MONTREAL, Sept. 14 /CNW Telbec/ - Golden Goose Resources Inc.
(TSX-V: GGR) (the "Company") is pleased to announce it will proceed with a
second program of drilling at its wholly-owned Lac Levac nickel property in
the James Bay area of northern Quebec. Work is scheduled to commence on
October 15, 2007.
The decision to pursue drilling is based on the conclusions of a
NI 43-101-compliant evaluation report and resource estimate dated July 2007 by
RSW Inc. (Montreal, QC), who also provided technical oversight for the project
(see press release dated July 12, 2007). The report showed that the Lac Levac
property hosts 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.
"We have already followed through on two other recommendations in the
report, namely building a 1.6-km access road to facilitate future work on the
Lac Levac property, and performing microprobe analyses to assess the metal
content of the ore minerals," said Jean-Marc Lacoste, President of Golden
Goose. "Now that we have closed on a major financing, we are ready to start
work on increasing and upgrading our resource base."
The new program consists of drilling on the mineralized zone extensions
at depth and along strike to increase the current resource, and in-fill
drilling to upgrading the resource. A few holes will also be drilled to test
other targets on the property. The program consists of a total of 6,000 metres
of drilling in 20 holes, for a budget of $1,474,000.
Assuming the program results are positive, the Company then intends to
carry out a pre-feasibility study on the deposit.
Golden Goose presently has cash resources of $4,400,000 with which to
pursue its exploration objectives, including $2,200,000 in funds reserved for
The Company confirms that it has no exposure to asset-backed commercial
paper in its investment portfolio. The Company's cash and cash equivalents are
primarily held in Canadian chartered bank accounts.
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, firstname.lastname@example.org; Renmark Financial
Communications Inc.: Barry Mire, email@example.com; Barbara
Komorowski, firstname.lastname@example.org; Media: Vanessa Napoli,
email@example.com, (514) 939-3989, Fax: (514) 939-3717,
www.renmarkfinancial.com; Qualified Person under NI 43-101: Marc Antoine
Beaupré, Eng., (514) 878-2621, Fax: (514) 397-0085, www.rswinc.com