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Golden Goose Resources Inc. releases its first Lac Levac Property NI 43-101 resources estimate with Nickel, Copper, Cobalt and PGM
Golden Goose Resources Inc. releases its first Lac Levac Property NI 43-101 resources estimate with Nickel, Copper, Cobalt and PGM.
About this update from Golden Goose Resources Corp.
[{"type":"text","content":"\n\n\n\nMONTREAL, July 12 /CNW Telbec/ - Golden Goose Resources Inc.\n(TSX Venture: GGR) is pleased to announce the release of a first NI 43-101\nresource estimate on its Lac Levac Nickel property, located in the James Bay\nregion, 40 kilometres northeast of Nemiscau, Quebec.\n\n\nThe estimate has Indicated resources of 516,000 tonnes (t), and\nadditional Inferred resources of 734,000 t, both grading 0.89% Ni.\n\n\nThe resources estimate is as follows:\n\nResources Tonnes (t) %Ni %Cu %Co Pt(g/t) Pd(g/t)\nCategory\n-------------------------------------------------------------------------\nIndicated 516,000 0.89 0.39 0.058 0.14 0.79\n-------------------------------------------------------------------------\nInferred 734,000 0.87 0.34 0.060 0.14 0.77\n-------------------------------------------------------------------------\n-------------------------------------------------------------------------\n(The cut-off grade used was 0.40%Ni for the estimate)\n\nJean-Marc Lacoste, President, said, "We are excited by these results and\nresource estimate, which demonstrate the potential to increase the economics\nof this property. The mineralized zone is opened at depth under 200 meters and\ntoward the East with multiple targets still unexplored. We are confident that\nwe can increase the resources of the project with additional drilling."\nThe Lac Levac mineralized zone is part of a 4 km long by 300 m wide\ngeophysical magnetic anomaly. The sulphide mineralization is associated with a\nserpentinized peridotite. The sulphides occur as massive, semi-massive\n(between 20 and 60% sulphides) and disseminated (less than 20% sulphides)\nmineralization. The main sulphides are pyrrhotite, chalcopyrite, pyrite and\npentlandite. This mineralization was encountered by drilling for a distance of\n450 m inside the ultramafic body. The zone of sulphide mineralization remains\nopen at depth and along strike. The holes drilled intercepted the mineralized\nzone between 60 m and 210 m in depth. The Nickel-Copper-PGM mineralization is\noriented 070N with a steep dip to the North West.\nThe estimate is based on the 2007 Winter drill program and the validation\nof previous drill holes realized by Inco (1960's) and Muscocho (1988). The\nindicated and inferred resource was calculated by the section method. The\nmineralization is presumed to be continuous...