Business
Surface stripping at Golden Goose's Magino property returns nearly 20 g/t Au over 0.5 metres
MONTREAL, Oct. 28 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR) (the "Company") is plea...
About this update from Golden Goose Resources Corp.
[{"type":"text","content":"\n\n\n\nMONTREAL, Oct. 28 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR)\n(the "Company") is pleased to report that surface stripping on its\nwholly-owned Magino Mine property has returned values of 17.60 g/t Au over 1\nmetre and 9.03 g/t Au over 1.1 metres, including 19.86 g/t Au over 0.5 metres.\nThe Magino property lies 1.5 km southwest of the Richmont/Patricia Island Gold\nMine, near Wawa, Ontario.\n\n\nThe results were generated by stripping and channel sampling carried out\nin July 2008 in the vicinity of the south contact of the Webb Lake\ngranodiorite stock and adjacent volcanic rocks. This area lies above the\nworkings of the old Magino gold mine. The purpose of the work, which was in\nline with the recommendations of the 43-101 report on the property tabled by\nInnovExplo in June 2008, was to enhance the understanding of the structural\ncontrols of gold deposition.\n\n\nThe best results for the stripping and channel sampling program were as\nfollows:\n\n\n Strip Channel Width Gold Content\n No. No. (m) (g/t)\n -----------------------------------------\n DNo.1 RNo.3 1.0 3.904\n DNo.1 RNo.4 0.5 1.072\n DNo.1 RNo.5 0.5 0.913\n DNo.1 RNo.5 0.5 1.26\n DNo.2 RNo.1 1.0 2.249\n DNo.2 RNo.2 1.0 1.134\n DNo.2 RNo.2 1.0 2.779\n DNo.4 RNo.3 1.0 3.669\n DNo.4 RNo.5 0.3 1.098\n DNo.4 RNo.5 0.5 19.857\n DNo.4 RNo.5 0.3 1.104\n DNo.4 RNo.6 1.0 17.597\n DNo.4 RNo.8 0.5 2.103\n DNo.1 RNo.3 1.0 3.904\n\n\n"The occurrence of gold values in the formations we uncovered at surface\nhas led to a much better understanding of overall system," said Jean-Marc\nLacoste, President and Chief Executive Officer of Golden Goose. "We will use\nthis new information to reinterpret the old data available for the area from\nsurface down to 200 metres and to plan additional drilling. This should\ncontribute significantly to our current efforts to upgrade the known resources\nand add more tonnage."\n\n\n"The proximity of iron formations combined with the new information\ngained from the summer work program points us a very promising direction," he\nadded.\n\n\nThe Company is currently working to upgrade the substantial inferred\nresource of 3.8 million tonnes grading 5.9 g/t Au reported earlier this year\n(see press release dated May 29, 2008) and to reinterpret the data underlying\nan earlier estimate of near-...