Golden Goose outlines Magino deposit

Vancouver — Golden Goose Resources (GGT-V) has tabled encouraging results from a drill program on its Magino mine property, near Wawa, Ont.

The program was designed to test potential of areas of mineralization outside of the previous mine workings. The company targeted two main areas: potential extensions of the Webb Lake Granodiorite intrusion along strike of previously mined areas; and geophysical anomalies outlined in a 1997 induced-polarization survey.

The company drilled a total of 17 holes, or 2,743 metres. Two of these holes were drilled in the area east of the old mine workings, 10 holes were drilled over a 3.2-km-long trend southwest of the mine area, and the last five holes tested targets west and north of the past-producing mine.

Golden Goose reports that 974 samples were cut and submitted for assay tests at a laboratory in Swastika, Ont. To date, results are available for nine of the 17 holes drilled. Highlights are as follows:

– Hole 02 intersected 2.2 ft averaging 12.8 grams gold per tonne starting at a down-hole depth of 151.3 ft. This was followed by a 3.7-ft. interval that averaged 10 grams gold starting at 292.8 ft. down-hole.

– Hole 05 cut 4 ft. of 3.3 grams gold starting at 168 ft. down-hole. This was followed by a 2-ft. interval of 1.3 grams gold at 172 ft. down-hole and a 4-ft. section of 6 grams gold starting at 199 ft. down-hole.

– Hole 08 intersected 3.1 ft. of 10.4 grams gold starting at 749.9 ft. down-hole.

The balance of assay results are pending.

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