complies with the requirements of National\nInstrument 43-101, was prepared by RSW Inc. of Montreal, who were also\nresponsible for the previous estimate dated July 2007.\n\n\nThe results of the new estimate are as follows:\n\n\n Nickel Palla- Plati-\nCategory Tonnes ------------------ Copper Cobalt dium num\n % Ni lbs % Cu % Co g/t Pd g/t Pt\n-------------------------------------------------------------------------\nMeasured 1,255,000 1.09 30,158,000 0.56 0.07 1.11 0.20\nIndicated 783,000 1.00 17,262,000 0.53 0.06 0.91 0.29\n-------------------------------------------------------------------------\n-------------------------------------------------------------------------\nTotal 2,038,000 1.06 47,420,000 0.55 0.07 1.03 0.23\n-------------------------------------------------------------------------\nInferred 1,053,000 0.81 18,803,000 0.32 0.06 1.06 0.50\n-------------------------------------------------------------------------\nCut off grade was 0.4% nickel and no external dilution was included.\n\n\n"This 43-101 report confirms our expectations based on the results of\nfall drilling," stated Jean-Marc Lacoste, President and Chief Executive\nOfficer of Golden Goose. "We have succeeded in outlining a measured and\nindicated resource of 47.4 million pounds of nickel and an additional\n18.8 million pounds inferred. With nickel trading above $12 per pound, we now\nhave excellent grounds for building on our exploration efforts and aiming to\nput this project into production."\n\n\nThe previous resource estimate for the project showed an indicated\nresource of 516,000 tonnes at 0.89% Ni and an inferred resource of\n734,000 tonnes at 0.89% Ni. In the fall of 2007 and winter 2008, the Company\ndrilled over 11,000 metres of additional drilling in 53 holes on the NISK-1\ndeposit in order to extend and upgrade the project resource. The new resource\nestimate was warranted by very strong fall exploration results that included\nthe discovery and delineation of the Eastern extension of the deposit.\n\n...