MONTREAL, Oct. 22 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR)
(the "Company") is pleased to announce that drilling commenced Friday
October 19th at its wholly-owned Lac Levac nickel property in the James Bay
area of northern Quebec. The full program consists of a minimum of
6,000 metres in some 30 holes, and is aimed at generating data for an updated
NI 43-101-compliant resource estimate.
"Our previous drilling program last spring demonstrated the strong
potential of the Lac Levac property, which is why we have committed two drills
to this project," said Jean-Marc Lacoste, President of Golden Goose. "The goal
of this program is to increase and upgrade our current resource, which is
currently open to the east and at depth. We will be disclosing results as they
become available, from now through the first quarter of 2008," he added.
The Company has subcontracted the drilling to Bradley Drilling, and the
new NI 43-101 resource estimate will be prepared under the supervision of
Pierre Trudel from RSW Inc. of Montreal, who also carried out the
NI 43-101-compliant evaluation report and resource estimate dated July 2007.
Golden Goose has also retained Abitibi Geophysique of Val-d'Or to conduct
an InfiniTEM geophysical survey on two large grids over the drilled anomaly
and the eastern extension of the mineralized zone to provide additional
information for drilling. The geophysics field work is currently in progress
and will be completed over the next two weeks.
The Lac Levac property has been shown to host a mineralized zone
containing an indicated resource of 516,000 tonnes at 0.89% nickel,
0.39% copper, 0.06% cobalt, 0.79 g/t palladium and 0.14 g/t platinum and an
inferred resource of 734,000 tonnes at 0.89% nickel, 0.34% copper,
0.06% cobalt, 0.77 g/t palladium and 0.14 g/t platinum.
Golden Goose presently has cash resources of $4.0 million with which to
pursue its exploration objectives, including $2.2 million in funds reserved
for exploration. The budget for the current program is approximately
The drilling program is being planned and supervised by Marc-Antoine
Beaupré, a geological engineer and the qualified person as defined by National
Instrument 43-101. Previously employed by RSW Inc., Mr. Beaupré was recently
hired by Golden Goose on a full-time basis. He has approved the contents of
this press release.
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 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.
For further information:
For further information: Golden Goose Resources Inc.: Jean-Marc Lacoste,
1-888-928-4667, Fax: 1-888-494-5371, email@example.com; Renmark Financial
Communications Inc.: Barry Mire: firstname.lastname@example.org; Barbara
Komorowski: email@example.com; Media - Vanessa Napoli:
firstname.lastname@example.org, (514) 939-3989, Fax: (514) 939-3717,
www.renmarkfinancial.com; Qualified Person under NI 43-101: Marc Antoine
Beaupré, Ing., (888) 928-4667, Fax: (888) 494-5471, www.goldengooseres.com