Golden Goose raises Lac Levac resource (May 26, 2008)

Golden Goose Resources (GGRV, GGOSF-O) has released an updated resource for its Lac Levac copper-nickel-cobalt-platinum group elements project near Nemiscau, in the James Bay area of northern Quebec.

Since the compilation of the previous resource estimate, another 11,000 metres of diamond drilling has been completed.

With a nickel cutoff grade of 0.4%, and not including any mining dilution, measured and indicated resources now total 2.04 million tonnes grading 1.06% nickel (for 47.4 million lbs. nickel), 0.55% copper, 0.07% cobalt, 1.03 gram palladium per tonne and 0.23 gram platinum.

Inferred resources stand at 1.05 million tonnes grading 0.81% nickel (equivalent to 18.8 million lbs. nickel), 0.32% copper, 0.06% cobalt, 1.06 gram palladium and 0.5 gram platinum.

The new resource lies within a 900-metre-long mineralized zone that remains open along strike and at depth. Mineralization has been encountered at depths of 12 to 330 metres. The geological model is that of an intrusive body, and the company believes that the greatest potential for additional resources is at depth.

The property has other ultramafic lenses that Golden Goose plans to explore later this year. The company also believes that it can upgrade the resource to the measured category from indicated by completing infill drilling.