MONTREAL, Feb. 5 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR)
(the "Company") is pleased to issue an update on ongoing assessment work on
its Magino gold property in Ontario.
A 43-101 resource update is presently well underway for the Magino
property, which lies 1.5 km southwest of the Island Gold Mine operated by
Richmont Mines near Wawa, Ontario. The update should be ready for release
towards the end of the first quarter of 2009. It is expected to show resources
in all three of the measured, indicated and inferred categories.
The previous 43-101 resource estimate for the property indicated an
inferred resource of nearly 720,000 ounces contained in 3.8 million tonnes
grading 5.94 g/t Au (see press release dated May 29, 2008) for a section of
ground with a strike length of 800 m and to a depth of from 200 m to 600 m.
The update will include historical data and new data from the over 15,000 m of
drilling done in the last two years, and therefore covers a section of ground
stretching over a strike length of 1.2 kilometres, from surface to a depth of
600 metres. Numerous consistent gold-bearing zones have been identified by
drilling within this area.
Jean-Marc Lacoste, President and Chief Executive Officer of Golden Goose,
noted that gold's current strong price and bullish outlook will help Golden
Goose develop the full potential of its Magino property.
"Shareholders can rest assured that we are looking at all options for
adding shareholder value to the stock," he added, "including potentially
spinning off some of our other assets in the coming quarters."
Golden Goose currently has cash assets of over $1.5 million invested in
secure money market instruments, and no debt. The Company plans to issue
update news releases on a regular basis in the coming months.
Qualified Persons are Carl Pelletier, B.Sc., P.Geo. and Bruno Turcotte,
M.Sc., P.Geo. of InnovExplo Inc. for the Magino mineral resource estimate and
Gilles Provost M.Sc.A. P.Geo. , a professional geologist for Golden Goose and
Qualified Person under NI 43-101, has approved the contents of this press
ABOUT GOLDEN GOOSE RE
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, platinum
group metals, and nickel 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.
For further information:
For further information: Golden Goose Resources Inc.: Jean-Marc Lacoste,
President, 1-888-928-4667, Fax: 1-888-494-5371, firstname.lastname@example.org;
Qualified Persons under NI 43-101: Gilles Provost, M.A.Sc., Geo., Golden Goose
Resources Inc., (888) 928-4667, Fax: (888) 494-5471, www.goldengooseres.com