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Golden Goose reports a new 43-101 resource estimate for its Magino gold property
Innovexplo resource estimate targets new area, supplements previously known resource MONTREAL, Ma...
About this update from Golden Goose Resources Corp.
[{"type":"text","content":"\n\n\n\nInnovexplo resource estimate targets new area, supplements previously\n known resource\n\n\nMONTREAL, May 29 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR)\n(the "Company") is pleased to report a new resource estimate for its\nwholly-owned Magino Mine property, located 1.5 km southwest of the\nRichmont/Patricia Island Gold Mine, near Wawa, Ontario. The estimate complies\nwith National Instrument 43-101 - Standards of Disclosure for Mineral\nProjects.\n\n\nPrepared by Innovexplo, an independent mining and exploration consulting\nfirm based in Val-d'Or, Quebec, the new estimate shows an inferred resource of\n3.75 million tonnes grading 5.94 g/t Au at a cut-off grade of 3 g/t Au,\nrepresenting over 700,000 ounces of gold. The resource lies in the area below\nthe old Magino mine workings, at a depth of from 200 to 600 metres. The\nestimate is mainly based on drilling carried out since the beginning of 2006\nthat identified some 76 separate mineralized zones, all of which remain open\nat depth and along strike. The estimation method used was polygons on\nlongitudinal section for each zone, designed based on the future underground\nmining potential.\n\n\n"We knew our drill results were excellent, but we are still extremely\nimpressed by the size of the resource," said Jean-Marc Lacoste, President and\nChief Executive Officer of Golden Goose. "These numbers clearly demonstrate\nthe excellent potential of the property. We will now begin work on upgrading\nthis Inferred Resource to the Indicated category in preparation for\nprefeasibility."\n\n\nDepending on the cut-off grade used, the new estimate shows an inferred\nresource below the 200-metre level as follows:\n\n\n Magino Project\n Innovexplo Inferred Mineral Resource\n\n-------------------------------------------------------------------------\n-------------------------------------------------------------------------\n Cut-off Grade\n Grade Tonnes (Au g/t) Ounces\n-------------------------------------------------------------------------\n-------------------------------------------------------------------------\n 3 g/t 3,755,600 5.94 717,227\n-------------------------------------------------------------------------\n 4 g/t 2,515,400 7.19 581,469\n-------------------------------------------------------------------------\n 5 g/t 1,880,900 8...