MONTREAL, July 31 /CNW Telbec/ - Golden Goose Resources Inc. (TSX Venture: GGR) is pleased to announce that multiple zones of gold mineralization have been intersected by drilling in both the granodiorite hosted quartz vein system and in the newly discovered Quartz Feldspar Porphyry (QFP) hosted zone at the Magino gold property, located near Wawa, Ontario. A total of 5,173 meters has been completed from a planned 14,000 m drill program.
Gold mineralization in both host rocks is associated with multiple quartz veins in sub vertical shear zones that appear to exhibit continuity at depth. Each zone is described as follows:
The Granodiorite Stock
The drill intersected multiple gold veins varying from 1 to 10 meters wide with grades from 3g/t to 60 grams per tonne (g/t). The deepest intersection in the granodiorite stock is 350 vertical meters. All holes intersected gold mineralization and each is open at depth. Results are sufficiently encouraging that the program, which was initially designed to test down dip to 300 vertical meters, has been extended to trace the system to 450 meters depth. Furthermore, the granodiorite stock enlarges with depth, increasing the scope to discover new gold bearing shear zones. One hole, which was drilled through the granodiorite into adjacent rocks, resulted in the new discovery of gold mineralization in QFP (previously reported on March 8th 2007).
The QFP Zone
Three holes (18, 20 and 22) deepened through the west side of the granodiorite extended the QFP zone by 100 meters from the original discovery previously reported in hole 19A. Gold is associated with a quartz vein system and shearing, probably related to the same process that produced the gold in the granodiorite. Gold mineralization in the QFP remains open for a significant distance up dip as well as to the west and at depth.
The gold zone results, from holes 18 to 22, in the granodiorite and QFP zones are presented in the following table ("true width" not yet determined):
Drill hole from (m) to (m) length (m) gold (g/t)
-------------------------------------------------------------------
07-18 (x) 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
-------------------------------------------------------------------
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
And: 587.00 588.00 1.00 10.96
And: 608.00 613.00 5.00 8.33
Including: 612.00 613.00 1.00 17.81
And: 631.00 634.00 3.00 4.19
Including: 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
QFP And: 677.00 677.50 0.50 11.47
-------------------------------------------------------------------
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
-------------------------------------------------------------------
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
QFP And: 595.00 595.50 0.50 3.64
-------------------------------------------------------------------
(x) Extension to previously reported hole.
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Fire Assay with AA finish done by Accurassay Laboratories Thunder Bay,
Ontario.
Jean-Marc Lacoste, president, said, "We are excited by the QFP zone and its results, which continue to increase the potential of the Magino property. We will make every necessary effort to further its development. The current 14,000 m drill program continues to provide us with numerous high-grade intercepts in the granodiorite formation as well. They appear to extend several known zones of mineralization to depths between 200 m to 400 m."
The 14,000 m drill campaign is scheduled to continue until the end of 2007. Some pictures of the latest visit to the Magino property are now available on the website: 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.