Goldgroup Cuts Several 90+ Metre Intercepts of Oxide Gold

Goldgroup Mining (OTC Other: GGAZF; TSX: GGA) has yielded significant gold intercepts in its recent drilling at Caballo Blanco, highlighted by the following:

Drill hole DDH 10 CBN 54 returned 91 metres of 0.70 g/t gold, including 67 metres of 0.82 g/t gold;

Drill hole DDH 11 CBN 68 returned 134 metres of 0.61 g/t gold; and

Drill hole DDH 11 CBN 72 returned 122 metres of 0.80 g/t gold.

According to Keith Piggott, Goldgroup’s President and CEO, “These latest results follow on from the high-grade hole DDH 10 CBN 73 (48.5 m @ 3.47 g/t Au) announced April 7, 2011, and enlarge the La Paila zone to the southwest and northeast by a minimum of 100 metres. Importantly, the drill-hole intercepts all occur at shallow depths, consist exclusively of oxide material, and are consistent with our strategy of developing an open-cut, run-of-mine, heap-leach gold operation. The zone remains open to the southwest, northeast, and southeast where further exploration drilling is ongoing to expand the size of La Paila.”

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