Business
Kodiak and Golden Goose Combine to Form Well-Financed Gold Company with Near Term Production Potential
Kodiak and Golden Goose Combine to Form Well-Financed Gold Company with Near Term Production Pote...
About this update from Golden Goose Resources Corp.
[{"type":"text","content":"\n\n\n\n Aug. 31, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\nTSX.V KXL\n\nVANCOUVER and MONTRÉAL, Aug. 31 /CNW Telbec/ - Kodiak Exploration Limited (TSX-V: KXL, "Kodiak") and Golden Goose Resources, Inc. (TSX-V: GGR "Golden Goose") are pleased to announce that they have entered into a definitive merger agreement and plan of arrangement dated August 30, 2010 wherein Kodiak will acquire all of the issued and outstanding shares of Golden Goose. The principal asset of Golden Goose is the Magino Mine project located 40 kilometres northeast of the town of Wawa, Ontario. The Magino Mine, a past producing underground gold mine credited with production of over 105,000 ounces of gold, has a 43-101 compliant Measured and Indicated gold resources of 453,190 ounces (2,092,000 metric tonnes grading 6.74 grams/tonne gold) and Inferred gold resources of 1,178,120 ounces gold (5,829,000 metric tonnes grading 6.29 grams/tonne gold) at a cut-off grade of 3.0 grams/tonne (Technical Report and Mineral Resource Estimate for the Magino Mine, prepared by InnovExplo, 28 May, 2009). Kodiak is excited to acquire this large gold deposit that compliments its existing gold resources in the Beardmore-Geraldton gold belt and further transitions Kodiak from a pure gold explorer to a growing gold company with multiple projects and near-term production potential. Kodiak believes there is substantial upside potential to the Magino Mine property that will benefit both existing Kodiak shareholders and Golden Goose shareholders:\n\n\n >\n\n\nKodiak believes that the Magino Mine property has the potential to host a significant surface bulk-minable gold deposit. Five independent third party resource estimates completed between 1996 and 2001 (non NI 43-101 compliant) document the potential for a large surface bulk-minable gold deposit at Magino. These studies suggest that the known high grade gold mineralization at Magino is enveloped by large vo...