In c6115 transmitted at 14:03e on wednesday july 12th 2007, an error
occured in the "The ressources estimate is as folllows:" table. The %Ni
in the Inferred row was previously 0.87 and had to be changed to 0.89.
Corrected copy follows:
Golden Goose Resources Inc. releases its first Lac Levac Property
NI 43-101 resources estimate with Nickel, Copper, Cobalt and PGM
MONTREAL, July 12 /CNW Telbec/ - Golden Goose Resources Inc. (TSX Venture: GGR) is pleased to announce the release of a first NI 43-101 resource estimate on its Lac Levac Nickel property, located in the James Bay region, 40 kilometres northeast of Nemiscau, Quebec.
The estimate has Indicated resources of 516,000 tonnes (t), and additional Inferred resources of 734,000 t, both grading 0.89% Ni.
The resources estimate is as follows: Resources Tonnes (t) %Ni %Cu %Co Pt(g/t) Pd(g/t) Category ------------------------------------------------------------------------- Indicated 516,000 0.89 0.39 0.058 0.14 0.79 ------------------------------------------------------------------------- Inferred 734,000 0.89 0.34 0.060 0.14 0.77 ------------------------------------------------------------------------- ------------------------------------------------------------------------- (The cut-off grade used was 0.40%Ni for the estimate) Jean-Marc Lacoste, President, said, "We are excited by these results and resource estimate, which demonstrate the potential to increase the economics of this property. The mineralized zone is opened at depth under 200 meters and toward the East with multiple targets still unexplored. We are confident that we can increase the resources of the project with additional drilling." The Lac Levac mineralized zone is part of a 4 km long by 300 m wide geophysical magnetic anomaly. The sulphide mineralization is associated with a serpentinized peridotite. The sulphides occur as massive, semi-massive (between 20 and 60% sulphides) and disseminated (less than 20% sulphides) mineralization. The main sulphides are pyrrhotite, chalcopyrite, pyrite and pentlandite. This mineralization was encountered by drilling for a distance of 450 m inside the ultramafic body. The zone of sulphide mineralization remains open at depth and along strike. The holes drilled intercepted the mineralized zone between 60 m and 210 m in depth. The Nickel-Copper-PGM mineralization is oriented 070N with a steep dip to the North West. The estimate is based on the 2007 Winter drill program and the validation of previous drill holes realized by Inco (1960's) and Muscocho (1988). The indicated and inferred resource was calculated by the section method. The mineralization is presumed to be continuous along the main alignment (N070). For the purpose of the NI 43-101 report, 22 drill hole results, located on 10 adjoining sections, were used to make the resource estimation. The NI 43-101 compliant report and resource estimate were done by RSW Inc. (Montreal, QC) who also provided technical oversight for the project. The report will be filed on Sedar by the end of July. Given the positive results of the winter 2007 drilling program, additional work is recommended by RSW Inc. on the Lac Levac property. The goals of the next drilling program will be: - To upgrade the indicated and inferred resources to the measured category by tightening the drill grid. - To increase the resource by drilling additional and deeper holes. - To explore other targets on the property.
A new exploration program with a budget of $1,474,000 is recommended to achieve these goals.
The construction of a road to the Lac Levac property was just completed to facilitate access for the additional drilling campaigns. Pictures are now available on the website at: www.goldengooseres.com
ABOUT GOLDEN GOOSE RESOURCES
Golden Goose Resources Inc. is a Canadian public company listed on the TSX Venture Exchange under the symbol GGR. The Company is principally engaged in mineral exploration and acquisition and has a portfolio of gold and nickel-platinum group metals properties in Ontario and Quebec.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.