MONTREAL, Nov. 20 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR) (the "Company") is pleased to announce further results from its ongoing drilling program on its wholly-owned Magino gold property near Wawa in northwestern Ontario.
The Company is presently completing 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. Phase I consists of about 7,000 metres of drilling under the old mine workings to test the previously known zones as well as the potential at depth. To date, numerous intercepts have been reported from the known granodiorite-hosted quartz vein system and from the recently discovered zone hosted in the deeper Quartz Feldspar Porphyry (QFP) formation and associated sulphide rich horizon.
"With numerous intersection now in, there is no doubt that the QFP formation offers good potential for increasing the project resource," said Jean-Marc Lacoste, President and Chief Executive Officer of Golden Goose. "This zone appears to be a combination of the depth extensions of known veins and new occurrences."
The latest results are for holes 26 and 28, following up on holes 23, 24, 25 reported on last week:
From To Length(x) Gold Content
Hole No. (m) (m) (m) (g/t)
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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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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.
The Company is still awaiting the results for Hole 07-27 and Hole 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.
Gilles Provost, a professional geologist and Qualified Person under NI 43-101 is supervising the work. 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.