Golden Goose finds more gold at Magino

Vancouver — Golden Goose Resources (GGT-V) has tabled initial results from a recently completed drill program on its Magino mine property, situated near Wawa Ontario.

The program was designed to test potential of areas of mineralization outside of the previous mine workings. The company targeted two main areas. a) Potential extensions of the Webb Lake Granodiorite intrusion along strike of previously mined areas. b) geophysical anomalies outlined in at 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; ten 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 the Swastika Laboratory in Swastika Ontario. To date results are available for 9 of the 17 holes drilled. Highlights are as follows;

• Hole 02-02 intersected 2.2 ft averaging 12.8 grams gold per tonne, starting 151.3 ft. down-hole. This was followed by a 3.7-ft interval that averaged 10.0 grams gold, starting 292.8 ft down-hole.
• Hole 02-05 cut 4.0 ft. averaging 3.3 grams gold, starting 168 ft. down-hole. This was followed by a 2.0 ft interval that averaged 1.3 grams gold at 172.0 ft down-hole and a 4.0-ft section that assayed 6.0 grams gold, starting 199 ft. down-hole.
• Hole 02-06 cut 2.1 ft averaging 9.6 grams gold, starting 81.2 ft. down-hole. This was followed by a 2.5 ft. interval that cut 5.2 grams gold, starting 232 ft. down-hole.
• Hole 02-08 intersected 3.1 ft. averaging 10.4 grams gold, starting 749.9 ft. down-hole.

The balance of assay results are expected within the next few weeks.