MONTREAL, Nov. 14 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR) (the "Company") is pleased to announce that additional excellent results have been received from drilling on its wholly-owned Magino gold property near Wawa in northwestern Ontario, including a 36-metre section of core grading 4.11 grams of gold per tonne.
The latest assay results are for holes 23, 24 and 25. These holes were drilled as part of Phase I of a 15,000-metre program aimed at increasing and upgrading the known resources to the point where a prefeasibility study on restarting the Magino mine can be undertaken. The holes were drilled under the old mine workings to test the known zones below the 150-metre (500-ft) level to a depth of approximately 400 m. This work has returned numerous intercepts in the granodiorite-hosted quartz vein system.
"The granodiorite formation is continuing to yield high-quality intercepts and demonstrate very exciting potential," said Jean-Marc Lacoste, President and Chief Executive Officer of Golden Goose. "These sections appear to represent the depth extensions of the known gold-bearing zones. We are now in the process of compiling and interpreting the drill data so that we can better understand the geometry of the Magino mine vein system and proceed with an updated resource estimate."
The latest results are as follows:
Gold
From To Length(x) Content
Hole No. (m) (m) (m) (g/t)
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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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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.
Phase I of the program consisted of about 7,000 metres of drilling on the Main area of the property. The holes were generally drilled to fill in a 15-metre (50-ft) grid, but extended below the previously drilled area. The Company is still awaiting results for holes 07-26, 07-27, 07-28 and 07-29. Once Phase I is complete, the drill will move to a section of the property further to the east to commence Phase II of the program, which consists of approximately 8,000 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.