MONTREAL, Dec. 13 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR) (the "Company") is pleased to announce that Phase 1 of drilling on its wholly-owned Magino gold property near Wawa in northwestern Ontario is now complete. The property hosts the Magino gold mine, which produced about 105,000 ounces in the late 1980s and early 1990s.
Phase I of the program initially consisted of 6,838 metres of drilling aimed at testing the extensions of the known zones under the Magino mine workings as well as the potential at depth. However, due to the numerous new gold zones intersected, the program was increased to nearly 10,000 metres. Results for 27 of the 29 holes drilled are shown in the table below, with assays for holes 27 and 29 still pending and expected in late January.
The Company has also retained Innovexplo, a consulting firm based in Val-d'Or, Quebec, to carry out a new resource estimate for the project based on the Phase I drill results. The estimate is already underway and is expected to be completed in the first quarter of 2008.
"The last resource estimate was dated April 2004 and showed a measured and indicated resource of about 7.2 million tonnes grading 0.075 opt Au, which is more than 500,000 ounces at surface," noted Jean-Marc Lacoste, President and Chief Executive Officer of Golden Goose. "We have since done substantial work and obtained very interesting results. Multiple zones have been identified, and the mineralization shows continuity from one hole to the next. We also expect the new QFP zone, which occurs at a depth of about 400 m below surface, to contribute significantly to the new resource estimate."
Complete results received to date for Phase 1 of the drilling program on the Magino property are as follows. A map showing the hole locations with the best results can be found on the Company's website at:
http://www.goldengooseres.com/site/results_12_07.html
Hole From To Length(x) Gold
(number sign) (m) (m) (m) Content
(g/t)
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1 135.35 139.85 4.50 4.26
Including 137.35 139.35 2.00 9.00
Including 138.35 139.35 1.00 13.70
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2 325.00 326.00 1.00 14.65
-------------------------------------------------------------------------
3 334.00 337.00 3.00 8.26
Including 334.00 335.00 1.00 15.73
-------------------------------------------------------------------------
4 278.08 280.40 1.42 1.12
-------------------------------------------------------------------------
5 297.00 316.00 20.00 8.61
Including 297.00 298.00 1.00 124.50
Including 315.00 316.00 1.00 41.30
And 389.00 395.00 6.00 5.01
Including 389.00 390.00 1.00 16.10
-------------------------------------------------------------------------
6 156.00 172.13 16.13 19.80
Including 166.00 167.00 1.00 299.00
And 364.00 367.00 3.00 7.29
Including 366.00 367.00 1.00 13.90
-------------------------------------------------------------------------
7 336.50 342.50 6.00 7.78
Including 336.50 337.00 0.50 37.60
And 389.00 392.00 3.00 8.04
Including 391.00 392.00 1.00 20.70
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8 371.00 375.00 4.00 4.27
Including 371.00 372.00 1.00 12.05
-------------------------------------------------------------------------
9 300.10 302.50 2.40 28.60
Including 301.10 302.50 1.40 47.86
Including 301.10 301.50 0.40 162.00
-------------------------------------------------------------------------
10 168.50 182.00 13.50 8.07
Including 170.40 170.70 0.30 202.00
Including 173.80 174.80 1.00 17.23
And 328.80 329.20 0.40 20.40
And 401.70 402.20 0.50 65.30
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11 284.25 285.20 0.95 7.13
-------------------------------------------------------------------------
12 525.00 550.00 25.00 2.65
Including 545.00 548.00 3.00 7.39
-------------------------------------------------------------------------
13 191.70 195.00 3.30 4.78
Including 191.70 192.10 0.40 17.05
Including 194.00 195.00 1.00 8.43
-------------------------------------------------------------------------
14 116.60 121.00 4.40 8.95
Including 118.60 119.50 0.90 26.00
And 134.00 159.00 25.00 2.75
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15 151.00 178.00 22.00 6.75
Including 165.00 167.00 2.00 71.15
Including 166.00 167.00 1.00 115.00
And 252.00 256.00 4.00 6.88
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06-16A 408.00 413.00 5.00 5.77
Including 412.00 413.00 1.00 27.70
And 431.00 435.00 4.00 3.12
Including 431.00 432.00 1.00 9.51
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06-17 304.00 308.00 4.00 3.53
Including 304.80 305.80 1.00 9.87
And 429.50 442.00 12.50 1.41
Including 437.50 438.00 0.50 15.60
Including 441.00 442.00 1.00 3.94
And 473.00 480.00 7.00 2.07
Including 473.00 474.00 1.00 9.73
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07-18 219.25 222.00 3.00 5.68
Including 219.25 220.25 1.00 14.50
And 238.00 241.00 3.00 11.91
Including 238.00 239.00 1.00 31.16
And 331.00 332.50 1.50 11.89
Including 331.00 331.50 0.50 32.02
And 377.00 380.10 3.10 24.81
Including 379.50 380.10 0.60 120.34
And 401.00 402.20 1.20 6.49
And 540.00 542.50 2.50 9.82
Including 542.00 542.50 0.50 46.10
622.30 624.50 2.20 22.31
Including 623.30 624.00 0.70 64.88
QFP And 733.20 734.00 0.80 6.80
QFP And 760.65 763.00 2.35 3.98
Including 760.65 761.50 0.85 9.12
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07-19A 188.00 190.00 2.00 7.70
Including 188.50 190.00 0.50 25.00
And 355.00 359.00 4.00 6.04
Including 357.00 357.50 0.50 40.73
And 381.00 387.00 6.00 3.70
Including 381.00 382.00 1.00 7.96
And 510.00 515.00 5.00 24.25
Including 510.00 511.00 1.00 120.46
And 606.00 608.65 2.65 1.56
Massive
Sulfide
Zone And 610.50 621.00 10.50 11.14
Exhalite
and QFP
Zone Including 617.00 621.00 4.00 28.19
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07-20 170.00 171.00 1.00 10.79
And 350.00 354.00 4.00 30.56
Including 351.00 351.85 0.85 143.34
And 448.20 449.10 0.90 11.68
And 473.00 476.00 3.00 7.29
Including 473.00 474.00 1.00 18.47
And 488.00 489.00 1.00 5.46
And 534.40 535.00 0.60 15.78
Including 587.00 588.00 1.00 10.96
And 608.00 613.00 5.00 8.33
And 612.00 613.00 1.00 17.81
Including 631.00 634.00 3.00 4.19
And 633.00 634.00 1.00 12.58
And 644.00 647.00 3.00 3.99
Including 646.00 647.00 1.00 11.93
And 655.00 656.00 1.00 9.14
And 663.00 663.60 0,60 11.36
And 677.00 677.50 0.50 11.47
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07-21 205.50 206.00 0.50 6.48
And 280.25 281.00 0.75 6.46
And 299.00 318.00 19.00 3.24
Including 299.00 299.50 0.50 15.82
Including 301.00 302.00 1.00 10.35
Including 304.00 305.00 1.00 6.25
Including 308.00 309.00 1.00 7.21
Including 317.00 318.00 1.00 19.12
And 404.00 405.00 1.00 5.58
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07-22 133.00 134.00 1.00 9.56
And 141.00 142.00 1.00 7.27
And 161.50 172.15 10.65 5.12
Including 161.50 162.00 0.50 43.75
Including 163.50 164.00 0.50 29.99
Including 171.00 172.15 1.15 6.05
And 175.00 176.00 1.00 5.77
And 248.50 249.80 1.30 12.68
And 289.00 289.50 0.50 12.24
And 299.00 303.00 4.00 7.22
Including 302.00 303.00 1.00 19.34
And 412.00 413.00 1.00 22.19
And 426.00 427.00 1.00 11.70
And 430.00 431.10 1.10 12.82
And 556.00 556.50 0.50 13.38
And 560.00 561.00 1.00 7.36
And 595.00 595.50 0.50 3.64
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07-23 160.00 169.00 9.00 3.79
Including 162.00 163.00 1.00 4.42
Including 168.00 169.00 1.00 25.55
And 183.00 185.30 2.30 6.72
Including 183.90 184.70 0.80 14.71
And 220.00 221.00 1.00 7.33
And 234.00 236.00 2.00 2.31
Including 234.00 234.50 0.50 5.13 VG
And 329.00 330.00 1.00 7.45
And 459.00 460.00 1.00 5.30
QFP zone And 585.00 586.50 1.50 2.95
Including 585.00 586.00 1.00 3.33
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07-24 166.00 174.40 8.40 6.73
Including 166.00 167.00 1.00 51.88 VG
And 244.00 280.00 36.00 4.11
Including 248.00 249.00 1.00 7.92
Including 255.00 256.00 1.00 5.31
Including 262.00 263.00 1.00 4.63
Including 266.00 267.00 1.00 61.52 VG
Including 271.00 271.50 0.50 4.47
Including 278.00 279.00 1.00 43.52
Including 279.00 280.00 1.00 4.42
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07-25 231.00 233.00 2.00 6.82
Including 231.00 232.00 1.00 7.76 VG
Including 232.00 233.00 0.40 11.25
And 294.80 296.00 1.20 23.00
Including 295.50 296.00 0.50 57.10 VG
And 345.50 348.70 3.20 4.50 VG
And 461.00 462.90 1.69 4.40
Including 462.00 462.69 0.69 9.34
And 511.00 513.00 2.00 6.01
Including 512.00 513.00 1.00 9.25
And 602.00 609.40 7.40 1.83
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07-26 95.50 99.00 3.50 7.66
Including 95.50 96.40 0.90 27.67
And 106.80 110.60 3.20 3.13
Including 109.30 110.00 0.70 8.06
And 123.00 127.00 4.00 3.39
Including 125.00 126.00 1.00 6.40
And 280.50 283.00 2.50 2.49
Including 280.50 281.30 0.80 7.30
And 383.00 385.00 2.00 3.53
And 384.00 384.55 0.55 11.79
And 485.00 493.00 8.00 4.70
Including 488.00 489.00 1.00 8.78
Including 490.40 491.00 0.60 24.92
And 502.00 503.00 1.00 6.26
And 531.00 537.00 6.00 3.16
Including 536.00 537.00 1.00 15.09 VG
And 546.00 547.00 1.00 7.04
And 633.71 637.75 4.04 2.22
And 641.35 645.00 3.65 17.24
Including 641.35 642.00 0.65 19.08
Including 642.80 644.00 1.20 40.17
And 655.00 657.00 2.00 2.95
Including 655.65 656.00 0.35 10.96
Outside
the
granodiorite
in the
volcanic
tuff
705.50 708.30 2.75 2.17
And 734.74 736.55 1.81 4.50
Including 734.74 735.15 0.41 19.84
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07-27 Results
pending
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07-28 259.60 265.00 5.40 16.59
Including 263.00 263.50 0.50 193.97
And 267.75 270.00 2.25 15.31
Including 267.80 268.50 0.70 43.64
And 282.00 286.00 4.00 5.67
Including 282.70 283.00 0.30 6.99
Including 284.00 285.00 1.00 6.57
Including 285.00 286.00 1.00 13.49
And 298.00 299.00 1.00 4.30
And 393.00 395.00 2.00 3.84
Including 394.00 395.00 1.00 6.43
And 458.84 460.32 1.48 4.05
Including 458.84 459.70 0.86 6.86
Outside
the
granodiorite
in mafic
tuff
and
associated
iron
formation:
539.64 540.90 1.26 5.39
And 546.50 548.75 2.25 25.06
Including 546.50 547.13 0.63 9.04
Including 547.13 548.00 0.87 57.98 VG
In the
QFP
and
associated
crystal
tuff:
564.00 566.00 2.00 4.95
Including 565.00 566.00 1.00 9.67
In the
felsic
pyritized
tuff:
628.00 632.10 4.10 3.01
Including 628.00 629.00 1.00 7.09
And 652.00 652.55 0.55 4.98
And 661.00 662.00 1.00 6.15
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07-29 Results
pending
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VG: Visible gold seen in the core
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(x) True width has not yet been determined.
Fire Assay with AA finish done by Accurassay Laboratories, Thunder Bay,
Ontario.
With Phase I complete, the drill has begun working on Phase II of the program, on a section of the property further to the east. Phase II consists of 17 holes for a total of 8,600 metres of drilling.
The work is being supervised by Gilles Provost, a professional geologist and Qualified Person under NI 43-101. He has approved the contents of this press release.
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.